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Farrell Fritz, P.C.

2026 Property Tax Levy Growth Cap Remains at 2%

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New York State Comptroller, Thomas P. DiNapoli, recently announced that the 2026 property tax levy increases will be capped at 2%.  The 2% limitation affects local governments including counties, towns, fire districts, 44...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/2)

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Illinois Democrats pass budget in final minutes with sports betting tax hike- “Illinois lawmakers approved a $55.2 billion state budget package minutes ahead of a key constitutional deadline Saturday night, relying on tax...more

Cozen O'Connor

Cozen Cities - April 16, 2025

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BALTIMORE—City Files Lawsuit Against DraftKings, FanDuel - The City of Baltimore filed a lawsuit against DraftKings and FanDuel, alleging that the sports betting companies exploit vulnerable gamblers through promotional...more

Cozen O'Connor

Virginia Viewpoint: Reconvened Session Update

Cozen O'Connor on

As the dogwoods bloom, so did debate in the Capitol — where Governor Glenn Youngkin’s amendments and vetoes took center stage. On Wednesday, the Virginia General Assembly reconvened in Richmond to consider the Governor’s...more

Brooks Pierce

Brooks Pierce Capital Dispatch: Governor Releases Budget Recommendations, Helene Recovery Bill Enacted

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Governor’s Budget Recommendations - Gov. Josh Stein this week unveiled his state budget recommendations for the next two fiscal years. Entitled “North Carolina Strong,” it details a number of themes: improving public...more

McGuireWoods Consulting

Gov. J.B. Pritzker Proposes Illinois 2026 Fiscal Year Budget

On Feb. 19, 2025, Gov. J.B. Pritzker gave his annual State of the State and budget address. He outlined priorities for the state of Illinois in fiscal year 2026 while highlighting the state’s fiscal successes under his...more

Cozen O'Connor

Illinois Insights Special Edition: 2025 Budget Address Recap

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On Wednesday, February 19, Governor J.B. Pritzker delivered his seventh annual Budget Address to a joint session of the General Assembly, where he unveiled his $55.2 billion FY26 Executive Budget - marking an approximately $2...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

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (2/12)

Cozen O'Connor on

Civic Federation Says Illinois Should Extend Sales Tax to Services to Help Bridge $3B Budget Deficit - “Illinois should extend its sales tax to services like haircuts, dry cleaning and plumbing, the nonpartisan Civic...more

McDermott Will & Schulte

New York Executive Budget Proposes Amendments to MCO Provider Tax

The New York State Executive Budget for Fiscal Year (FY) 2026 proposes significant updates to the managed care organization (MCO) provider tax, aiming to enhance Medicaid funding through innovative financial strategies. The...more

Lowndes

Governor DeSantis Aims to Eliminate Florida Commercial Rent Sales Tax by 2027

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As part of the proposed $115.6 billion state budget for fiscal year 2025-26, Governor DeSantis has outlined a plan to eliminate Florida's longstanding commercial rent sales tax. This proposal continues Florida's tax reduction...more

Brownstein Hyatt Farber Schreck

Maryland Governor Releases 2026 Budget Proposal

Last week, on Jan. 15, Gov. Wes Moore introduced to the Maryland General Assembly his fiscal year 2026 budget package. This $67.3 billion proposal, aiming to close the state’s nearly $3 billion budget gap, places a strong...more

Cozen O'Connor

Virginia Viewpoint: Late Out of the Gate

Cozen O'Connor on

The 2025 General Assembly commenced its legislative business this week following an unexpected delay due to widespread water outages that impacted the city of Richmond last week. With only 46 days in this "short" session — as...more

Faegre Drinker Biddle & Reath LLP

Minnesota’s November 2024 Budget and Economic Forecast for 2026-27 Biennium

What Is It and Why Does It Matter? The Minnesota Department of Management and Budget (MMB) prepares formal forecasts of state revenues and expenditures in November and February each year, which policymakers use to set the...more

Winthrop & Weinstine, P.A.

Legislative Update: $616 Million Budget Surplus Projected

Minnesota Management and Budget (MMB) issued the November Budget and Economic Forecast this morning and has projected that the State of Minnesota will have a $616 million surplus for the upcoming FY 2026-2027 biennium...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Sine Die

Maynard Nexsen on

Budgets - The $3.4 billion General Fund Budget and supplemental appropriations, the mechanism for funding non-education-related expenses, have been sent to the Governor for her signature....more

Winthrop & Weinstine, P.A.

Legislative Top 5 - April 2024 #3

Legislature Reaches Third Deadline - The Legislature has reached another important deadline this week; Friday, April 19, is the final date upon which committees can act favorably on major appropriation and finance bills....more

Blank Rome LLP

Ohio Supreme Court Finds Federal Due Process Limitations Do Not Apply to Intrastate Taxation

Blank Rome LLP on

During the COVID-19 pandemic, many states enacted legislation trying to minimize the negative impact that the pandemic was having on state and local government budgets. It is in the context of the unprecedented circumstances...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Seven

Maynard Nexsen on

Budgets - On Wednesday, the Senate Finance and Taxation General Fund Committee gave a favorable report to a committee substitute of the $3.3 billion 2025 General Fund Budget and supplemental budget. Some changes were made...more

Dentons

Iowa General Assembly – Legislative Session Week 13

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Bill introductions slowed to a trickle by week 13, with just a handful of days left until the end of the scheduled legislative session. Most of the work happening now is in the Appropriations Committee, Ways and Means...more

Dentons

Iowa General Assembly – Legislative Session Week 12

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Week 12 brought more signs of Spring: the Pella Tulip Time Queen and her court graced the Capitol with their presence and their Dutch letters. In March Madness news, the Sweet 16 weekend kicked off with the Iowa State Cyclone...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - February 2024 #2

HOUSE AND SENATE PASS TAX CORRECTIONS BILL - By strong bipartisan votes, the House and Senate this week passed the Tax Corrections Bill which will impact 2023 taxes.  The Governor is expected to sign the bill quickly...more

Parker Poe Adams & Bernstein LLP

The Financing Strategies Available for Georgia School Districts in Today's Challenging Economy

While bonds can be used to finance capital needs for Georgia school districts, other strategies are available that do not require a referendum. Tax anticipation notes, multi-year lease purchases, certificates of...more

Dentons

Iowa General Assembly – Legislative Session Week 6

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The first funnel of the legislative session was a sprint to get as many bills passed through committees as possible. It was unusually busy, with more than 100 bills introduced since last Thursday, including successor bills...more

Dentons

Iowa General Assembly – Legislative Session Week 5

Dentons on

Week five of the legislative session was full of subcommittee and committee action. The first funnel is this week, Friday, February 16. A large number of bills moved forward in week five, but several key priorities have yet...more

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