Far West

States' tax collections grew by 4.7% for the ninth straight quarter in the first three months of 2012 and are now above pre-recession levels, a new Rockefeller Institute on Government report shows.

Two former Lynwood, Calif., council members have been convicted of corruption for alleged illegal use of public funds.

Standard & Poor's said in a report Wednesday it has assigned an SP-1-plus rating to California's $10 billion revenue anticipation note sale scheduled for the week of Aug. 13.

A California lawmaker is sponsoring a bill that would help Santa Clara, Calif., circumvent the way tax revenues from its former redevelopment agency were allocated to help finance a stadium for the San Francisco 49ers football team.

California's Legislative Analyst's Office said Wednesday "hundreds of millions of dollars" of income tax revenue assumed in the state budget are at risk if Facebook shares remain down from its initial offering price.

Congress will likely take up an online sales tax bill before the end of the year, the chairman of the Senate Commerce, Science and Transportation Committee told reporters after a congressional hearing Wednesday.

San Bernardino, Calif. filed Wednesday for protection under Chapter 9 of the U.S. bankruptcy code.

The Council of Development Finance Agencies and the Clean Energy Group have teamed up to create a partnership to help boost clean energy investment through municipal bond financing.

Washington will sell nearly $800 million of mostly refunding bonds next week as low rates continue to drive large refinancing deals.

The Securities and Exchange Commission's long-awaited report on the municipal market asks Congress to give it authority to set disclosure standards for muni issuers and to provide the tools to enforce those standards.