Standard & Poor's said in a report that no ballot measures with immediate effect on its credit opinions passed during this election.
The report, "Voters Tinker With State Revenues And Approve Bonds In 2012," says that the measure with the most significant potential implications for its view of credit quality, Proposition 30 in California, was approved. Voters showed continued support for state bond measures, approving authorizations in seven states.
Overall, due to a phasing-in of the tax measures' effects or narrow changes to existing frameworks, Standard & Poor's believes that this year's measures are unlikely to immediately affect state or local government credit quality. Where their consequences are felt over time, Standard and Poor's will monitor governments' ability and willingness to respond.
