Finance & Revenue
Not only will taxpayers be on the hook for increased contributions needed to fulfill pension obligations of cut government workers, but it will hit local consumer spending. “Every dollar taxpayers contribute to state and local pensions supports an additional $13.40 in total economic output.”
Governing | The Real Costs of Shrinking the Public Workforce
Iowa is considering a 3 year moratorium on the state’s largest cities and counties receiving economic development funds. The funds would instead target rural communities. HSB 310 (2025 | IA)
Governing | Iowa Bill Would Block Economic Development Funds for Largest Counties
The Idaho joint appropriations committee added a provision to the state budget directing the “Idaho Department of Labor to provide a report on the impact of illegal immigration on the state’s labor market and the costs and benefits of using E-Verify.
Route Fifty | Idaho lawmakers want Department of Labor to study impacts of mandatory E-Verify law
Georgia legislators are taking another swing at asking voters to approve sports betting in the state. House Bill 686 and House Resolution 450 would move forward with voter approval in 2026. The legislation intentionally excludes horse racing, casino gambling, brick-and-mortar stores and kiosks.
Vermont is considering utilizing libraries as Telehealth hubs to address rural health care.
Route Fifty | Vermont explores having telehealth hubs at libraries
Ohio Legislature was considering the Governor’s legislation to build new professional sports stadiums by funding stadiums with a tax on sports betting. A deviation from the ordinary course of taxpayer funded stadiums. Then the bill died. What happened? Ohio pundits say “it was common sense, but these guys in the Legislature, man, they just. they get bought and paid for by lobbyists.”
Washington State is considering increasing the state’s “advanced computing surcharge”, which is a fee charged to large tech companies that have annual revenue of at least $25 billion. The surcharge funds higher education, including financial aid. HB 1839 (2025 | WA)
Governing | Washington Could Raise Taxes on Tech to Pay for Higher Ed
Georgia Republicans are considering increasing the compensation for victims of violence “in the line of duty,”which in Georgia includes teachers. HB 105 (2025 | GA)
Bipartisan joint authors of Texas legislation feels like a usual Wednesday to me. And, yet I read that of the 2,278 bills* in the current California Legislature, only 11 have bipartisan joint authors. hmmm…..
*2,278 could be bill filing on Friday March 14th in Texas. We’ve talked about how California caps how many bills legislators can file and lowered that cap this year
The Tax Foundation, which is most certainly not known for being wildly liberal in their analysis, determined that proposed U.S. tariffs will:
How does your state offer incentives to professional sports teams? In Oklahoma, it is HB 3959 (2024 | OK). This limits tax incentives to only men’s professional sports teams. New year, new thoughts in Oklahoma. SB 820 (2025 | OK) will expand the Oklahoma Five Major Sports League Rebate Program Act to also apply to women’s professional sports teams.
Governing | Oklahoma May Alter Tax Breaks That Only Help Men’s Sports
Before COVID, Florida’s state revenues returned investment revenues of $223 million; by fiscal 2024, this revenue was over a billion dollars.
Alabama has seen its investment revenue climb 902%. Illinois saw a 1,257% increase in its earnings from interest and investments. Data suggest that state investment revenue likely peaked in 2024.
Governing | States Have Been Making Money By Putting Their Money to Work
Utah thinks judges might need different standards for re-election. Who cares about winning by a majority vote. In Utah, under this bill, a judge would have to win 67% of the vote. HB 451 (2025 | UT)
Utah is considering HB 69 (2025 | UT) , which will create a higher hurdle for the state to pay attorney fees when it loses. This bill will require that the governmental entity acted in bad faith before attorney fees are paid to the information requestor. This seems to be a legislative mic drop. Again, my personal sensibilities are too Swedish for this, which seems to the theme for the week.
