News & Analysis as of

State Budgets

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

Pennsylvania Perspective for Monday, June 2, 2025

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Federal Funding Uncertainties Send PA Budget Talks into Limbo - State lawmakers are struggling to agree on funding priorities in time to meet the budget deadline of June 30 as federal uncertainties in transit, education, and...more

King & Spalding

Budget Reconciliation Bill Impacts Medicaid Financing, Programs, and Eligibility

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Last week, the House Energy & Commerce Committee marked up legislation that would significantly affect the Medicaid program, including changes to state Medicaid financing mechanisms, state directed payment programs that...more

Brownstein Hyatt Farber Schreck

Maryland’s Mixed Bond Rating

Earlier this month, Maryland received the sobering fiscal news that for the first time in over 50 years, Moody’s Investors Service downgraded the state’s bond rating. The change, from Aaa to Aa1, removes Maryland from the...more

Cozen O'Connor

Pennsylvania Perspective for Thursday, May 29, 2025

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Gov. Shapiro Counters Federal Cuts with $50M Innovation Push - As the Trump administration slashes federal research funding, Governor Josh Shapiro (D) is proposing a $50 million state investment to boost Pennsylvania’s life...more

Epstein Becker & Green

CMS Proposes to Close Perceived Loophole in Medicaid Health Care-Related Tax Regulations

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On May 12, 2025, the Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that would impose an additional requirement to federal Medicaid regulations in order for non-broad-based and uniform health...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (5/28)

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Big issues for Illinois legislative session’s final week include public transit, pension reform and Bears - “Illinois lawmakers head into the final days of their spring session this week looking for ways to close a...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

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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

Bond Schoeneck & King PLLC

Destabilizing Federal Medicaid Proposals Dangle Like Damocles’s Sword Over New York’s Health Care System

New York State’s FY '26 budget is balancing precariously on a banana peel. Although Governor Hochul finally approved the budget in May after a weekslong standoff with the legislature, the budget rests on assumptions that...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - May 2025 #4

The Minnesota Legislature adjourned the 2025 Regular Session on Monday night, but a special session looms on the horizon as legislators failed to pass a complete budget. Despite meeting through the weekend and on Monday,...more

McCarter & English, LLP

Economic and Clean Energy Leadership in New Jersey—FY 2026 Budget Testimony Highlights

Last week, Tim Sullivan, CEO of the New Jersey Economic Development Authority (NJEDA), and Christine Guhl-Sadovy, president of the New Jersey Board of Public Utilities (BPU), presented their fiscal year (FY) 2026 budget...more

Brooks Pierce

Brooks Pierce Capital Dispatch: House Passes Budget and New Helene Recovery Bill, Senate Confirms DIT Secretary

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House Passes Budget Bill - The NC House on Thursday passed the biennial budget bill (S 257) by a vote of 86 to 20. The vote was bipartisan with 25 Democrats joining 61 Republicans in supporting the bill. This action...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (5/21)

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Illinois Lawmakers Discuss Budget Priorities as Legislative Deadline Looms - “Lawmakers are working to hammer out a balanced spending plan amid federal funding uncertainties and mounting pressure from agencies asking for more...more

BakerHostetler

Brakes Pumped on New York Labor Law’s Manual Worker Claims

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The recently passed 2025 New York State budget bill includes an amendment to the New York Labor Law that will have major implications for employers sued for late wage payments....more

ArentFox Schiff

California’s Cannabis Crackdown: Record Seizures and Budget Reforms Aim to Level the Playing Field

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Since January, California officials have seized more than $316 million worth of illegal cannabis and $474,000 in cash through coordinated enforcement actions with state agency partners and local governments....more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (5/19)

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As IL GOP slams possible tax hikes, Pritzker says ‘funding is there’ for budget - “When legislators return to the Illinois State Capitol Tuesday, they’ll have just 11 days before the deadline to pass an annual plan on...more

Miller Starr Regalia

Senator Wiener and Assembly Member Wicks Applaud Governor Newsom’s Support of Their CEQA Reform Bills

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On May 14, 2025, Senator Scott Wiener issued a press release stating that, on that morning, “Governor Gavin Newsom announced that he supports the strongest ever reforms of [CEQA],” referring to Newsom’s proposal to include in...more

Dentons

Iowa General Assembly Adjourns Sine Die

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The first session of the 91st General Assembly of Iowa adjourned sine die just after 6 a.m. on May 15 after a full night of caucuses and debate. Slated for 110 days, the legislature extended 13 days beyond May 2 after...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - May 2026 #3

Governor and Legislative Leaders Agree to Budget Targets - On Thursday of this week, the Governor and legislative leaders announced that they had reached agreement on budget targets, a copy of which can be found...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (5/14)

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Pritzker budget team slashes state's revenue forecast by $536 million - “The governor’s budget office now expects about $500 million less in revenue for the coming fiscal year, which will make it more challenging for the...more

Cozen O'Connor

Pennsylvania Perspective for Monday, May 12, 2025

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PA Public Transit, Facing Funding Challenges, Looks to Harrisburg for Solution - Governor Josh Shapiro (D) warns of severe cuts to bus and rail services across Pennsylvania due to financial challenges, with debates over...more

Amundsen Davis LLC

Marijuana Legalization Cut From Wisconsin Governor’s Proposed Budget

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Wisconsin Governor Tony Evers took another swing at legalizing cannabis in his proposed 2025-27 budget and struck out. On May 8, 2025, the Wisconsin Legislature’s Joint Finance Committee eliminated marijuana legalization from...more

Cozen O'Connor

Cozen Cities - May 14, 2025

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BALTIMORE—Bill Introduced to Address Housing Shortage- On Monday, Mayor Brandon Scott (D) introduced his Housing Options & Opportunity Act, which aims to expand zoning laws for multi-family homes and provide more housing...more

Bond Schoeneck & King PLLC

New York State Education Law Regarding Substantial Equivalency Is Modified by Budget Legislation

On May 8, 2025, the New York State Legislature passed the state’s budget legislation and, on May 9, 2025, Governor Hochul approved it. The legislation included several provisions that modified the New York State Education...more

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