State budgets

"Further declines could weaken New York's tax revenue from the securities industry and have repercussions for our state and city budgets," said New York State Comptroller Thomas DiNapoli.

Revenue for the state's fiscal 2024-25 biennium that began Sept. 1 is projected to exceed the enacted budget by nearly $18.3 billion.

Several states enacted school voucher or tax credit laws this year, while Arizona officials grapple with rising costs in its universal program.

Kevin Stitt ordered a special session to put the state on a path to zero income taxes and consider a proposal sparked by a dispute over Native American taxation.

The state managed to grow revenues above forecast for the first two months of the fiscal year despite the delayed tax filing deadline.

The U.S. Court of Appeals for the Eleventh Circuit denied Treasury's motion for en banc review following its January panel decision that rendered the American Rescue Plan Act's Offset Provision "unconstitutionally unascertainable."

The total economic impact from the almost 292 million tourists visiting the Empire State last year was roughly $123 billion.

The state in 2010 sold $1.5 billion of bonds backed by payments from a master settlement agreement with tobacco firms and used the proceeds to pay overdue bills.

Travelers to the Mountain State gave West Virginia a $7 billion boost in 2022, with spending up 17% from pre-pandemic levels, which outpaced the 1% national recovery rate for the tourism industry.

State lawmakers cleared an $83.8 billion spending plan for fiscal year 2024 after a long dispute along party lines over spending provisions and tax cuts.

States nationwide saw slower general fund revenue growth in fiscal 2023 after gains the previous two fiscal years fueled by high inflation and federal stimulus.

After years of surplus from COVID-19 related stimulus, state tax revenues declined by 6.7% in nominal terms and 9.4% in real terms in June when compared with a year prior.

Sports wagering is forecast to increase the state's revenue by about $23 million a year when it's fully implemented. Retail locations open this week and mobile applications go online at the end of the month.

State economists announced during a forecast presentation to lawmakers that taxpayers will see a record "kicker" rebate when they file next year's taxes.

The state is capping transfers of fossil fuel-related revenue to its general fund and will invest money that exceeds the cap through a Severance Tax Permanent Fund.

Municipalities are facing a deadline to obligate COVID-relief money.

Tuesday's competitive new money sale is to be followed with a negotiated refunding deal later this week.

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.

A $40 billion White House supplemental funding request includes $12 billion for FEMA's disaster relief fund, but critics say it may be safer to consider the measure alone.

Costs associated with the influx of migrants could cost the city more than $12 billion over fiscal 2023, 2024 and 2025.