KPCW | Legislature advances bills that may make records harder, more costly to get
Meet Coinnect LLC, a start-up that provides a means for cannabis dispensaries to bypass the need for cash by using cryptocurrency. Cannabis is largely a cash business like when you were young, but with store fronts. Their pitch: “Our system makes it easy for businesses to accept crypto without even understanding crypto.”
Detroit Metro Times | Local entrepreneurs roll out crypto fix for cash-only cannabis dispensaries
A lawyer with a background steeped in tobacco litigation, is taking on sports betting. He draws parallels between the industries both colloquially tied to addiction. Like tobacco, there’s deep pockets. In 2024, sports betting was a $150 billion industry, up 24% from 2023. @time
California Legislature is considering SB 58 (2025 | CA), the Ratepayer and Technological Innovation Protection Act, would offer tax credits to data centers that create 20 new jobs if the data center is powered by zero emission sources.
A judge in Mississippi has ruled that the Legislature is not included in the Open Meetings law. The law is written to include legislative committees but not the workings and proceedings of the Legislature. Oops… drafting oversight or intentional legislative drafting?
The Nevada legislature is considering legislation to build a Sony film studio in Las Vegas. AB 238 (2025 | NV) would establish the $1.8 billion project; and offer $80 million in film tax credits. To qualify for tax credits the film must invest $400 million in Nevada, that 50% of photography be in Nevada, and require that the film be completed within 18 months.
A bill in Utah would change who can sue the Legislature. It will make it harder for associations and groups to file suit as it would set association standards, require association member consent, and the harm would have to be broad. It is said the bill stems from lawsuits from League of Women Voters and Planned Parenthood. SB 203 (2025 | UT)
Arizona looks to make HOWDY its official state greeting. I have so many questions, and am so confused. I thought Howdy was a Texas thing or a cowboy thing. Culture shifting. HB 2764 (2025 | AZ)
AZ Family | New bill introduced in legislature would make ‘Howdy’ Arizona’s state greeting
Nevada has a plan to reduce egg prices by increasing supply. The plan: AB 171 (2025 | NV). In times of disaster, like bird flu, hitting the egg world, the state could suspend some of its agriculture rules. Specifically, it would allow the state to suspend a 2021 law that “mandated that all commercially produced eggs sold in Nevada come from cage-free environments in the event of a disease emergency or natural disaster that directly affects the egg supply.”
Nevada Independent | Indy Explains: Can the Nevada Legislature actually help reduce egg prices?
Pennsylvania’s Governor says Pennsylvanians make up 60% of customers in neighboring states cannabis shops. His office estimates that taxing legal cannabis sales in the state would generate $1.3 billion in new tax revenue over five years.
WHYY | Pa. Gov. Shapiro looks to legalize — and tax — marijuana to balance state budget
38 states have legalized sports betting. Republicans in Minnesota are optimistic about adding Minnesota this year. Estimates show it would bring $80 million in tax revenue. The state plans allocating 50% of that revenue to support charitable gambling, 25% toward drawing major events to Minnesota (Hello Economic Development), and 20% would go to boost the horseracing industry.
“A record 68 million American adults (26%) are expected to bet $23.1 billion on Super Bowl LVIII, a 35 percent increase from 2023 estimates, according to American Gaming Association (AGA) research. Bettors plan to wager an estimated $23.1 billion on this year’s Big Game, up from $16 billion last year.”
A poll by University of Houston’s Hobby School found that 85% of respondents favor a sales tax holiday for HVAC systems.
Indiana Legislature is proposing reducing state transportation funds for local governments in exchange for the local governments being able to implement a local delivery fee/tax. The delivery fee/tax would be between 50 cents and $1 — per retail delivery. Purchases not subject to sales tax, like groceries, would be exempt.HB 1461 (2025 | IN)
Governing | Indiana House May Freeze Transportation Grants to Localities
Iowa’s Governor will create a department of governmental efficiency by executive order. Before the crowdstrike attack in 2024 that shut down computer systems globally, Iowa had consolidated tech operations in the state. As a result of the tech consolidation in Iowa, the state was able to get up and running by lunch time. The Governor credits the consolidation for the quick response.
