SOURCE: Governor’s Proposed Budget, California Department of Finance, January 10, 2019.

NOTES: Dollar amounts presented in billions. According to Proposition 2, once the rainy day fund reaches 10% of General Fund taxes, any additional funds are required to be spent on infrastructure. In addition to the constitutionally required amounts, the legislature has made two optional deposits into the rainy day fund (2016–17 and 2018–19). Recently, the Office of the Legislative Counsel has concluded that any optional deposits made into the rainy day fund do not count toward the 10% threshold.