Finance & Revenue

What is happening? We talked about how stadium leases are coming up for renewal in mass after the building free-for-all of the 80s,90s and 2000s. Chicago Bears are thinking about building a new stadium in Arlington Heights, but the city has ideas to lure them with renovations.

Why is this important? Let’s see what Chicago is offering to keep The Bears at Soldier field: gondolas or clean energy monorail, connected resort hotel, ‘floating pavilions’ and a concert venue. The goal to make it feel more like Disney Land.

How will this be important? There’s going to be a tally of which stadiums are upgraded and which left behind.

NBC Sports | New proposals for renovations to Soldier Field released

What is happening? Missouri is exempting World Cup tickets from its sales tax.

Why is this important? FIFA has a requirement for tax breaks from host cities.

How will this be important? It is estimated that the locally played games could generate over $600 million in economic activity for the state

AP | Parson signs law exempting World Cup tickets from sales tax

What is happening? Phase 2 of stadium building- a boon of stadium renovations. Over the next decade it is estimate $20 billion will be spent on stadium renovations and building.

Why is this important? ” Since 2010, just 14% of the $16 billion spent on stadiums was publicly financed, according to an analysis of a University of Chicago study.” The hay day for stadium building was the 1990s and early 2000s, a time when most stadiums were publicly financed.

How will this be important? The 30-40 year leases of those original stadium builds of the 1990s are coming up for renewal. And what stadiums have to be has changed. Instead of a bunch of concrete, “NFL stadiums in particular have become more luxury- and amenity-laden experiences, maintaining that “standard” has become a much more expensive proposition.”

Governing | For Taxpayer-funded Stadiums, the Renovation Boom Has Arrived

What is happening? Burmese pythons are a threat to the ecosystem of the Florida everglades. The pythons have nob known predators and are eradicating native species.

Why is this important? The State of Florida has a $3 million budget item for pythons. Gov. DeSantis said python removal in the Everglades, including technology such as infrared sensors to locate the hard-to-see snakes in the wild.

How will this be important? There is also an annual python hunt with prizes. This year the hunt will begin Aug. 5 at 8 a.m. and ends Aug. 14 at 5 p.m

AP | Burmese python hunt in Florida Everglades slated for August

What is happening?  University of Virginia law professor Richard Schragger talks the consequences of state preemption on local governments. Laws with unintended consequences…surprise surprise surprise.

Why is this important? Historically state intervention in local land use has been detrimental to minority communities and poor communities

How will this be important? The greatest impact is to affordable housing, the law professor says states are more reticent of affordable housing than most local governments which leads to more gentrification when the state is in control of land use.

Governing | The Bad Things That Happen When States Tell Cities What to Do

What is happening? Wall Street is indicating concerns of financing projects in Texas with the Texas’ financial fossil fuel law. The main concerns among financial institutions is the uncertainty that the Texas causes.

Why is this important? Texas has a similar law supporting gun manufacturers which cost infrastructure projects in Texas hundreds of millions. It is thought the cost will be greater under the fossil fuel law.

How will this be important? Other states,  West Virginia and Kentucky, have passed similar laws snd re watching the impact in Texas.

Dallas Morning News | Wells Fargo warns uncertainty around new Texas energy law amounts to a ‘de facto ban’

What is happening? Sacramento is moving its cannabis revenue into a Childrens Fund.

Why is this important? The coalition of supporters want to “fund youth substance abuse prevention, youth mental health and support for homeless and foster youth”

How will this be important? Supporters took their cue from how tobacco taxes support tobacco prevention and health services.

Cannabis Business Times | Sacramento Officials Introduce Initiative to Use Local Cannabis Tax Revenue to Establish Children’s Fund

What is happening? Montana is the 12th state to adopt recreational marijuana use. In lieu of a multi tiered tax system like in California, Montana opted for a single sales tax and placed no taxes on growing or distribution.

Why is this important? Montana isn’t a sales tax fan, but they did pass a 20% sales tax on recreational marijuana and an optional additional 3% that local governments can levy.

How will this be important? The population of Montana grows by 12 million every summer during tourist season.

The Center Square | Montana’s marijuana industry expects to see sales surge this summer

What is happening? Idaho, like Texas, is 1 of 15 states that is pushing back against the SEC ‘s ESG rules.

Why is this important? A specific brand of Republicans are opposed to ESG because they believe it is “woke.”

How will this be important? In Idaho its Committee on Federalism will be studying “the potential impact ESG ratings might have on Idaho and to propose legislation next session to address any concerns.”

Governing | Idaho Pushes Back Against ‘Woke Capitalism’ Reporting

What is happening? Section 152.052 of the Texas Local Government Code roughly says if a candidate ran on a platform of dissolving the office they seek, then they get no salary if they win.

Why is this important? There’s some uncertainty as to the constitutionality and whether there are conflicting intent requirements, the nerdy stuff that ruffles the feathers of free wheeling campaigning. Or, reality vs. campaign euphoria.

How will this be important? Facts have long been irrelevant in politics. Whether this continues with this A.G. opinion could make things very interesting.

Texas Attorney General Opinion Request RQ -0462-KP

What is happening? Which states have Rainy Day Fund surpluses and how are we measuring the surplus? is it by total value? Is it by how many days of operating expenses the fund can support?

Why is this important? If we look at the number of operating days a state’s Rainy Day Fund can support here is the breakdown:

North Dakota – 116
New Mexico – 101
California – 92
Connecticut – 86
West Virginia – 76
South Carolina – 74
Texas – 62
Georgia – 62
Kentucky – 61

In contrast these are the states that can fund the least number of operating days:

Kansas – 4
Nevada – 8
Maryland – 12
New York – 12
Arkansas – 13
Montana – 16
Florida – 18
New Jersey – 20
Rhode Island – 20
Louisiana – 20
Delaware – 20

How will this be important? Connecticut, Iowa and Georgia have maximum fund balances that allow excess funds to be redirected.

Route Fifty | States With the Highest and Lowest Rainy Day Funds

What is happening? The policy battle over whether gig workers are employees or independent contractors is moving from California to Massachusetts. The State AG is suing to define the workers as employees and in November the question will be on the ballot.

Why is this important? COVID raised issues like who is an essential employee. Is the person who delivers your groceries during a pandemic an essential employee? But they also work on their own time schedule.

How will this be important? This is ongoing. The California ballot proposition passed but is in the courts with ongoing legal battles. Is the compromise in Washington state the model that should be emulated may be the new question.

Route Fifty | Battle Over Status of Uber and Lyft Drivers Returns to the Ballot Box

What is happening? Pennsylvania Governor is proposing using ARPA funds for the PA Opportunity Program that would help residents in this COVID inflationary period. ARPA funds in each state are to help states recover from the economic effects of COVID

Why is this important? The program would provide direct payments of up to $2,000 for Pennsylvania households with an income of $80,000 or less

How will this be important? The state has until December 2024 to appropriate the funds or the funds will return to the federal government.