Route Fifty | Iowa floats first state-level ‘Department of Government Efficiency’
Maryland is considering a tax exemption for agricultural equipment. HB 278 (2025 | MD) The bill seeks to keep up with technological advancements by giving the state secretary of agriculture the ability to add equipment to the tax exemption list.
Lancaster Farming | Maryland Bill Could Expand Ag Equipment Tax Breaks for Farmers
The EPA finalized standards for PFAS in drinking water last year. States have 2 years to create regulations/legislation to maintain levels at or below federal standards, followed by monitoring and enforceable compliance. States will also be able to access $1 billion in federal funds to help.
“An outside forensic audit that looked into the state’s books reported this week that at least $1.6 billion of the wrongfully counted money was essentially made up and not real cash.” The SEC has a separate investigation into a $3.5 Billion accounting error by the state’s former comptroller.
Pennsylvania Governor supports the decriminalization of marijuana so that the tax revenue from legal CBD and THC sales can stay in the state. Pennsylvania is surrounded by states, Maryland, Ohio, New York and New Jersey, where sales are legal.
3 years ago New York approved sports betting. Since then $58 billion in bets have been placed. In comparison, New York’s lottery, the biggest in the country, brought in $8.2 billion in sales during the 2023-2024 fiscal year while mobile sports betting brought in 1.7 billion in revenue. The American Gaming Association says New York State tops all states in sports betting state revenue. Neither California nor Texas permit sports betting.
Meet Right to Start, a bipartisan organization supporting entrepreneurship. Their polling shows that “94% of American voters agree that “it is important to America’s future that citizens have a fair opportunity to start and grow their own business.”That near-unanimity crosses party lines, with 95% of Republicans, 95 % of independents and 92% of Democrats agreeing. “
In July 2023 Nevada became the first state to create a State Office of Entrepreneurship. Since then, Colorado, Kansas, Michigan and New Mexico have followed suit.
Philadelphia is transforming the 76ers/Flyers arena to a mixed-use development featuring sports, retail, restaurants, and a hotel for a cost of $2.5 billion. This is in lieu of a proposed new arena in Chinatown with a cost of $1.3 billion.
WHHY | Sources: Sixers abandon plan to build new Center City arena, will remain in South Philly
Maryland is investing $2 million to prepare its technology workforce. Tech employers have said that practical training after college would be helpful to support the tech workforce. “The funding will support experiential cyber training and job placement efforts at all 16 community colleges in Maryland, the state’s Gov. Wes Moore announced late last month. “
Route Fifty | Cyber ranges get a boost in Maryland to strengthen the cyber talent pipeline
In 2021, Montana dedicated part of its recreational marijuana tax to conservation and recreation. The Montana State Parks Foundation credits this tax revenue as fundamental to the state parks budget. Now in 2025, the Governor proposes re-allocating the marijuana tax revenue to public safety.
KTVH | Marijuana tax revenue is a key piece in preserving Montana’s outdoors says advocates
Wyoming’s Legislature is the 1st in the nation to be controlled by the Freedom Caucus. So, let’s delve into their state revenue wishlist.
Cut severance tax rates for the “flagging” fossil fuel industry in Wyoming. HB75 severance tax cut for coal SF18 would reduce the severance tax on oil from 6% to 3% if tied to practices that capture, store or reuse carbon dioxide.
WYOFile | Nuclear waste, tax breaks for coal and oil top Wyoming Legislature’s energy agenda
Let’s look at 3 local tax incentives es to convert office space into residential properties. New York City’s 2025 budget includes a 90% tax exemption for projects with at least 25% affordable units. Chicago is putting $151 million up for grabs by developers to transform four office buildings into 1,000 apartments, about a third of which would have affordable rental rates. Washington D.C. offers 20-year tax abatements for commercial-to-residential conversions through its Housing in Downtown initiative.
