News & Analysis as of

Financial Institutions State Budgets

Vorys, Sater, Seymour and Pease LLP

Material Changes Transform the Ohio TMUD Tax Credit

The new Ohio budget signed June 30, 2025 (the Budget Bill or HB 96) enacts substantial changes to Ohio Revised Code Section 122.09, the Transformational Mixed-Use Development Tax Credit (TMUD Tax Credit). The TMUD Tax...more

Pillsbury Winthrop Shaw Pittman LLP

California Governor Releases 2025 Budget Proposal to Move Banks and Financial Corporations to Single-Sales-Factor Apportionment

The proposal includes a shift to a single-sales-factor apportionment formula for financial institutions, aiming to increase tax revenue starting in tax year 2025. Update: On May 14, 2025, Governor Newsom released the May...more

Troutman Pepper Locke

Understanding New York’s New Buy-Now-Pay-Later Law

Troutman Pepper Locke on

New York has included a “Buy-Now-Pay-Later Act” as part of its broader budget legislation for the 2025-2026 fiscal year. Encapsulated in Article 14-B, the Act aims to regulate the burgeoning market of buy-now-pay-later (BNPL)...more

Pillsbury Winthrop Shaw Pittman LLP

California Governor Releases 2025 Budget Proposal to Move Banks and Financial Corporations to Single-Sales-Factor Apportionment

The proposal includes a shift to a single-sales-factor apportionment for financial institutions, aiming to increase tax revenue starting in tax year 2025....more

Adler Pollock & Sheehan P.C.

2024 Rhode Island Legislative Session Report

The Rhode Island General Assembly adjourned sine die on Friday, bringing the 2024 legislative session to a close. Below is an overview of noteworthy legislation passed during the session....more

Ballard Spahr LLP

Update on California bill to revamp Department of Business Oversight

Ballard Spahr LLP on

California Governor Newsom submitted his updated 2020-2021 budget proposal to the state legislature on May 14, 2020. The proposed budget amendments include substantial cuts to compensate for the anticipated impact to state...more

Morgan Lewis

Watch Out for California – State Stepping Up Fintech and Lending Regulatory Enforcement

Morgan Lewis on

A recent legal conference in Washington, DC, highlighted newly proposed and ongoing regulatory changes in California concerning consumer and commercial lending. ...more

Allen Matkins

Governor Proposes To Expand Department Of Business Oversight Authority And Funding

Allen Matkins on

Last week, Governor Gavin Newsom delivered his proposed budget for California's 2020-2021 fiscal year. The Governor is proposing to rename the Department of Business Oversight as the Department of Financial Protection and...more

Downs Rachlin Martin PLLC

News from the Vermont Statehouse - An Analysis from DRM’s Government & Public Affairs Team - April 2017 #2

Senate Money Panel Passes Budget Bill - On a vote of 7-0, the Senate Appropriations Committee passed a $5.8 billion budget on Friday that closes a $72 million projected gap between revenues and expenditures in the 2018...more

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