Northeast

New York City's pension funds recorded investment returns of more than 20% in fiscal 2011, according to preliminary numbers Comptroller John Liu released on Tuesday.

Gov. Tom Corbett late Thursday night signed a bill to prevent Harrisburg and other distressed small-to-medium-sized cities in Pennsylvania from filing for bankruptcy protection - at least for the next year - under the threat of losing all state aid.

Pennsylvania Gov. Tom Corbett got the on-time budget he wanted — by minutes.

The board of New York's Metropolitan Transportation Authority on Wednesday authorized, without debate, the negotiated sale of up to $500 million of tax-exempt Series 2011A transportation revenue bonds.

The New York City Council Wednesday passed a $66 billion fiscal 2012 budget that avoids thousands of teacher layoffs and shutting down fire stations.

Pennsylvania's House of Representatives on Wednesday was expected to send to Gov. Tom Corbett a $27.15 billion budget for fiscal 2012 that marked a 3% cut in spending.

Pennsylvania's Senate late Tuesday approved a bill that would force a state takeover of Harrisburg and other financially strapped cities if they don't approve a recovery plan, and prohibit them from filing for bankruptcy protection.

New York has enacted the first-ever cap on local property taxes in the state. Gov. Andrew Cuomo signed the measure after the House and Senate approved it late Friday.

New Jersey lawmakers this week are set to vote on the Democrats' $30.6 billion fiscal 2012 budget plan while debating a proposed temporary tax increase for residents making $1 million or more to help fund education spending.

The Pennsylvania Higher Educational Facilities Authority plans to sell $118.4 million of Series AM fixed-rate, tax-exempt revenue bonds through competitive bid on Wednesday.