Governing | Cities Cut Red Tape to Promote Office-to-Housing Conversions
States have a total of $924 billion in net pension liabilities. This is up 21.2% from the $762 billion reported in 2023. Connecticut’s $74.9 billion in debt representing 23% of personal income is the worst. The best state is Tennessee with $4.4 billion representing 1% of personal income.
Governing | States With the Worst Pension Debt in the Nation
The California Legislature has reduced the number of bills a legislator may file during their two year legislative cycle. Each member can file 35 bills, that’s down from 50 for Assembly members and 40 for Senators during the last legislative session.
CalMatters | California Legislature takes office under Trump’s shadow
Taylor Swift’s concerts are said to have had a $10 billion impact in the U.S. Miami estimates an $80 million economic impact. New Orleans estimates a $500 million impact from Swift.
The Kansas City Chief’s impact to their community is $993 million per year.
Governing | Stadiums, Nightlife and Taylor Swift: Cities and States Are Banking on Busy Weekends
33 of Illinois’ 102 counties passed non-binding resolutions backing the idea of forming a new state with every Illinois county except Cook, home to Chicago and more than 40% of the state’s population.
Wall Street Journal | The Rural Areas Pushing for Divorce From Democratic Cities
On November 21, 2024 Texas Governor Abbott directed state agencies to divest from risky investments originating from China. The letter sent to state agencies.
Governor Abbott Directs State Agencies To Divest Portfolios From China
Did you know some summer Olympic events will be held in Oklahoma City, Oklahoma and not Los Angeles, the host city? Neither did I. To pull this off, the city relied on a 1990s 1% city sales tax to fund quality-of-life improvements in its downtown. It is also how the City has an NBA team.
Governing | How a Sales Tax Helped Oklahoma City Get a Piece of the Summer Olympics
74% of Maine voters approved a $5000 cap on contributions to Super PACs. @perfectunion
“The Center for Collaborative Heat Monitoring is now accepting applications for its nationwide heat data collection campaign, which provides communities with a stipend and technical support to help them monitor and evaluate local heat risk factors. The CCHM is an initiative under the National Integrated Heat Health Information System and the National Oceanic and Atmospheric Administration, which announced the funding opportunity earlier this month.”
Route Fifty | Communities to get tech, data help to tame extreme heat
Massachusetts voters approved a proposition that would provide for an audit of the Legislature. Some legal experts say it is unconstitutional because it violates the Separation of Powers clause.
Is Florida’s requirement that constitutional amendments receive support from 60% of voters a new trend? Let’s watch 2025.
CBSNews | Florida amendments on hunting and fishing rights approved, partisan school races rejected
Voters in 3 states have defeated school choice. Kentucky, Nebraska, and Colorado have voted to oppose using state tax dollars for private schools. In deep red Kentucky, the measure failed by more than 65%.
The 74 | Ballot Propositions: Voters in 2 States Reject Private School Choice Measures
Let’s go through some trending ballot issues to follow next Tuesday and beyond:
North Dakota will vote whether to essentially end their residential property taxes.
Colorado, Kentucky, and Nebraska voters will decide on school choice.
Florida will vote on cannabis legalization.
Colorado voters will vote whether to approve a 6.5% excise tax for guns and ammo.
Two cities, Berkeley and Santa Cruz, California, will vote on whether to impose a local “soda tax.”
Florida voters will decide whether to approve an inflation-index to the Florida homestead property tax exemption.
Georgia voters will decide whether the state’s exemption to the personal property tax exemption should be expanded to $20,000.
Washington imposed a 7% capital gains tax, voters will decide whether to repeal it.
Oregon voters will decide whether to approve Measure 118 that would tax large companies and return the tax revenue directly to residents.
Santa Cruz County California is considering whether to allow for onsite cannabis consumption at retailers and farming locations. These “designated puffing zones would be subject to strict ventilation and odor requirements, and must comply with state smoke-free workplace regulations.”
