Bonds

The California Supreme Court removed a sweeping anti-tax measure from the November ballot that the state’s Democrats claimed would have been catastrophic for local government budgets. The high court found the measure to be a far-reaching revision of the state constitution and “because those changes would substantially alter our basic plan of government, the proposal

Under Republican leadership, Louisiana has joined the red state battle against environmental, social and governance policies with the country’s latest state-level law that bans doing business with corporations, including bond underwriters, deemed to be unfriendly to the gun industry. Gov. Jeff Landry, a Republican who took office in January, has long advocated against ESG issues

Utah lawmakers on Wednesday amended a law aimed at keeping the state’s largest coal-fired power plant in operation to ease concerns raised by the Intermountain Power Agency (IPA).   House Bill 3004, which passed both chambers during a special session, makes changes to legislation signed into law by Gov. Spencer Cox in March that requires IPA

The Arizona Legislature wrapped up its session Saturday, passing legislation to mitigate the impact of a $329 million property tax refund to be paid by Maricopa County governments and school districts, as well as a fiscal 2025 budget that tackles a two-year deficit. The refunds resulted from a stipulated judgment issued in February for class-action

Transit agencies across the country are being forced to deal with new trends in ridership, new travel patterns, and dwindling federal funds from pandemic- related relief that make the next few years crucial for bringing our nation’s transit system into the new world. That was the takeaway from the House Transportation and Infrastructure Committee hearing

Federal Reserve Bank of Cleveland President Loretta Mester said she still sees inflation risks as tilted to the upside despite welcome news in the latest data. Mester, speaking in print and television interviews Friday at Bloomberg’s New York office, also said the median projection of policymakers’ latest forecasts — which signaled just one interest-rate cut

The country’s largest public pension fund came under fire Wednesday from House Republicans, who accused the fund of being part of a “climate cartel” that illegally colludes with other investors to try to force companies to reduce their carbon footprint. The California Public Employees’ Retirement System was one of four witnesses called by the Republican

Municipals traded stronger across the yield curve Wednesday, following an early rally in U.S. Treasuries after inflation data came in softer than anticipated. While Treasuries pared back some of those gains after the Federal Reserve held rates steady and the post-meeting statement signaled only one rate cut may come this year and spoke of “modest”

The U.S. Virgin Islands government has hired Ernst & Young to assist financially troubled Water and Power Authority in returning to fiscal health. Earlier this year the Virgin Islands Senate directed hiring a “turnaround company” for the utility and last week the Public Finance Authority selected E&Y from the four finalists. Within 120 days EY

Gov. J.B. Pritzker on has signed Illinois’ $53.1 billion fiscal year 2025 budget, which includes $198 million for the state’s rainy day fund and $182 million for the migrant crisis as well as creating a Department of Early Childhood and an innovation center at the University of Illinois-Springfield and funding the new state-based insurance marketplace.

With the municipal market’s prized tax exemption possibly in play next year as Congress tackles tax policy, the National Football League is getting into the game by lobbying to protect the financing tool for the controversial and niche stadium market. The use of tax-exempt bonds to build sports stadiums, which have been subject to several

A 2017 constitutional challenge to Arizona’s system for funding public school facilities that spotlights districts’ unequal access to local property taxes and bond issuance finally went to trial last week.  The case, filed in Maricopa County Superior Court by school districts and others against state School Facilities Board officials, contends the funding system violates the

Energy Secretary Jennifer Granholm said Friday the U.S. needs to triple its nuclear capacity to meet President Joe Biden’s goal of net-zero emission by 2050. Granholm made the comments in Waynesboro, Georgia, where she joined a host of public officials celebrating the commercial start of the Unit 4 nuclear reactor at Plant Vogtle. The reactor

Oregon economists in their June forecast predicted a 50-50 chance the state’s residents will receive a kicker tax credit in 2026 as revenues are coming in at a slow and steady pace. The state has a trigger mechanism that returns money to taxpayers every two years through a so-called kicker rebate if personal income taxes

The major sticking points between what California lawmakers want and cuts proposed in Gov. Gavin Newsom’s May budget revisions are starting to arise with just over two weeks to go before lawmakers’ June 15 deadline to submit a budget to the governor. Assembly Speaker Robert Rivas, D-Hollister, and Senate President pro Tempore Mike McGuire, D-Sonoma

The Metropolitan Washington Airports Authority plans to come to market Wednesday with $829.4 million of airport system revenue and refunding bonds. “Traditionally, we’re in the market at about the same time every year. We either have a refunding opportunity or a new money need,” said Andrew Rountree, the authority’s senior vice president for finance and CFO.

Tennessee Gov. Bill Lee Tuesday signed a bill allowing local governments to issue bonds via industrial development corporations to work alongside the private sector to bolster affordable housing. The law will allow IDCs affiliated with cities and towns to sell bonds to raise the money needed to assure multi-family housing remains affordable. All municipal governments

Colorado’s action to rein in rising property values are negative credit factors for some local governments, while public schools will benefit from a state funding boost, according to Moody’s Ratings.  Legislation signed into law May 14 by Gov. Jared Polis will limit annual property tax revenue growth to 5.5% starting in fiscal 2026 and make

A tax measure to shore up funding for the San Francisco Bay Area Rapid Transit district approved by the California Senate Friday could be derailed by local opposition before it hits the 2026 ballot. Senate Bill 1031, authored by Sen. Scott Wiener, D-San Francisco, and Sen. Aisha Wahab, D-Hayward, passed the Senate Friday on a

A suit filed against the Palm Beach County, Florida, comptroller for his county’s investments in Israel bonds puts a state law targeting socially focused investments in the spotlight from a different direction. The lawsuit filed last week against Palm Beach County Clerk and Comptroller Joseph Abruzzo cites a law Florida’s Republican government passed last year