State budgets

With the status of federal relief uncertain, Illinois may ask lawmakers for approval to borrow as much as $4.5B through the Fed's MLF to deal with a coronavirus pandemic tax hit in fiscal 2021.

As Gov. Charlie Baker reopens the state, a taxpayer group paints a dire revenue picture.

New Mexico is expected to face sizable structural deficits because of declining oil and gas prices and production, the rating agency said.

State lawmakers passed a continuing resolution, and expect to return to Columbia in September to complete work on a budget for fiscal 2021, which begins July 1.

The plans include personal income tax notes and a line of credit with a consortium of banks.

The state is facing an immediate $3.2 billion budget hole for the current fiscal year, with revenue estimates cut more than $5 billion for the next two.

The Bluegrass State will issue debt for operations and capital needs at the University of Louisville Health Medical Center.

California may need to use interfund borrowing to get its budget into balance, Gavin Newsom said.

With retail sales' record decline, budget pain will continue.

California lawmakers have tough decisions ahead as they work to balance the budget, Gavin Newsom said in introducing the "May Revise" budget.

Oklahoma lawmakers stood their ground after Gov. Kevin Stitt vetoed the budget and diversions from pension funds and transportation.

Signs of an economic downturn appeared in April revenue collections, said Tennessee's Finance and Administration Commissioner Butch Eley.

The Garden State may be facing a more than $10 billion shortfall through the end of next fiscal year, according to Treasurer Elizabeth Maher Muoio.

State officials say Colorado needs to cut $3.3 billion from the budget for fiscal year 2021 after the largest revenue drop in the state’s history.

State officials estimate revenue shortfalls could reach more than $2 billion, but also believe the magnitude of budget trouble is "highly uncertain."

Kate Brown also joined with the other governors and officials of the western states to urge Congress and the Trump administration to approve $1 trillion in aid.

State lawmakers will return to Columbia for a two-day session that will also determine what to do with embattled state-owned utility Santee Cooper.

Depending on recovery, state's deficit could soar to $126 billion.

The loss of $1.03 billion in revenues prompted state lawmakers to ask congressional delegates to support a $500 billion relief package for states.

A bipartisan group of New York lawmakers announced Wednesday plans to introduce a bill that would split federal aid between counties and municipalities.