Sound unusual? It’s not. A couple years ago we talked about Colorado addressing a similar situation to allow for onsite consumption and consumption in hotels.
Oregon voters will decide whether to approve Measure 118 that would tax large companies and return the tax revenue directly to residents. An increase of 3 % on the minimum tax on corporations with in-state sales greater than $25 million will have the tax revenue returned to all Oregon residents.
Governing | Oregon May Be First State to Tax Large Companies and Send the Money to Residents
Ever noticed that there are a lot of NFL stadiums located at low elevations in areas prone to natural disasters? A report by Climate X released this week supports the idea that the stadiums are vulnerable to disasters and could cost taxpayers up to $11 billion to rebuild. The costs extend beyond rebuilding and into insurance premiums increasing & economic disruptions for local businesses
ESG Dive | NFL stadiums face $11 billion climate risk price tag by 2050: report
Colorado, Kentucky, and Nebraska voters will decide on school choice next month. Also brewing are a South Carolina Supreme Court opinion that threw out the state’s school voucher program and allegations of misuse of school voucher funds in Arizona.
Iowa Capital Dispatch | School choice goes before voters in 3 states, faces pushback in others
Donald Trump indicated his support of a ballot measure to legalize cannabis in Florida. The supporting post states that “As a Floridian, I will be voting YES on Amendment 3.”
Cannabis Business Times | Donald Trump Headlines Pro-Cannabis Legalization Ad in Florida
New York is utilizing cannabis tax revenue to fund tax grants via the Community Reinvestment Program. The grants will focus on areas that have been historically under-resourced, underserved, and over-policed.
NNY360 | New York opens first cannabis cash grant program, aims to reach nonprofits helping youth
Meet the person who coined the term “vibecession” to explain how people think the U.S. is in recession even though that is counter to economic data. Bonjour, Kyla Scanlon you coined an ingenious term. @wsj
Since 2017, 8,700 opportunity zones (OZ) have been created. 78% of OZ investments have gone to 5% of designated OZs. Some say that there were 3x more zones created than needed, including some located in remote areas.
Assembly Bill A10281 (2024 | NY) would require that all state agencies, authorities, institutions or boards publicly post a list with each emergency contract including the cost, the agency contracting the work, the entity awarded the work, the term of the contract, what is being supplied, how the contract relates to a declared state of emergency, and a statement on if the contract was competitive. The bill unanimously passed the legislature and is awaiting the Governor’s signature.
Colorado voters will vote whether to approve a 6.5% excise tax for guns and ammo. It is estimated to generate revenue of $39 million a year, and will mostly be dedicated to the state’s Crime Victim Fund. Similar taxes exist in California, Seattle and Tacoma, Washington, and Cook County, Illinois.
Route Fifty | Tax the sale of guns and ammo? Voters in this state are set to decide.
The economic impact of the 2024 eclipse required long range planning. 18 months out, local governmental officials in the path of totality collaborated with local authorities concerning safety, transportation issues, and event planning. A town in Ohio saw 16% jump in traffic and a 25% jump in hotel, motels, and short term rentals. By all accounts, the planning worked as the result was increased tax revenues from increased traffic at restaurants and local businesses.
Route Fifty | Six months later, what did cities learn from the solar eclipse? Plan, plan, plan.
Colorado voters will vote whether to approve Amendment K which would allow election officials an extra week to get ballots prepared. The impact to state politics? Citizen-led ballot initiatives would have to submit petitions one week earlier to qualify for the ballot.
Durango Herald | Amendment K: Colorado election officials would have more time to prepare ballots
Montana Legislature is working to prevent public disclosure of communications between lawmakers, lobbyists, and stakeholders concerning draft bills. For the curious, Texas permits legislators to protect from disclosure legislative documents.
