State budgets

The agreement includes plans for a bill creating a constitutional amendment to allow the state to set aside greater sums in reserves.

The legislature addressed the cost of a $329 million property tax refund in the state's largest county as well as passed a fiscal 2025 budget.

J.B. Pritzker on Wednesday signed Illinois' $53.1 billion fiscal year 2025 budget, which includes $198 million for the rainy day fund, among other things.

Observers say the problems of KentuckyWired has lessons for all public-private partnerships.

Oregon Democrats and Republicans had opposite takes on the possibility the state could be dispersing a kicker credit of $582 million for the 2025-27 biennium.

The first chip in the state's triple-A crown comes ahead of plans to competitively auction $1.2 billion of general obligation bonds next week.

Democratic leaders in the Assembly and Senate said they restored some of Gavin Newsom's proposed deficit-reducing cuts in their budget proposal.

Along with tax cuts and school funding increases, lawmakers created passenger rail funding streams and paved the way for a historic hotel's bond-financed purchase.

California Gov. Gavin Newsom's May budget revisions brought 260 program cuts, but he will not raise taxes or layoff or furlough employees to close the deficit. His plan would cut 10,000 vacant positions.

The budgetary process has been marked by political fights between the governor and the general assembly.

S&P affirmed the state's AA issuer credit rating, citing healthy reserves and plans to increase permanent fund totals to mitigate revenue fluctuations.

"Numbers are hard to come by in a comprehensive way, but we do learn the state's budget is targeted at $237 billion," said John Hallacy. "This budget is clearly not a 'caretaker' budget, but one that adds significant spending. The question is how that spending will affect the out-years."

Celebrating Ohio's "highest possible credit rating," Gov. Mike DeWine delivered his State of the State address to the General Assembly in Columbus.

Capital outlay investments in the governor's "common ground budget" provide over $1.4 billion in general fund cash and tax-supported debt for projects, including $100 million of bonds for improvements to wastewater treatment plants.

New York State officials are unlikely to meet today's extended deadline for finalizing a fiscal 2025 budget and will probably push it back again.

California Gov. Gavin Newsom reached an agreement with Democratic leaders on early deficit-reduction tactics.

Hawaii Gov. Josh Green outlined the state's plan to permanently house everyone displaced by the fire — and how he plans to pay for it during a media briefing.

Gov. Spencer Cox wrapped up action on hundreds of bills passed by lawmakers, including measures to boost or limit bond issuance and potentially put some outstanding debt at risk.

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.

States' January revenues were down from a year earlier.