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Fitch said revenues improved significantly in fiscal 2022, more than doubling the prior fiscal year total and exceeding the pre-pandemic peak recorded in fiscal 2018.

Huntington Beach leaders say they are countersuing because the state is trying to micromanage the city's planning and zoning process to gain more housing.

Governance decisions and rapidly escalating deficits contributed to Moody's decision to cut Illinois Tech's rating two notches to speculative grade.

Outflows continued as Refinitiv Lipper reported $307.815 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $905.030 million of outflows the week prior.

On the policy front, the budget would allow large urban transit agencies to use federal capital grants for operating costs and gives states more private activity bond volume flexibility for housing.

Fitch said the action "reflects the recent enactment of legislation clarifying the future operational profile of the district," formerly controlled by Disney.

Shares in Silicon Valley Bank's parent company plunged 60% after executives announced they would sell a large bond portfolio at a big loss. The market "seems to be pricing in greater liquidity needs" than the bank currently anticipates, one analyst said.

The $750 million in state grants will go to eligible local government public pension funds that have funded ratios under 60%.

The bill passed through the committee on a 21 to 17 vote, over fierce Democratic opposition.

The state approved further cuts next year with provisions for possible additional cuts annually, starting in 2025, paving the way for the elimination of the personal income tax.