New York

A continued shift towards digital media goods such as downloaded music could affect $41 million of New York City tax revenue, said the watchdog Independent Budget Office.

The Port Authority of New York and New Jersey has completed a $400 million modernization project at John F. Kennedy International Airport.

This week we update a comparison of economic strength and fiscal health for New York State Counties, we look at the impact of MCDC on the number of 15c2-12 filings, and highlight one piece of good news for Puerto Rico.

New York’s Off-Track Betting (OTB) corporations are at risk of financial insolvency due to major revenue decreases and rising costs, according to a new audit issued by State Comptroller Thomas DiNapoli.

New York's MTA will review its $152 million contract with its paratransit Access-a-Ride service provider after employees told board members of mistreatment.

The Port Authority of New York and New Jersey has approved a 75-year lease with a developer to transform the former TWA Flight Center at John F. Kennedy Airport into a hotel complex.

A New York State oversight board that controls Nassau County finances has opted to refinance $118 million in long-term debt as a way to save $9.7 million in lower interest payments on debt service costs.

New York’s MTA expects to resubmit its five-year capital program request to state officials by the end of next month, Chairman Thomas Prendergast said.

New York State Comptroller Thomas DiNapoli has designated 44 municipalities across the Empire State as fiscally stressed.

Suffolk County Executive Steve Bellone is proposing a $2.97 billion 2016 budget that stays with New York State’s 2% property tax cap.

Fitch Ratings upgraded New York’s Erie County to A-plus from A on Sept. 16 citing improved budgeting practices.

Nassau County, N.Y. Executive Ed Mangano proposed a 2016 budget that if adopted would raise property taxes on the large Long Island municipality by 1.2%.

New Jersey Governor Chris Christie and New York Governor Andrew M. Cuomo delivered a letter to President Barack Obama Tuesday outlining a framework aimed at achieving funding for a new trans-Hudson commuter rail tunnel.

A federal investigation into loan guarantees made by the Town of Oyster Bay, N.Y. could impact the credit rating of New York's fourth largest township, according to Moody's Investors Service.

New York Gov. Andrew Cuomo announced on Sept. 12 that Long Island’s Suffolk County will receive $388 million in state and federal funding to expand sanitary sewer service to 8,075 parcels of land that currently utilize on-site septic systems.

New York State Comptroller Thomas DiNapoli’s recent decision to lower required contribution rates for two statewide pension systems is credit positive for the Empire State and its local governments, according to Moody’s Investors Service.

The Dormitory Authority of the State of New York authorized $1.12 billion in new financings.

The New York City Transitional Finance Authority intends to sell $1.15 billion in future tax-secured subordinate bonds in September.

New York’s Metropolitan Transportation Authority on Sunday expects to open its long-delayed 1.5-mile extension of the No. 7 subway line, a $2.4 billion, city-backed project.

Tuesday’s ouster of United Airlines’ CEO Jeff Smisek and two senior officials at the carrier in the midst of a federal investigation related to dealings with the Port Authority of New York and New Jersey has brought new scrutiny to the transportation agency.