Gov. Tom Wolf | Gov. Wolf: ‘Let’s Pass This Bill Now’, Continues Push for $2,000 Direct Payments to Pennsylvanians

What is happening? New York is considering  S.9254 (2022 | NY) would tax direct broadcast satellite and video streaming services. The tax would align with the 5% tax cable providers pay in New York.

Why is this important? Many states and local jurisdictions are trying to figure out how to make up for lower cable tax revenues when everyone streams or uses satellite services.

How will this be important? Courts are siding with streamers. The business models of how cable & streamers distribute programming are different. This is also highlighted by a case in Ohio that hinges on the argument that Ohio’s law only covers companies building infrastructure to carry cables.

Observer | State looks to tax streaming services

What is happening? North Carolina Democrats are proposing a gas tax rebate utilizing surplus state revenue.

Why is this important? North Carolina has a revenue surplus and wants to return tax dollars during this high gas price time. North Carolinians would receive a debit card with the rebate funds.

How will this be important? The tax rebate would cost $1.3 billion.

AP | North Carolina Senate Democrats pitch $200 ‘gas tax rebate’

What is happening? Michigan lawmakers are moving forward with a. suspension of the state gas tax for 3 months to help with rising gas prices.

Why is this important? inflation, inflation, elections, elections

How will this be important? The gas tax holiday also includes $300 million revenue replacement for local governments

Huron Daily Tribune | State lawmakers again propose gas tax relief

What is happening? Arizona cannabis revenue in 2021 was $105 million while its alcohol revenue was $92 million.

Why is this important? In some localities the combined taxes on cannabis are 26%. However, medical marijuana users are exempt from the 16 percent “sin tax” 

How will this be important? California is lowering some cannabis taxes as it was noted that if the taxes are too high the illegal sales increase.

Phoenix New Times | Study: Pot Draws More Than Booze in 2021 Tax Revenue for Arizona

What is happening? The conservative, American Legislative Exchange Council, ALEC, has model legislation for pensions. Meet STATE GOVERNMENT EMPLOYEE RETIREMENT PROTECTION ACT.

Why is this important? ALEC wants to say down with you woke people and your woke ideas. My question is what is the opposite of woke? Asleep? So we want to be asleep. The model act sets standards for protecting pensioners from politically driven investment strategies. I’m pretty sure they mean protect pensioner from political driven strategies that they oppose, because technically this act is also a politically driven strategy.

How will this be important? I’m going to repeat myself here: I’m pretty sure they mean protect pensioner from political driven strategies that they oppose, because technically this act is also a politically driven strategy. I’m not making a value judgement on either choice, just don’t be a hypocrite about it.

ALEC | STATE GOVERNMENT EMPLOYEE RETIREMENT PROTECTION ACT

What is happening? Remember that expression- you’ve made your bed, now you have to lie in it? Well, here we are. Utah is miffed at investors who are applying ESG ratings to states for bond purposes. Investors want ESG criteria and States say it’s too subjective.

Why is this important? S&P Global will be assessing states’ ESG exposure. This should been surprise to anyone. SEC has new rules, NASDAQ requires certain ESG standards to be listed on its exchange. It’s not just here. FOREX in Europe – ditto.

How will this be important? S&P has emphasized that ESG data indicators do not change the state’s credit rating criteria. More drama made of this than a telenovela, “Aye! Dios mio!”

Route Fifty | ‘Woke Bond Rating’? The Muni Finance Fight Over ESG Scores

What is happening? Meet “Breaching the Mainstream,’’ a report that tracks legislators that join groups that are white nationalist, paramilitary, QAnon, anti-immigrant, and the like. 875 legislators representing all 50 states have joined these types of groups.  75% of the lawmakers who joined are men. Alaska had the highest percentage joining at 35% followed by Arkansas, Idaho, Montana and Washington.

Why is this important? What is learned in these groups travels with legislators when they are writing laws.

How will this be important? This will emerge during debate, and will impact legislative votes and choices.

Route Fifty | “We were shocked by what we found,” says one person involved in the research.

What is happening? Whistleblowers in Australia are saying that Facebook took down websites of hospitals, emergency services and charities during its opposition to an Australian law that would make platforms pay publishers for content

Why is this important? Facebook says the websites going down was inadvertent. Whistleblowers say it was part of their negotiation tactic.

How will this be important? Digital takedowns as legislation negotiations- that’s new.

Wall Street Journal | Facebook Deliberately Caused Havoc in Australia to Influence New Law, Whistleblowers Say

What is happening? NFTS are growing.  Reno, Nevada Mayor is eying selling an NFT of a city sclupture.  It is estimated that NFT sales last year were $25 Billion.

Why is this important? A digital tax on $25 Billion in sales sounds good to revenue seekers.

How will this be important? The tax policy conundrum is that NFTs can be anything from music to a ticket to an event to art. Keep our eyes peeled as Washington State is the only state that is addressing the issue and will issue guidance later this year.

Route Fifty | Bored Apes, Texting Robots and the Latest Digital Taxation Conundrum

What is happening? 3 Florida taxpayers say the Governor saddled Florida residents with Disney’s debt. The bill dissolved Disney’s taxing district and dissolved all assets and liabilities will be transferred to local governments. As a bonus, Florida legislature also violated the Florida Taxpayer’s Bill of Rights

Why is this important? The lawsuit is a direct response to the passage of the bill removing Disney’s special taxing district.

How will this be important? Disney and Florida can still reach another agreement.

Courthouse News Service | Taxpayers sue Florida governor over anti-Disney law

@theadvocate

What is happening? A new  University of Texas at Austin/Texas Politics Project poll revealed:

• 34% of those surveyed said the growth was good for the state
• 40% of those surveyed said the growth has been bad 
• 27% were neutral on the impact of growth

Why is this important? According to James Henson, “This is the first time that we’ve seen negative views outweighing positive evaluations of the impact of growth on the state.”

How will this be important? Oh the tides can and do change.

KVUE | Texans starting to view continued state growth negatively, new poll says

What is happening? New Jersey joined 13 other states in legalizing the recreational use of marijuana/cannabis. New Jersey did not allow public consumption of recreational cannabis.

Why is this important? Legalized sales began on 4/21 at 13 locations throughout the state. Law enforcement is being paid on their off time for security and note that shops look like e”Apple Stores” and are good neighbors to their communities.

How will this be important? Local governments in New Jersey are looking forward to the local portion of the cannabis excise tax and the local sales tax revenue from those who travel to the 13 locations for purchase.

Route Fifty | New Jersey Legalizes Recreational Marijuana Use

What is happening? The Institute on Taxation and Economic Policy says revenues from legal marijuana sales, state-level cannabis excise taxes totaled $2.9 billion in 2021, compared to about $2.4 billion from similar taxes on alcohol, or profits from state liquor stores.

Why is this important? Alcohol revenue proponents say they are the larger industry and when you consider all their taxation levels, their revenue is greater. However, marijuana revenue is seeing larger increases in revenue, such as the 33% increase in revenue in the two previous years.