Bozeman Daily Chronicle | Legislature closing access to behind-the-scenes bill influences
Louisiana Governor credits state infrastructure spending in coastal protection and levee infrastructure for sparing Louisiana from more destruction from Hurricane Francine.
Governing | Louisiana’s Investment in Coastal Projects Saved It from Francine
Pennsylvania Legislature had a public facing debt clock that for 8 years informed people of the unfunded liability of the pension systems. Last week the clock went dark when the pension systems were fully funded. Is the clock magical? Did the clock serve as some form of guilt? who knows.
Governing | Pennsylvania’s State Pension Debt Clock Goes Dark
Two cities, Berkeley and Santa Cruz, California, will vote on whether to impose a local “soda tax.” There’s a 2024 study in JAMA Health Forum that purports to say soda taxes have “promising impacts on health habits.” Berkeley will vote whether to extend its soda tax to 1st January 2027 and Santa Cruz will vote whether to impose a tax of 2 cents per fluid ounce.
As we’ve talked about words matter like how the “soda tax” in Philadelphia applies to unflavored, unsweetened sparkling water according to the State Supreme Court.
Route Fifty | Ballots in two cities aim to keep soda taxes from falling flat
This November Florida voters will decide whether to approve an inflation-index to the Florida homestead property tax exemption.
This November Georgia voters will decide whether the state’s exemption to the personal property tax exemption should be expanded to $20,000. This is said to allow small businesses to exempt most of their personal property and lower compliance costs for the personal property tax.
Michigan has a new statewide official, the Chief Infrastructure Officer. This CIO’s goal is to to help localities apply for federal dollars and meet statewide infrastructure goals. The CIO will also distribute matching state funds.
Governing | In the Weeds: Zachary Kolodin, Michigan Chief Infrastructure Officer
Missouri has a new lobby group opposing sports betting. Meet Missourians Against the Deceptive Online Gambling Amendment.
This November Missouri will vote on legalized sports betting. The amendment would provide for sports betting licenses for existing Missouri casino operators; pro sports teams like the Cardinals, Blues, Chiefs, and Royals; and sports wagering operators like DraftKings and FanDuel. There will be a $500,000 license application and 5 year renewal fees plus a 10% tax on the licensees adjusted gross gaming revenues. Annual revenue is estimated at $29 million.
Fox 2 Now | Debate of Amendment 2 heats up as election day nears
Cannabis sales in Michigan were greater than California. Michigan is selling 8 million more units of marijuana products a month than California, and 3 times greater sales per capita than California. Michigan’s total market value is $287 million, and has lower price points than other states. Related tax revenues account for 0.75% of the state budget. Washington, Montana, Alaska and Colorado all get more than 1% of their state budget from marijuana taxes.
Lansing State Journal | With Ohio sparking up, has Michigan hit its weed ceiling?
This fall will it be sports betting or election betting? This is bizarre to me, but as my Swedish grandmother said, smaken är som baken, delad. Interactive Brokers is launching a market where investors can bet on the outcome of the presidential election. The plan is to extend betting to swing state US Senate races.
WSJ | Election Betting Is Going Mainstream After Major Brokerage Gets on Board
Will the August 30th denial of Swift Transportation Company’s Petition for Review by the Texas Supreme Court require 2025 franchise tax legislation? Swift argued that motor carriers were not subject to the franchise tax because of a provision in the Texas Transportation Code and a 2003 Texas Supreme Court opinion.
Landline | Swift Transportation’s attempt to avoid Texas’ franchise tax comes to an end
A new lawsuit filed by American Sustainable Business Council asserts that Texas’ law prohibiting state funds investment with companies that are deemed to be boycotting fossil fuels violates the 1st and 14th amendments to the U.S. Constitution.
$81 Billion would be the hit per year to Texas state revenue coffers, if Texas eliminated its property tax. To make up this lost revenue, it could translate into a sales tax rate of 22%.
