Tax

Stagnant per-pupil state funding amid rising costs led to budget deficits, lower reserves, and ballot proposals to raise property tax rates for some districts.

South Dakota voters will have the opportunity to end the state tax on groceries this November.

Rep. Steven Horsford will likely replace the late Rep. Bill Pascrell.

Initiatives planned for the Nov. 5 ballot raised concerns in the state's municipal bond market over higher borrowing costs and litigation.

Property taxpayers want a state court to order the city to reduce its 2024 tax levy by $187 million earmarked for a now-downsized mass transit plan.

The estimated $100 million raised annually from the 0.5% tax increase on the Nov. 5 ballot could be used to back bonds for affordable housing.

State lawmakers will be back in session Aug. 26 in an effort to head off ballot initiatives that worry the state's public finance industry.

Municipal bond market participants say a proposed constitutional amendment targeting property tax revenue would increase borrowing costs and lead to litigation.

Thursday's pricing of senior revenue bonds comes after Fitch Ratings upgraded the airport's subordinate debt.

Vikram Rai of Wells Fargo is dubious of some widely-held assumptions.

Lawsuits targeting validation lawsuits for pension obligation bonds in California generally stop issuers from considering issuance, but two cities have fought and, so far, won.

The proceeds will be used to finance replacement of the Calcasieu River Bridge.

Issuers and development advocates urged lawmakers to include advance refunding, the expansion of opportunity zones, and other muni prorities in any upcoming tax package.

Revenue from the sales tax could be used to issue long-term debt to reduce the extensive backlog of city projects.

Vance has called for eliminating the SALT deduction, calling it "massively redistributive toward the lower- and middle-income brackets."

"Lobbyists have to be prepared for any eventuality," said Chuck Samuels, attorney at Mintz Levin and counsel to the National Association of Health & Educational Facilities Finance Authorities.

Overall state general fund revenue is on track with an October estimate, while the projection for the fiscal 2024-2025 yearend balance faces changes.

Financial markets are trying to "absorb" the outcome of higher odds of Trump winning in November, said James Pruskowski, chief investment officer at 16Rock Asset Management.

The plan would raise about $100 million a year to create and preserve affordable housing.

Laws enacted in Arkansas and Kansas will reduce income tax revenue by hundreds of millions of dollars in fiscal 2025.