How will this be important? While both cannabis and alcohol are sin taxes, the largest source for sin tax revenue remains tobacco. To compare the same states that have 2021 cannabis excise taxes, those same 11 generated tobacco revenue of $5.9 billion over the same time period.

The Institute on Taxation and Economic Policy | Cannabis Taxes Outraised Alcohol by 20 Percent in States with Legal Sales Last Year

What is happening? The non-profit, Heartland Forward, ranks local governments based on being  “more resilient and moving toward better economic futures”

Why is this important? There’s a top 25. Roughly 1/2 are from small states- UT, ID, OR, AR, NV and NC. So how do the large population states fall?

• #1 San Jose CA
• #2 The Villages, Florida
• #3 San Francisco- Oakland-Berkeley, California
• #7 Austin-Round Rock-Georgetown, Texas
• #10 Naples-Marco Island, Florida
• #11 Seattle-Tacoma-Bellevue, Washington
• #20 Crestview-Fort Walton Beach-Destin, Florida
• #22 Colorado Springs, Colorado
• #24 Bremerton-Silverdale-Port Orchard, Washington

How will this be important? The magic combo of characteristics for resilient cities is “mix of technology jobs, outdoor recreational activities, cultural amenities and a university and state capitol,”

Heartland Forward | MOST DYNAMIC METROS, 2021

What is happening? The Great Resignation has entered the land of elected officials. Young lawmakers are more apt to leave because of low pay, exhaustion, and shifting of priorities thanks to the pandemic. This can be seen in the numbers of retirements in CA, MN and TX Legislatures.

Why is this important? It is a function of politics that has grown angrier, more intent on bullying, and resulting in a higher number of elected official who burnout.

How will this be important? It is said the retirement of young elected officials means that there will be more wealthy elected officials and thus will be detrimental to the number of women and people of color who serve.

Route Fifty | Younger Lawmakers Leaving Statehouses For Better Pay, Work-life Balance

What is happening? Missouri is considering SB 739 (2022 | MO) that reduces a certain tax rate by .01 each time the general revenue exceeds the general revenue baseline of $10.3 billion. Reductions are permanent and can occur multiple times in a single year.

Why is this important? The trigger is also NOT adjusted for inflation.

How will this be important? Legislatures love to say they reduced taxes.

Tax Foundation | Missouri Tax Reform Could Give State Competitive Edge

What is happening? California is tweaking its cannabis laws to make it easier to enter the market which thereby limits the impact of illegal sales. Legislation includes, reducing taxes, a tax holiday for cultivation, lowering retail taxation rates, and preempting cities and counties from preventing cannabis sales.

Why is this important? Some say the high taxation rates in California created an opening for illegal sales. The high licensing fees has been seen as prohibiting both small business and diverse businesses

How will this be important? We’re not re-creating the wheel. We’re looking what other states did, what worked, and what didn’t and crafting our own state specific plans.

ABC 10 | 420 Day in California: What’s next for the cannabis industry

What is happening? Missouri has a revenue surplus & is returning tax dollars to Missourians. HB 3021 (2022 | MO) would provide $500 per individual and $1000 per household.

Why is this important? Opponents, bipartisan, say that not all taxpayers will see a return, only 43% of Missouri income tax payers will.

How will this be important? More states are providing economic relief to residents whether under the terms of returning tax revenue or reducing the impact of inflation. All states are going about it differently some tie it to taxpaying status, some tie it to resident status, some tie it to gas use.

STL NPR | House passes bill providing a one-time tax credit for some Missourians

KPVI | Budget committee sends $500 tax credit proposal to Missouri House

What is. happening? Austin City Council is considering a pilot program of a $1000 guaranteed monthly income. Today they paused for two weeks on the pilot program vote.

Why is this important? Programs in other cities have successfully lowered costs beyond the amount of income distributed. Local Governments that have waded into these waters include Helsinki, Finland, Baltimore, Los Angeles County. Chicago, Santa Clara County, Boulder, Palm Springs, Stockton, California, and Durham, North Carolina.

How will this be important? According to techie and former Presidential candidate, Andrew Yang, it is a solution to poverty. In Finland it removed stressors that triggered mental health breaks and provided necessary housing.

Seattle Times | Universal basic income: An argument without end

KUT | Families could get $1,000 a month as part of Austin’s first guaranteed income program

Kela | Results of Finland’s basic income experiment: small employment effects, better perceived economic security and mental wellbeing

Pressenza | Finland ends homelessness and provides shelter for all in need

What is happening? States are deciding on their inflation payouts to residents. NM is settling in to $500 per resident and $1000 per household.

Why is this important? Gas prices are at record highs and inflation is at a high level. All the while, Republican opposition say that the payments will increase inflation in New Mexico.

How will this be important? 12 states are considering these payments. More will likely jump on board in 2023.

AP | New Mexico legislature approves $500 payments to residents. Here are the details

What is happening? In 2021, U.S. States collected $3.7 Billion in revenue from the sale of cannabis products.

Why is this important? That’s up 34% from 2020

How will this be important? IN 2021 California had the highest revenue at almost $1.3 Billion. In 2022, California is considering legislation to reduce some of this tax revenue as the high tax rates make it difficult for independent and small businesses to participate.

Marijuana Moment | States Collected More Than $3.7 Billion In Recreational Marijuana Tax Revenue In 2021, Report Finds

Tenth Amendment Center | California Bill Would Eliminate and Reduce Some Taxes on Marijuana Growers

What is happening? The Comptroller and XM Radio had a kerfuffle on franchise fees. Xm maintained that since XM had little equipment and little producing of shows in Texas, that it could only be taxed for that which was created in Texas. The Comptroller, what catches taxes is that each radio decrypts the XM shows.

Why is this important? The Supreme Court agreed with XM and found that “In sum, Sirius has little personnel or equipment in Texas that performs the radio production and transmission services for which its customers pay monthly subscription fees. The court of appeals’ decision apportioning to Texas all of Sirius’s receipts from Texas subscribers must be reversed.” 

How will this be important? It may foreshadow how the TX Supreme Court rules on taxing streaming services.

SE Texas Record | Texas Supreme Court sides with Sirius XM in dispute over franchise taxes

What is happening? New Hampshire has education savings accounts, vouchers, what ever you want to name them. But, it turns out the kiddos are staying put in their schools. Those grants average $4,600 per year; families must make below 300 percent of the poverty level, or $79,500 for a family of four, to qualify for them.

Why is this important? As of March 1, 2022, 1,800 had enrolled into the education savings accounts. 204 of those were in public school before moving to private school Leaving nearly 1600 vouchers being given to students already in private school or being home schooled.

How will this be important?  0.13% of all New Hampshire public school students have left to private school under the state’s voucher/education savings account program.

New Hampshire Bulletin | Most education freedom account recipients not leaving public schools, department says

What is happening? Mercatus Center at George Mason University estimates that states and cities spend an estimated $100 billion every year with no return on that investment.