The Institute on Taxation and Economic Policy determined that undocumented immigrants paid $96.7 billion in federal, state, and local taxes in 2022. This includes $37.3 billion that was paid to state and local governments. More than 1/3 of the $96.7 billion in tax revenue is paid to fund programs that the immigrants cannot and do not access like Social Security. Undocumented immigrants in Texas paid $4.9 billion in tax revenue to the state.
ID, UT, SD, KS, MO,AR,IL, TN, MS and AL are the 11 states that impose a tax on groceries, you know the food that we cook with in our kitchens. Within the last year OK has repealed its grocery tax. Utah voters will vote in November whether to repeal their tax on groceries. Kansas is phasing its grocery tax out in 2025. Illinois Governor has called for a repeal of the state’s tax on groceries. AR, TN, and AL have all reduced the tax rate on groceries.
Last year the Missouri Secretary of State imposed rules that required investment professionals, who consider ESG criteria in their investment practices, to disclose such and to obtain client consent. This rule was challenged in a federal court in Missouri by the Securities Industry and Financial Markets Association. The judge’s order finds the Missouri rules conflict with federal rules and laws.
Detroit mayor is supporting legislation that would impose a land value tax on unimproved property. Supporters say it would cut the property tax on homeowners by 17%. HB 4966 (2024 | MI)
Ohio is set to offer sales of non-medical cannabis sales at existing medical marijuana dispensaries after voters in November 2023 overwhelmingly supported a legalization measure. Ohio will impose a 10% tax on non-medical cannabis sales. Tax revenue will be dedicated to administrative costs, addiction treatment, municipalities with dispensaries, paying for social equity and jobs programs supporting the cannabis industry.
KDKA News | Ohio is expected to launch recreational marijuana sales
Nebraska is considering legalizing and taxing cannabis to provide property tax relief. LB 71 (2024 | NE) and LB 52 (2024 | NE) have the goal of slashing property taxes by 50% by adding a 16% excise and sales tax on cannabis products.
Marijuana Moment | Nebraska Lawmakers Hold Joint Hearing On Two Marijuana Legalization Bills
Recently there have been several headlines about the impact of certain investments on pensions. The LA Times ran with pension investments in real estate, specifically apartments, driving up housing costs. Other publications have focused on how alternative investments are dragging down pension returns with calls for greater information on investment fee structure and methodology.
NYC has installed 4 health care vending machines that dispense a variety health care products from COVID tests and safe sex products to fentanyl test strips and 2,100 naloxone kits to reverse overdoses. The free vending machines have dispensed 18,000 items. The vending machines are managed by eligible organizations.
The Withdrawing Arduous Gaming Excise Rates (WAGER) Act by U.S. Senators Masto (D-NV) and Cindy Hyde-Smith (R-MS) would “ensure our sports gaming industry can provide essential tax relief to consumers and our sports gaming industry, creating more jobs and keeping our tax money in the state while cracking down on illegal activities,” according to Senator Masto.
Fox 11 | Nevada senator introduces bill to eliminate federal taxes on sports betting
Seattle voters will vote on whether to approve a transportation levy that would raise property taxes by an average of $20 per month to fund transportation projects ranging from bike lanes to paving streets and repairing bridges.
Governing | Seattle to Vote on Record $1.55 Billion Transportation Levy
Polling on these bills shows an overwhelming number of voters, including 62% of Republicans oppose them. But in Ohio, the Legislature is considering SB 6 (2024 | OH) to prohibit state funds investments from including ESG in decision making. fThe opposition is arguing for investment legislation that allows investors of state funds to consider all fiduciary considerations to make properly informed investment decisions.
How did the Oklahoma Legislature fail to pass a sports betting bill, SB 1434 (2024 | OK) ? The Governor and tribal nations were unable to reach an agreement. It’s described as too much posturing by the elected officials who had no real interest in enacting sports betting. Previously, the Governor had made a public push for sports betting.
