State budgets

After dropping dramatically with the onset of the COVID-19 pandemic in 2020, energy severance tax revenue is soaring along with oil and gas prices.

Legislative backers of the fiscal 2023 budget approved over the weekend with Gov. J.B. Pritzker's blessing believe it will draw more positive rating actions.

The budget includes a $600 million commitment from the state to subsidize a new stadium for the National Football League’s Buffalo Bills.

The Marijuana Opportunity Reinvestment and Expungement bill,if passed, could wipe out some hesitations for issuers hoping to finance their own marijuana facilities.

The spending plan includes $2 billion toward a 16-year transportation package.

Illinois' current budget surpluses offer an opportunity to help bolster the state's fiscal foundation as it navigates persistent pension strains and economic threats, the Commission on Government Forecasting and Accountability said.

A forecast anticipates an additional $1.2 billion in revenues for the upcoming fiscal year.

For a third spending cycle in a row, there was tension over funding for the Kentucky Wired public private partnership deal.

Illinois lawmakers are advancing a bill that allocates $2.7 billion of the state's ARPA relief to pay down a $4.5 billion federal unemployment insurance loan.

Gov. Phil Murphy proposes to make an additional $1.3 billion deposit into the state’s Debt Defeasance and Prevention Fund.

The state's workaround to the cap on state and local tax deductions in the 2017 federal tax law might be artificially elevating the figures.

Florida's economy is stabilizing from the COVID-19 pandemic, but nature and man may bring other threats to its recovery.

Thirty states would have been affected by the plan to claw back $8 billion in unspent ARPA funds to offset the FY22 appropriation.

“Many states are reporting revenue surpluses and rebounding economies, in part as a result of federal aid to state governments.”

A federal memo on IIJA dollars outlines Biden administration priorities but doesn’t tie states’ hands when it comes to funding, the transportation secretary said.

Minnesota's February forecast adds $1.5 billion to the $7.7 billion forecast just a few months ago.

A Michigan House Republican plan would direct $1.15 billion of grants to local municipal pensions that agree to abide by certain conditions.

Pandemic-related aid helped raise the proportion of state revenues coming from the federal government to record highs in fiscal year 2020, Pew Research found.

Oregon Gov. Kate Brown called the availability of the surplus "a pivotal moment" for the state.

High material costs and labor shortages are expected to persist through 2022 just as states and localities are planning how to spend the Infrastructure Investment and Jobs Act money.