Why is this important? But wait! Mercatus Center at George Mason University. goes further and says that economic development funds actually slow down national economic growth

How will this be important? 18 states have proposed a multistate compact to stop economic development funding.

Governing Opinion from Mercatus Center at George Mason University | A Chance for Disarmament in the Economic Development Subsidy Wars

What is happening? California, Kansas, Minnesota, & Maine are all figuring out how to gives state taxpayers a rebate to combat rising inflation.

Why is this important? Each state has a different approach. Maine is proposing a direct cash rebate of $850.

How will this be important? In contrast other states are proposing tax cuts, which some experts say are more problematic because at some point that revenue will have to be raised again.

AP | US states seek to ease inflation burden with direct payments

What is happening? Massachusetts Speaker announced new optimism in divesting from businesses that have a Russian financial interest. Massachusetts pensions say they need legislative authority to divest.

Why is this important? When Massachusetts first announced Russian divestment, the Russian stock exchange was not opened and it was unsure whether the Russian stock market would reopen.

How will this be important? The now open Russian stock market gives states the opportunity to divest.

The Patriot Ledger | Mariano now optimistic Mass. can pull its pension money out of Russia

What is happening? Nearly 500,000 people have traded-in out of state drivers’ licenses for Texas licenses since the pandemic began.

Why is this important? Roughly 20% of the new Texas drivers licenses replaced a California license. Florida was next, but had 1/3 of the numbers of California.

How will this be important? This trend is all over Texas. Travis County (Austin) had the highest number of Californians. Houston had the highest percentage of drivers license swaps over all, and Comal County, north of San Antonio, had the highest ratio of licenses surrendered in the county to the county population.

Houston Chronicle | Texas drivers license data reveals where new Houston residents are coming from

What is happening? The Highest Court in the State of New York ruled that Fantasy Sports is not gambling.

Why is this important? The NY Legislature passed a bill to support fantasy sports and citizens sued that it was an illegal carve out from the state’s ban on gambling.

How will this be important? “Studies showed that skilled players achieve significantly more success in IFS contests and that rosters of skilled human players were more successful in IFS contests than randomly generated lineups of over 80% of the time,” Chief Judge Janet DiFiore wrote in the 25-page majority opinion.

Courthouse News Service | Fantasy sports ekes out a win after NY high court legalizes contests

What is happening? Los Angeles United School District has established $50 college savings account for every 1st grader in the district.

Why is this important? The program began with a pilot in 2021 in high needs schools

How will this be important? Research that found that children — regardless of their background — are up to 7 times more likely to attend college if they have a savings account.

ABC 7 LA | LA launches largest children’s college savings account program in nation

What is happening? Inflation and cash reserves are moving tax breaks to the forefront.

Why is this important? With midterms this year, let’s see what Republican Governor are talking about:

• Iowa Gov. Kim Reynolds (R) championed a measure that replaced the state’s progressive income tax with a flat tax of $3.9%
• Georgia Gov. Brian Kemp (R) signed a $1.6 billion plan that would send refunds to people who paid taxes in 2020 and 2021
• Indiana Governor Eric Holcomb(R) initially opposed and then supported a 7 year plan to reduce the state income tax. The change in opinion came after seeing healthy state revenues.
• Idaho Gov. Brad Little (R) supports a one-time rebate and that includes future reductions in income taxes 

How will this be important? The biennial legislatures will be considering similar ideas in 2023.

Route Fifty | It’s a Big Year for State Tax Cut Proposals

What is happening? To cope with rising gas prices, California is looking for ways to ease the impact on its residents.

Why is this important? They can’t agree on how to get money back into the hands of Californians. Some say a $400 check to each taxpayer. Some say a tax refund payments to taxpayers under a certain income level starting at $200 and increasing based on a household’s number of dependents. Finally some say $400 per vehicle.

How will this be important? Rising gas prices and inflation aren’t just impacting California, other states will be grappling with this issue.

Sacramento Bee via Governing | Who Should Get California’s Proposed Inflation Relief Checks?

What is happening?  36% of public servants are considering leaving their jobs after having worked through the pandemic. That’s up from 20% in 2020.

Why is this important? IN 2020, 20% of government workers reported no remote working. Now, 70% report no remote working.

How will this be important? 49% are satisfied with their government employers. This has decreased from 52% in 2020.

Route Fifty |  36% of public servants Are Considering Quitting Their Jobs

What is happening? Alabama is considering using a random method to determine a tied election. Currently this is allowed for county and statewide elections in Alabama. HB 144 (2022 | AL) would extend this to city elections.

Why is this important? Run offs or special elections are costly to administer. 28 states allow tied elections to be determined by drawing lots. Florida, Kentucky, and Mississippi have similar structures to Alabama.

How will this be important? Someone has to name the official coin flipper in these rare case situations.

Governing | Alabama Proposes Randomly Deciding Tied City Elections

What is happening? Texas is 48th in Arts funding according to the  National Assembly of State Arts Agencies.

Why is this important? Texas spends 39 cents per resident on arts funding. In comparison California spends $3.16 per resident, New York $2.39, and Florida spends $1.41

How will this be important? States vary on whether they dedicate tax revenue to arts. NJ and NV dedicate part of their hotel/motel tax. DC, MN, and MS all dedicate a portion of their sales tax. Arkansas dedicates a portion of their conservation tax, and Missouri dedicates part of the income tax on out of state entertainers and athletes.

State Arts Agency Dedicate Revenue Strategies

AXIOS | Texas’ limited arts investments

What is happening? States calling for Russian divestment is a hot topic. Maryland Legislature is in session and considering HB 1482 (2022 | MD) that would do the usual- divest state funds from Russia related interests.

Why is this important? This bill establishes these 2 exceptions, that would not require divestment if:

(1) the U.S. government affirmatively declares to be excluded from federal sanctions and
(2) the divestment cannot be executed for at least fair market value

How will this be important? During debate in the Maryland House, Republicans attempted to also divest from China.

Maryland Matters | Legislative Roundup: Gas Tax Holiday, Russian Pension Divestment, and Scrutinizing Kaiser’s New Gig

What is happening? An Executive Order by President Biden on cryptocurrency is seen as a means to open gaming to cryptocurrency.

Why is this important? Some say cryptocurrency regulations may get fast tracked because  “Russian individuals and companies might try to evade economic sanctions by using cryptocurrencies.”

How will this be important? Currently some Nevada based casinos have ATMs for cryptocurrency to allow for gaming.

Nevada Independent | Indy Gaming: Federal review of cryptocurrency policy welcomed by gaming

What’s happening? Florida Legislature for procedural reasons did not vote on a Russian divestment amendment. The Florida Governor has not called for divestment. Florida Sen. Rick Scott has called for states to “end relationships with the Russian governments.

Why is this important? In contrast, the Florida Governor pushed for divestment from Ben & Jerry’s.

How will this be important? The politicization of investment funds is a gaining steam.