Voters killed a new Royals stadium. Behind the opposition to the stadium tax was a Hall of Fame second baseman for the Royals. 60% of voters voted against the stadium tax. The Hall of Famer says “The voters just didn’t have enough information, and they didn’t have enough confidence in the information.”
Governing | One Last Play: A Former All Star Helped Kill Stadium Financing for His Old Team
A new report, How Hidden Costs Undermine Public Pensions in the US, by Richard Ennis posits that “increased allocations to nontraditional investment products and fund-level underperformance relative to common actuarial benchmarks caused by these products’ higher costs.” A review of study of 54 prominent public plans’ portfolio data shows the pensions doubled their exposure to alternative investments from 2008 to 2023, to 34%.
Governing | How ‘Alternative Investments’ Are Dragging Down Pension Performance
States are trying to figure out how to stabilize insurance market for disaster coverage. One way is through “cat bonds” in which state and local pension funds provide vital risk capital to the reinsurance industry through “cat bonds,” which enable the insurers to lay off some of their catastrophic storm and earthquake risks to hedge funds and institutional investors.
Governing | States Should Take the Lead in Stabilizing Disaster Insurance
Florida’s governor vetoed $32 million in arts grants. The cut zeroes out arts funding for the first time ever.
A new report from the Volcker Alliance, founded by former Federal Reserve Board Chairman Paul A. Volcker, tracks state tax breaks. The report found that tax breaks/abatements “reduce state revenues by an estimated $1 trillion a year, almost three times their 2021 total expenditures on education.” Curious about Texas? Texas had nearly $1.3 billion in GASB77 tax abatements in 2022. That puts it at #2 in tax abatements, millions shy of the top state, New York.
A poll on the Killeen Daily Herald asks whether readers would support a small tax increase “to help reduce the district’s potential budget shortfall.” 60% replied NO, “With 50-plus employees making six-figure salaries, a tax hike would be bad optics.” 20% replied NO, ” It’s important to exhaust all other potential budget cuts before talking about taxes.” There we have it, 80% oppose.
Michigan has created the position of Chief Growth Officer. The purpose of the Chief Growth Officer is to attract workers and employers with economic incentives and state benefits like Michigan’s low cost of living, the growing high tech community, expanding semiconductor industry, AI opportunities, and clean energy industry.
Route Fifty | One State Is Putting a Single Person in Charge of Its Growth Strategy
The International Olympic committee in July will vote to approve the new Olympic Esports Games. Cities like Dublin, Ohio are getting in on the revenue source by ensuring esports locations and programs. Esports began in the 1970s, and its growth is notable. The esports market is projected to reach $10.9 billion by 2032, with a compound annual growth rate of almost 21% between 2023 and 2032.
Route Fifty | It’s time to take a serious look at esports gaming
Kansas Legislature passed HB 2001 (2024 | KS) to lure the Royals and Chiefs away from Missouri and across the river to Kansas. By using tax incentives and robust, revenue-generating entertainment districts Kansas hopes to keep the teams in the Kansas City community. Financing for the stadiums would be funded by expanding “the state’s Sales Tax and Revenue (STAR) Bond program, which is meant to help finance tourism and entertainment districts to help pay for a professional football or baseball stadium of at least $1 billion.”
How did a coalition of progressives and social conservative(s) kill an “agreed to” sports betting bill in Minnesota? Planning, solid procedural strategy, the benefit of legislative deadlines, and finding an ally in the Catholic Conference. It was also noted that the bill did not have the support of the horse track community. A perfect storm perhaps.
In 2022, Washington State imposed a 7% capital gains tax. For its first year, the tax revenue was $786 million. This November voters could vote to repeal it. The initiative to repeal the capital gains tax is being funded by hedge-fund millionaire Brian Heywood.
Seattle Times | Keep or repeal the capital gains tax? Voters will decide in November
This week’s primaries included North Dakota. In North Dakota, 61% of voters approved an age limit of 81 for federal candidates. @nbcnews
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