The California School Boards Association is suing the state over a Proposition 98 work-around included as a trailer bill in the budget. Proposition 98, often referenced throughout California’s state budget process, constitutionally mandates the state to allocate a certain percentage of the state budget to education each year. The 2024 Education Omnibus Budget Trailer Bill,
Massachusetts plans to sell $490.7 million of municipal bonds to help fund improvements for its commuter rail and other transportation projects throughout the state. The bonds are scheduled to price Wednesday after a retail order period Tuesday, according to an online investor presentation. According to preliminary bond documents, the deal consists of three series: a
In this article 2202-HK 688-HK 960-HK Follow your favorite stocksCREATE FREE ACCOUNT A man walks past a housing complex by Chinese property developer Evergrande in Guangzhou, China’s southern Guangdong province on September 17, 2021. Noel Celis | Afp | Getty Images Shares of Chinese property developers rallied on Monday after major cities in mainland China
Austria’s far-right Freedom party scored a historic victory in the country’s parliamentary election on Sunday, with the result consolidating pro-Russian, anti-establishment forces in central Europe. The FPÖ was projected to win just under 29 per cent of the ballots cast, according to a near final official estimate of the vote late on Sunday, bolstering the
Warren “Bo” Daniels, managing director and head of public finance for Loop Capital, will take over as chair of the Municipal Securities Rulemaking Board Oct. 1, bringing a three decade career to an organization set to take major steps forward in the coming year. Jennie Bennett, associate vice president for finance at the University of
The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds
Almost every state has cut taxes over the past few years, but as the economy returns to normal, budget shortfalls are starting to emerge.  “The past few years have been dominated by tax cuts,” said Richard Auxier,  a principal policy associate in the Urban-Brookings Tax Policy Center. “From 2021 to 2023, 48 out of 50 states
Kentucky’s issuer rating was upgraded to Aa2 from Aa3 and the outlook changed to stable from positive by Moody’s Ratings. The move follows upgrades by Fitch Ratings in May 2023 and by S&P Global Ratings in June 2023. The agency upgraded to Aa3 from A1 $4.4 billion of general fund appropriation backed debt and to
Moody’s Ratings lifted Oklahoma’s issuer rating a notch to Aa1 with a stable outlook on Wednesday, citing the state’s strong fund balances, low leverage, and conservative budget management.  The upgrade is the first for Oklahoma since Moody’s, Fitch Ratings, and S&P Global Ratings  revised their outlooks for the state to positive from stable beginning last
A Major League Soccer stadium in Frisco, Texas, will undergo bond-financed renovations under an agreement approved Tuesday by the city council.  The Frisco Community Development Corp. will issue up to $182 million of sales tax revenue bonds for the Toyota Stadium project, which must commence by Dec. 31, 2025, and be completed by the end
On Tuesday, former President Trump announced support for lifting the cap on the State and Local Tax deduction, a move which has wide support from municipal bond issuers.  Trump made the announcement via his Truth Social network as part of a personal post saying, “I will turn it around, get SALT back, lower your taxes,