Governing | Florida Avoids Voting on Divesting from Russian Companies

What is happening? The Texas House Committee on Ways & Means will dig into “a comprehensive review of the impact of not renewing Chapter 313, Tax Code. Evaluate tax incentives offered by other states and make recommendations for incentivizing manufacturers and other capital-intensive businesses to locate to Texas.”

Why is this important? Look at the target audience- manufacturers and capital intensive businesses.

How will this be important? Texas wants to bring the origins of the supply chain to Texas.

What is happening? Texas Legislature has a long tradition of creating special districts, like the Municipal Management District. This year the Texas House Committee on Urban Affairs is going to study Municipal Management Districts.

Why is this important? The Legislature will review the “Municipal Management District Legislative Template with respect to representation and accountability. Make recommendations for improving the template.” MMDs are largely identical.

How will this be important? The Legislature wants to improve transparency in a very insulated and high dollar enterprise- the MMD world.

What is happening? The Texas House Committee on State Affairs will be studying “… the impact of state government procurement of goods and services from businesses and other commercial entities owned or controlled by the Russian government or Russian nationals, and determine the need for restrictions on state government procurement. Consider the impact of any proposed procurement restrictions on state government efficiency and effectiveness and the state’s access to scientific and technological advances.”

Why is this important? Part of divestment is limiting contracts that have Russian ties.

How will this be important? It will be interesting to see if future divestment bills also have a procurement component.

What is happening? The Texas House Committee on Pensions, Investments and Financial Institutions will study “..the impact of investments by public retirement systems of their endowment and other trust funds in businesses and funds owned or controlled by the Russian government or Russian nationals, and determine the need for investment restrictions. Consider the impact of any proposed investment restrictions on fund performance.”

Why is this important? The number of corporations, financial institutions and more that are moving its goods, services and funds out of Russia keeps increasing as the Ukrainian crisis continues.

How will this be important? Divestment from Russian interests and the effectiveness thereof will test the power of divestment.

What is happening? Legislatures are looking at how to tax online sports wagering. For sorts wagering, NJ taxes  14 percent of the winnings & NY taxes 51%!

Why is this important? Some are saying sports gaming taxes are akin to taxes that should be on the gamification of financial trading by “trading apps that critics claim often underplay risks and encourage emotional, impulsive behavior by rookie investors.”

How will this be important? If states tackle a financial transaction tax, some say a uniform multistate umbrella tax regime for short-term profits is the way to go.

Governing | The Online Gambling Gusher and How to Tax It

What’s happening? A running list of entities divesting from Russia

• Connecticut retirement plans and trust funds
• California retirement plans and trust funds
• Colorado retirement plans and trust funds
• Illinois retirement plans and trust funds
• New York retirement plans and trust funds
• Pennsylvania Liquor Board is pulling Russian vodka from shelves (technically its’ all Russian made alcohol)
• Ohio Division of Liquor Control halted sale of all Russian vodka
• Montgomery County, Maryland all products produced in Russia have been removed from the county’s Alcohol Beverage Services stores
• New Hampshire Governor Executive Order to remove all Russian made alcohol from sale
• Utah Governor Executive Order to to remove all Russian-produced and Russian-branded products 
• Alabama Governor asked its Liquor Board to stop the sale of Russian produced and made products 
• Colorado Higher Education Funds divestment from Russia
• “Gov. Greg Abbott (R) on Saturday called chief executives at interest groups representing restaurants, package companies and retailers to ask that they remove Russian-made products from their inventory.”
• Georgia Gov. Brian Kemp (R) said his state would also “fully divest” from Russian firms.

Why is this important? Divestment is a popular tool for governments to indicate which side of an issue they fall.

How will this be important?

Governing | Connecticut to Divest Russian-Owned Assets from Pensions

Route Fifty | States Look at Pulling Pension Investments From Russia

Route Fifty | The States and Counties Taking Russian Vodka Off Liquor Store Shelves

Colorado Governor Polis Urges Institutions of Higher Education To Examine Divestiture of Russian State-Owned Assets

NY Executive Order No. 14: Directing State Agencies and Authorities to Divest Public Funds Supporting Russia

The Hill | Vodka, pensions, sister cities: Governors move to punish Russia

What is happening? A former Pennsylvania Procurement Officer developed Procurated which allows state and local governmental entities to leave Yelp like reviews on procurement contracts.

Why is this important? The Procurement Officer didn’t understand why he could google information about local restaurants but not about entities that want a $10 M contract from the government.

How will this be important? A meritocracy coming to government that’s potentially game changing.

Philadelphia Inquirer | Ex-Harrisburg official raises $10M for ‘Yelp for government’ review service

What is happening? State of Texas officials have asked that the State Comptroller include BlackRock on the divestment list maintained by the Comptroller. Some say BlackRock is on the side of divestment from fossil fuels.

Why is this important? “[Texas Comptroller] Glenn Hager’s office is still working this up… “

How will this be important? BlackRock also has a segment that focuses on how to make companies carbon neutral. Some say BlackRock encourages reliable energy supplies and affordable energy supplies. Balance that with the sustainability reports made publicly by major fossil fuel companies and perhaps everyone is talking about the same thing in the industry.

Texas Standard | How an enormous investment company is responding to Texas pressure over climate policies

What is happening? Maryland Legislature is considering HB 740 (2022 | MD) that would require state investments, like pensions, to consider climate change impact in their investment decisions.

Why is this important? A new report released in Maryland by Chesapeake Climate Action Network (CCAN) and 350 Montgomery County say the state pension systems “sacrificed significant returns in investment since 2010 by buying and holding “dirty energy stocks.”

How will this be important? According to the researchers, had Maryland divested from fossil fuels beginning in 2010, the pension would have seen gains of 143.77% instead of 128.58%. In short, for every $1,000 invested by the pension fund in 2010, the returns would be $150 greater today had the portfolio divested.

Maryland Matters | Study: Md. Pension Fund Is Losing Money By Holding on to Fossil Fuel Investments

What is happening? Ysleta del Sur Pueblo v. Texas is before the US Supreme Court this week to determine if the tribe can continue Class II Gaming at its reservation near El Paso.

Why is this important? The US Supreme Court has a strong of pro-Native American rulings. If the tribe prevails here, it would be “A win for the tribe in this case will usher in a whole new era of gambling in Texas,” according to a professor at Nova Southeastern University’s Shepard Broad College of Law .

How will this be important? A professor at the University of Oklahoma College of Law thinks the US Supreme Court could hold that IGRA has effectively repealed that provision of the Restoration Acts for each of these tribes that required they abide by the gambling laws of the state.

Casino.org | Texas Tribal Gaming Case Arguments Today at Supreme Court, Other States Watching

What is happening? Tennessee passed a a one-year sales tax exemption that waives the 7% state sales and 2.5% local option tax on sales of firearm safety and storage items. The 1 year tax exemption is anticipated to cost $320,000 to general revenue.

