Jim Watts

Participants in the annual Governing Arizona forum determined last week that the state needs a balanced and stable tax system, but provided few specifics on how that would be accomplished.

DALLAS — The Louisiana State Bond Commission yesterday agreed to the issuance of up to $350 million of 42-year mortgage revenue bonds under a new federal program for low- and medium-income families.

DALLAS — A commission tasked with making Louisiana government more efficient voted Tuesday to seek another study on the state’s plans to build a $1.2 billion academic medical center in New Orleans.

DALLAS — Voters in East Baton Rouge Parish, La., on Saturday overwhelmingly opposed a request for tax hikes to support $901 million of bonds that would finance infrastructure upgrades and economic development efforts.

The Oklahoma Department of Education said state funding to local districts would be reduced 7.1% in November due to a shortfall in revenues earmarked for education funding.

New Mexico Gov. Bill Richardson has formed a task force to study a variety of new revenue options to balance the state budget before the regular legislative session convenes in January.

Kansas state Sen. Jay Emler, chairman of the Senate Ways and Means Committee, said last week that lower revenues may require furloughs of state employees during fiscal 2010.

The State Board of Education said last week that additional cuts in state aid to 293 public school districts due to declining state revenues would harm the quality of education in Kansas.

The Arkansas Teacher Retirement System reported an 11.3% increase in its investments in the third quarter of 2009, as investments rose $856 million during the period to $9.66 billion.

Voters in Benton last week rejected a 0.5% increase in the city sales tax for public safety efforts by a vote of 1,815 to 1,095.

DALLAS — Oklahoma’s general fund revenue fell below expectations for the 10th consecutive month in October, but Treasurer Scott Meacham said the state’s economy may be poised for recovery, as the decline was not as steep as in recent months.

Commissioner of Administration Angèle Davis told the Press Club of Baton Rouge on Monday that Louisiana expects a revenue shortfall of almost $1 billion in fiscal 2011 and almost $2 billion in fiscal 2012.

Louisiana’s recently completed tax amnesty program brought in at least $303.7 million to state coffers, more than double the $150 million officials had hoped to realize over the two-month period.

The political action committee supporting East Baton Rouge Parish’s request for $901 million of bonds at Saturday’s election said last week it had raised $439,280 for its campaign efforts.

DALLAS — A steeper-than-expected decline in Kansas state tax collections could require quick budget cuts totaling $460 million to balance the books for fiscal 2010, with more in store in fiscal 2011.

Scott Meacham, who has been Oklahoma’s treasurer since 2005, said last week he would not seek re-election or any other statewide office in 2010.

Kansas Gov. Mark Parkinson said last week the state would not expand its offer of $144.5 million of sales tax bonds and $85 million of tax incentives and credits to help finance a large office campus and soccer stadium in ­Wyandotte County.

Arkansas’ revenue in October was $313.5 million, almost $18 million less than expected and $39 million less than collected in October 2008, according to the latest monthly revenue report from the Department of Finance and Administration.

Arizona Gov. Jan Brewer said last week that any new source of revenue to stem the state’s estimated $2 billion budget deficit in fiscal 2010 must be quick, simple, and effective.

Arizona collected taxes totaling $1.8 billion in the first quarter of fiscal 2010 but spent $2.8 billion over the same period, according to the latest monthly revenue report from the Joint Legislative Budget Committee.