State budgets

Garden State revenues increased in November based on recently enacted tax increases, but analysts say a sustained fiscal rebound hinges on progress confronting the COVID-19 pandemic.

Thirty-five states reported general fund collections for fiscal 2020 from came in lower than original budget projections.

The budget included reduced capital improvement and GO issuance plans over the biennium.

Florida's triple-A ratings face an ongoing vulnerability because of the fiscal and economic impacts of COVID-19, its annual debt report warns.

Gov. Gina Raimondo signed the $12.8 billion FY21 budget bill, which includes seven ballot questions on $400 million worth of projects.

"If you bankrupt the states, you bankrupt the country,” said NGA Chairman Andrew Cuomo, the governor of New York.

New Mexico aims to join its neighbors in legalizing recreational marijuana as it seeks to reduce dependence on oil and gas taxes.

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.

The Empire State's general obligation bonds revised to negative from stable by rating agency due to heightened budget risks.

Hawaii's governor announced that state employees would be furloughed two days a month; the state sold $750 million of GO bonds in October to fund operations.

The state will use debt service savings from the refunding side of the deal for near-term budget relief; the deal includes its first taxable refunding bonds.

Task forces studying three proposed toll road projects failed to conclude if there is a need for the new corridors or modifications of existing roads.

For the seventh time in 2020, monthly sales tax revenues in November were below the same month in 2019.

Forecasters now expect a $641 million surplus this year and a much smaller than previously projected $1.3 billion gap in the next two-year budget cycle.

The university will begin its two-day retail order period Friday.

The Pine Tree State is positioned to withstand revenue uncertainties stemming from the COVID-19 pandemic thanks to healthy reserves, according to analysts.

Modest revenue growth is projected over the course of the biennium that begins July 1, but “unprecedented volatility” because of the pandemic remains a concern.

Lawmakers choose a scoop-and-toss move despite calls for better targeting of the federal funds.

State spending grew 7.8% to cover the expenses of battling COVID-19.

As gridlock grips the federal government, Colorado is hoping to shield citizens and businesses from worsening pandemic impact.