Why is this important? 6 other states offer tax breaks for gun storage, including Connecticut, Maine, Massachusetts, Texas, Virginia, and Washington.

How will this be important? Some say storage equipment is cost prohibited for some gun owners and in lieu of support nonprofit entities distribute locks and other storage equipment.

Route Fifty | Gun Storage Tax Break Is Rare Point of Unity in Firearms Debate

What is happening? SB 1173 (202 | CA) would require CALPERS to divest $9.9 billion from fossil fuels if the CALPERS Board finds in good faith that the action is consistent with the board’s fiduciary responsibilities established in the California Constitution.

Why is this important? The bill is looking for divestment from the Carbon Underground 200 — a list of companies considered to have the greatest potential for future emissions from their coal, oil and gas reserves.

How will this be important? The goal is to reduce emissions and address climate change. Before this notion is discarded as California oriented, 1,500 institutional investors from around the globe, with assets approaching $40 trillion, have pledged to divest their fossil fuel holdings.

Santa Rosa Press Democrat via Governing | California May Require Pension Divestment from Fossil Fuels

What is happening? California Legislature is considering AB 1881 (2022 | CA) that would establish a bill of rights for cats and dogs but does not punish people or organizations. It is a means to avoid animal cruelty.

Why is this important? Animal shelters and animal rescue centers would have to post a copy of the bill of rights on premise.

How will this be important? The group behind the legislation is animal advocacy group Social Compassion in Legislation

Sacramento Bee | A bill of rights for cats and dogs? California lawmakers are considering one

What is happening? Oklahoma is considering SJR 48 (2022 | OK) that would put Voter ID measures into the State Constitution

Why is this important? Opponents say they are not afraid of letting Oklahomans vote on the issue.

How will this be important? Opponents are saying that supporters are letting a national narrative take control of Oklahoma’s policy decisions.

KFOR | Senate head pushes for voting law Constitution change

What’s happening? Missouri lawmakers are moving a measure to require a majority vote of eligible voters to amendment the state constitution. Currently, the threshold is a majority of voters voting.

Why is this important? Walk through this. Say the state has 1 million eligible voters. Currently let’s say 500,000 voters usually vote. A constitutional amendment would currently pass with 250,001 votes. But, under this bill it would require 500,001 voters to approve, a majority of eligible voters.

How will this be important? No constitutional change would pass. Some want to shut down initiative and referendum and others want to protect the constitution.

AP | Missouri House Seeks to Raise Bar to Amend Constitution

What is happening? According to a report from The Economic Policy Institute 21 states passed legislation to raise the minimum wage, 9 states have automatic inflationary increases kicking in this year, & 4 have minim wage increases scheduled.

Why is this important? 34 states red and blue are raising the minim wage

How will this be important? The report stresses that any pre-pandemic assumptions abbot the impact cannot be used because working conditions have changed dramatically.

Route Fifty | The States That Raised Their Minimum Wages

What’s happening? The MD Governor and his executive staff have been using the App,  Wickr, to communicate. The App deletes messages instantaneously or based upon user settings.

Why is this important? The Governor and his staff have been accused of not being transparent by using s system that automatically deletes messages.

How will this be important? SB 307 (2022 | MD ) would re-define public information to include disappearing text messages.

Baltimore Sun via Governing | Hogan and Staff Use Disappearing Texts, Worrying Lawmakers

What’s happening? Denver is considering an ordinance that would require consumers to ask for — or affirmatively accept when asked – extras like plastic utensils, napkins, and soy sauce or ketchup packets with their takeout and delivery orders.

Why is this important? Denver is trying to limit the use of single use plastics and styrofoam.

How will this be important? So far the ordinance does not apply to single use water bottles. It’s all part of the Diminishing Takeout Drawers movement gained momentum during the pandemic.

Colorado Sun | Colorado wants to reduce plastic waste. Here are all the ways it’s happening.

What is happening? California is considering Assembly Bill 1690,  which prohibit the sale of single use tobacco and cannabis.

Why is this important? Supporters include coastal conservationists who are concerned about the cigarette butts and plastics from single use smoking products.

How will this be important? Some see the legislation as an end run against statewide smoking bans.

No cigarette butts? California would ban tobacco filters under a proposed law | Sacramento Bee

What’s happening? As tax credits are met with political opposition, other economic development incentives include- electricity discounts, new college campuses near large projects, and infrastructure improvements like roads and bridges

Why is this important? State and local governments are getting increasingly competitive to our manufacturing projects

How will this be important? let’s keep watch at how creative the incentives get. When I lived in the California Bay Area, incentives included a year of in house chef services….who knows what they think of next.

Route Fifty | In the Race to Win Electric Vehicle Factories, States Are Handing Out Big Incentives at Lightning Speed

What is happening? The Patterson, a Denver Hotel, is adding a cannabis lounge for travelers. All thanks to Denver’s new marijuana hospitality program.

Why is this important? Modernizing the hotel scene for states with legal cannabis policies.

How will this be important? It is viewed as good for business and a way to get cannabis tourism off the streets and out of cars and into a safe hotel space.

9 News | Denver hotel moving forward with plans for marijuana lounge

What’s happening? CATO released its 2021 edition of Freedom in the 50 States.”The personal freedom ranking includes all state & local policies affecting individual freedom, including #VictimlessCrimes, #guns, marriage, #tobacco, #education and others. “

Why is this important? Texas is in the bottom 5 with NY, NJ and HI. “Socially conservative states tend to restrict #alcohol, #gambling, #marijuana, and marriage freedoms “

How will this be important? The Top 5 includes NV, NM, ME, VT and NH.

@CATOInstitute

What is happening? 143 mayors signed a compact on racial equity acknowledging that structural racism exists.

Why is this important? Racial disparities will enter into the calculation as the local leaders spend billions of dollars of federal pandemic aid.

How will this be important?

• The mayor of Louisville, KY, will ask recipients to “show how the money will be used to advance racial equity.”
• “Chokwe Antar Lumumba, the Black mayor of Jackson, Mississippi, said his city is using part of its ARPA funding to make waterworks upgrades meant to improve the flow of water from the showers and faucets in poor communities, which can be only a trickle.”
• Tucson, AZ mayor said ““What we’re trying to do with American Rescue dollars is bring about transformative change through investments in the causes of poverty,” 
• St. Louis mayor: ““It’s a priority for me to address the historic disinvestment of Black and Brown communities,” 

Route Fifty | How Mayors are Factoring in Equity as Their Cities Spend Federal Aid

What is happening? Indiana Cann is a new group created by business leaders to support legalization in Indiana. They say if IN follows the CO model for regulation the state could see $171 million in annual revenue

Why is this important? Paint by numbers and create this group in your state

How will this be important? On repeat here— the legal marijuana industry has been recession/pandemic proof

WFYI | Business leaders launch advocacy group Indiana Cann to urge lawmakers to legalize cannabis

What is happening? NYGovernor revenue estimates indicate over the first 6 years, NY will receive $1.25 Billion in revenue from cannabis if it were to legalize.

