Northeast

New York prepared to end the first month of its fiscal year without a budget in place as lawmakers last night were expected to pass an extender bill to cover spending through May 1. The emergency spending bill would be the fourth since the fiscal year began on April 1.

New York’s Metropolitan Transportation Authority has started doing its own forecasting for dedicated taxes after state projections have repeatedly come in below expectations, MTA staff said yesterday.

New York’s Metropolitan Transportation Authority Friday announced it had slashed $1.8 billion from its proposed five-year capital plan in a bid to win state approval. Like an earlier proposal rejected last year by Gov. David Paterson, the slimmed-down $26.27 billion capital program has a $9.91 billion funding gap.

The Long Island Power Authority in New York plans to return to the municipal bond market next week with its first-ever Build America Bond deal.

Moody’s Investors Service last week revised to negative from stable its outlook on $4.5 billion of outstanding Massachusetts Water Resources Authority debt.

New Jersey Department of Transportation commissioner James Simpson Thursday said Gov. Chris Christie’s administration is considering several options for replenishing the state’s Transportation Trust Fund.

Fitch Ratings yesterday upgraded the Long Island Power Authority’s $5.9 billion of revenue debt to A from A-minus. The rating agency also changed the outlook stable from negative.

Lazard Ltd. has hired Thomas Suozzi, former executive of Nassau County, N.Y., as a senior adviser on partnerships between private infrastructure companies and state and local governments.

Local governing bodies in New Jersey will now weigh in on hundreds of school district budgets that voters rejected in Tuesday’s election.

The Pennsylvania Department of Transportation yesterday released a plan that provides a framework for potential rail development during the next 25 years.