Backers of a voter-approved public safety funding proposition that led to a negative rating outlook by Moody's said the budget fails to comply with the measure.
Capital Group joins a small, but growing number of shops that have added, or considered adding, muni ETFs to their model portfolios.
The SEC-approved amendments will become effective in two stages, the MSRB said.
Unless the state government makes changes to revenue or expenditures Florida faces a combined deficit of $8.1 billion in fiscal years 2027-28 and 2028-29.
Chicago Mayor Brandon Johnson's Financial Future Task Force released an interim report this week on Chicago's structurally imbalanced budget.
The rating agency cited New Jersey's "robust budgetary surplus" while continuing to make actuarially based pension contributions.