Why is this important? In year 1, there will be $56 million in revenue from licensing fees. Thereafter revenue is expected to be $95 million in 2024, $158 million in 2025, $245 million in 2026, $339 million in 2027 and $363 million in 2028

How will this be important? NY is planning to direct revenue from its proposed 9% excise tax, and 4% local tax, on cannabis as follows:

• education 40%
• community reinvestment 40%
• drug treatment 20%
• On the local tax counties get 25% and cities, towns and villages 75%

Marijuana Moment | New York Will Generate More Than $1.25 Billion In Marijuana Revenue Over Next Six Years, Governor’s Budget Estimates

What is happening? AZ has had legalized cannabis for a year and the revenue numbers are in from its 16% excise tax.

Why is this important? IN 1 year, Phoenix cannabis revenue is:

• $17.1 million for Phoenix’s Maricopa Community College District (a 33% share)
• statewide $513.5 million was spent on marijuana in 2021
• Revenue is further appropriated to municipal police and fire districts (31.4%), the Highway User Fund (25.4%), the Justice Reinvestment Fund (10%) and 0.2% to the attorney general

How will this be important? Revenue estimators predict similar returns in future years.

KTAR | Maricopa community colleges get $17.1M from cannabis tax in first year of legality

What is happening? 33 of 45 states, with a general sales tax, added streaming services to their general sales tax according to the Urban-Brookings Tax Policy Center

Why is this important? The Tax Policy Foundation says that if a state extends its sales tax to streaming, it is a better policy decision to do it with a new law and not by administrative rule

How will this be important? As cable revenues continue to fall, states continue to look to alternative Revenue sources. DE added a gross receipts tax for streaming services. FL extended its  communications services tax to streaming services. Some cities like Chicago are applying their amusement taxes to streaming services by classifying streaming services as electronically delivered amusements 

Pew Charitable Trusts via Governing | Cities and States Find New Ways to Tax Streaming Services

What is happening? In Hawaii’s Legislature, a gut and replace amendment was a means to move legislation along more quickly when the process was slowing passage. In Hawaii, the League of Women voters sued, and the HI Super Court declared the amendments unconstitutional.

Why is this important? The Court found these amendments played fast and loose with germaneness.

How will this be important? California uses gut and replace amendments but has a voter approved required 72 hour layout for last minute amendments. 13 states, including Texas require that amendments relate to the bill’s original purpose. The long and short of it is that people are paying attention to amendments and rules.

Route Fifty | Legislators Return to Session No Longer Able to Use Shortcut for Passing Bills

What’s happening? 3 states have pending legislation to require disclosure of economic development deals.

Why is this important? It is red states and blue states. Florida HB 6059 (02 | FL). New York S1196 (2022 | NY) Illinois SB 3038 (2022 | IL)

How will this be important? Disclosure would include elements of economic development deals not previously disclosed including tax incentives, payments in lieu of taxes, tax abatements, loans, grants and tax rebates, as well as bonds and notes.

Route Fifty | Legislation Seeks to Block Secrecy With Economic Development Deals

What is happening? California anticipates an $31 billion annual budget surplus. Proposals include funding for retail organized crime, paying down pension debt, stopping prison hazing, dyslexia education resources, early childhood education, infrastructure, and building up the social safety net.

Why is this important? Last year’s budget included COVID relief and stimulus checks to Californians.

How will this be important? As economic indicators remain positive, there will be more state budget surpluses.

Sacramento Bee via Governing | How Will California Spend Its $31 Billion Budget Surplus?

What’s happening? The Hawaii Legislature has a new caucus, the  Working Families Caucus. The membership includes Republican and Democrat legislators in both chambers.

Why is this important? The  Working Families Caucus will support paid sick leave, a permanent and refundable state earned income tax credit, family leave programs a tax credit for renters.

How will this be important? As one member said, the political grounds shifted during the pandemic making this type of legislation more realistic.

Honolulu Star Advertiser via Governing | Hawaii Lawmakers Coalition to Uplift Working-Class Households

What is happening? Montana has had recreational cannabis sales for 1 weekend. That weekend amounted to $1.5M in sales in MONTANA., that’s $300,00 in tax revenue.

Why is this important? Montana has a sales tax rate of 20% for cannabis. Montana will also allocate the first $6 million in revenue to fund a Medicaid program to increase behavioral health and addiction treatment. The next 20% to wildlife programs and following that $300,000 for law enforcement grants.

How will this be important? COVID has not slowed cannabis revenue

AP | Recreational marijuana sales in Montana top $1.5 million in first weekend

What is happening? First came Florida, and now add Missouri. Missouri Gov. Mike Parson (R) also shot support for a $15 minimum wage by setting state government pay at a $15 minimum.

Why is this important? Missouri needs to retain and recruit employees. When essential workers for the state make less than retail jobs, the state struggles to obtain workers.

How will this be important? It is happening on the local level too with Milwaukee, New Orleans and Tallahassee, Florida all increasing minimum wages to $15/hr

Route Fifty | A GOP Governor Backs a $15 Wage Minimum for State Workers

What is happening? California Public Employees’ Retirement System and New Jersey’s Common Pension Fund have invested in companies that make money by mining for Bitcoin. Fairfax Co. VA retirement system invested in blockchain. 33% of institutional investors have invested in cryptocurrency. For CalPers the investment is 4% of their funds.

Why is this important? 33% is an increase from 22% in 2019. 90% say they will invest within 5 years

How will this be important? Times are changing, Securities and Exchange Commission Chairman Gary Gensler signaled that crypto exchanges should register with the SEC 

Route Fifty | Why More Public Pension Funds Are Investing in Cryptocurrencies

What’s happening? A bipartisan group of Michigan legislators have passed through its House economic incentives to lure and retain commercial and manufacturing interests in Michigan.

Why is this important? There’s a distinct messaging change from economic development or business incentives to…..calling the fund the The Strategic Outreach and Attraction Reserve and calling the incentive programs  Michigan Strategic Site Readiness Fund and the Critical Industry Fund.

How will this be important? Let’s watch other states follow this lead and change the focus from the business receiving the funds to the monikers that focus on the needs of the state. It’s like self care for states.

Detroit News via Governing | Michigan Legislature Advances Business Incentive Program

What’s happening? The federal Freedom Caucus is spreading its wings and creating the State Freedom Caucus Network.

Why is this important? More money, more resources for state organizations.

How will this be important? Like minded officials from these states will attend the initial meeting: Alabama, Alaska, Arizona, Connecticut, Florida, Georgia, Idaho, Illinois, Minnesota, Mississippi, Missouri, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wyoming.

