Bonds

The Illinois state comptroller reported a 55% year-over-year increase in the end-of-year general revenue fund cash balance as her office paid the state’s bills in a timely manner, a departure from recent years when the state’s unpaid bill backlogs topped $10 billion. Illinois ended the fiscal year with a $1.7 billion balance in the general
Davis Polk has hired infrastructure finance lawyer Elena Millerman to join the firm in New York as a co-leader as it builds out its infrastructure practice. Millerman joins as partner and co-head of the infrastructure finance group. She was previously at White & Case LLP, where most recently she served as the global head of
As California grapples with tax revenue shortfalls that threaten his state policy ambitions, Gov. Gavin Newsom delivered an unusual State of the State speech that critics said barely touched on the state’s challenges. Thea pre-recorded speech released Tuesday focused on national politics over state policy. The speech came after the governor and the legislature’s leaders,
The House Committee on Transportation and Infrastructure has advanced the Water Resources Development Act of 2024, a biennial bipartisan bill that funds the U.S. Army Corps of Engineers, invests in ports harbors and inland waterways and advances some of President Biden’s key environmental and resiliency goals. “As the Committee advances the Water Resources Development Act
Nebraska Gov. Jim Pillen called a special legislative session, starting on July 25, to try to win lawmakers’ support for his property tax reform plan.  The plan involves funding Nebraska’s K-12 schools through sales taxes — eliminating certain sales tax exemptions and raising taxes on advertising, cigarettes, vaping products and alcohol — rather than through
Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Michael Scarchilli (00:05): Hi everyone, and welcome to the Bond Buyer podcast, your go-to source for
California Gov. Gavin Newsom and lawmakers reached a budget agreement Saturday they say will close multi-year deficits by cutting $16 billion and declaring a statewide fiscal emergency to use reserves. The deal maintains the multi-year fiscal structure proposed in Newsom’s May budget revision to balance the budget in both 2024-25 and 2025-26, based on current
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
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
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