Route Fifty | House Freedom Caucus Takes Its Crusade to the States

What is happening? New York Legislature is considering S7554 (2021 | NY) that would create a tax credit to support small, local publications and broadcast stations

Why is this important? The tax benefits would be 2 fold:

• grant a personal income tax credit of up to $250 per year for taxpayers who subscribe to a “qualifying local news publication,” 
• a business tax credit directly to qualifying publications and broadcast stations to help offset the cost of paying journalists. The credit would be based on a percentage of each reporter’s wages, up to $12,500 per quarter

How will this be important? Stakeholders crafting this legislation include New York Publishers Association

Route Fifty | Extra, Extra! State Lawmakers Propose Tax Credit to Help Save Local Journalism

What’s happening? Want to know how a variety of governmental entities are spending their ARPA, American Rescue Plan Act, funds, then look no further than http://results4america.org/tools/arp-dashboard/

Why is this important? Kevin up with the Jones is a rudimentary part of the governmental process. This tool will track spending types, instance, public health, offsetting lost revenues or infrastructure, and provide insight into whether the spending is equitable.

How will this be important? I can’t recall anther federal government tool that allowed for easy access tracking of federal funds.

Route Fifty | A Look at How 150 Governments are Planning to Use ARPA Funds

What is happening? The November 2022 ballot in California will likely include a proposition for the Living Wage Act of 2022 that will raise the minimum wage to $18 for all businesses by 2026.

Why is this important? The initiative would not only raise the minimum wage from he current $15, but would also remove the current staggered standards of  $14 an hour for businesses with 26 or more employees and $13 an hour for smaller businesses.

How will this be important? just as the $15 minimum wage moved across the country, including successfully in Florida, this will pop up in other jurisdictions as well

L.A. Times via Governing | Momentum Builds to Get $18 Minimum Wage on California Ballots

What’s happening? San Francisco Commissioners unanimously approved the suspension of cannabis taxes through the end of the year to cut down on illegal cannabis purchases.

Why is this important? Legal cannabis retailers are struggling against illegal markets. A Legislative study showed that the illegal market grew as the sales tax rate increased.

How will this be important? The correlation between the tax rate an illegal sales may shape legislation

KPIX5 SF | San Francisco Suspends Cannabis Tax To Combat Illegal Marijuana Sales

What’s happening? Oklahoma is offering incentives for tv and film production and it’s working.

Why is this important? Sundance film darlings, upcoming Martin Scorsese big-budget “Killer of the Flower Moon, and more had the OK Legislature in July 2021 pass incentives that include:

• $30 million cash rebate available — set until 2031 —
• a base rebate rate of 20%
• with the opportunity to reach 38% in a rebate

How will this be important? “The fact that there is such a direct and easy communication with the governor’s office, which is not obvious in other states, is truly helpful. You know, you have a problem. Let’s figure out a solution and address it,” says Dylan Brodie, associate production on FX hit series “Reservation Dogs” and owner of Eleven Hundred Studios Collective in Tulsa.

Variety | Oklahoma’s Stable Incentives, Studio Space and Crew Boosts Production

What’s happening? To offset the decline in tourism from COVID, Thailand is considering allowing tourists to pay with cryptocurrency.

Why is this important? It is the cooperation necessary for this to happen. Thailand’s Tourism Authority is working with regulators and a local crypto exchange to pave the way for the acceptance of digital tokens for travel.

How will this be important? If this model works, will others use it? Think of Miami, FL and Miami Coin. Is that the open door?

@bloombergbusiness

What’s happening? Boston’s new mayor, Mayor Michelle Wu, signed an ordinance that prohibits the use of city funds in investments in the fossil fuel industry.

Why is this important? Unlike blanket divestments, it applies to any company that derives more than 15% of its revenue from coal, oil, natural gas, and fossil fuel products. 

How will this be important? It is estimated the ordinance will pull $65 M of Boston’s funds from fossil fuel invested companies. In June Maine divested from fossil fuels statewide. In January NYCs 2 main pension funds divested from fossil fuels.

@howthisher

What’s happening? San Diego is considering reducing cannabis production taxes from 8% to 2% to increase production of edibles.

Why is this important? The reduction in production tax is seen as a hurdle for small businesses to enter the market & address a gap in the local supply chain.

How will this be important? Ideally the increase in production will allow for more local product to be sold and reduce the trucking of supplies in San Diego.

San Diego Union Tribune | San Diego may lower cannabis taxes on production businesses to encourage more to open

What is happening? Voters in Ouray, CO approved a 15% increase in short term rental taxes.

Why is this important? 57% approval rating and a 30 year Sunset provision.

How will this be important? The revenue will be dedicated to  water and wastewater treatment plant projects and future housing programs

9 News | Ouray approves short-term rental tax

What is happening? Atlanta is testing out a new child savings account and guaranteed income program.

Why is this important? Child Savings Account Program offers a one-time deposit of $50 into an educational savings account for Atlanta Public Schools kindergarteners from low-income households. This program will be a partnership with  Operation HOPE, Inc. to establish the program along with a $2 M contribution from the City.

The guaranteed income pilot will be a pilot partnership with the City and a  Urban League of Greater Atlanta along with a $2M contribution from the City.

How will this be important? It is an innovative solution to the pervasive economic insecurity and income inequality.

Fox 5 Atlanta | Atlanta City Council passes child savings account, guaranteed income programs

What is happening? In 2017, we were gifted with Opportunity Zones that made promises of drawing down billions of dollars of investment to struggling communities across the country, providing needed capital for businesses and helping bolster local economies.

Why is this important? The economic benefits aren’t clear and some say Opportunity Zones only benefit is ” outsized tax benefits to the rich.”

How will this be important? “Without those reporting requirements there’s no possible way to have an honest, balanced hearing around the benefits that are really important to the poorest people in this country.” –U.S. Sen. Tim Scott, a South Carolina Republican

Route Fifty | With Scant Data, Questions Hang Over Opportunity Zones

What’s happening? Sandwich, MA will vote whether to repeal the ban on single use plastic.

Why is this important? 10 of Sandwich’s neighboring towns have also passed the single use plastic ban

How will this be important? Those wanting the ban repealed are relying on these arguments: potential harm to small businesses, health concerns and the continued sale of sports drinks and soda in plastic bottles.

Cape Cod Times | Sandwich to vote on plastic bottles, jet skis and bicycle path at special town meeting

What is happening? Washington State voters rejected a proposal that would have created a 7% capital gains tax on more than $250,000.

Why is this important? The carafe outs created in the legislation, Senate Bill 5096, would exempt assets like sales of retirement accounts, real estate, livestock, some agricultural property and timber, sales of sole-proprietor businesses that have a gross revenue up to $6 million, and  some auto dealerships.

How will this be important? Was this a timing issue or a substantive issue?

Seattle Times | Washington voters rejecting new 7% tax on capital gains in nonbinding advisory measure

What’s happening? New Jersey Voters voted down an expansion of sports betting in state college sports.

Why is this important? New Jersey will be the only state with legal sports wagering that does not allow bets on in-state college sports.

How will this be important? It is an interesting question for the other states that do not permit sports betting- is it ok for professional teams but not for colleges?

NJ.com | N.J. Election 2021: Voters reject college sports betting expansion, support more bingo