The Fiscal Link - June 2013

Your On-Line Connection to the Latest Fiscal Information in the States .

NCSL & National Association of Legislative Fiscal Offices (NALFO) Updates

  • Registration is now open for the 2013 Fiscal Analysts Seminar! The Seminar will take place in Annapolis, Md., Oct. 7-9. Get more information and register online here.
  • NCSL 2013 Legislative Summit. The nation’s premier meeting of legislators and staff takes place this summer in Atlanta, Ga, Aug. 12-15. Legislators and legislative staff from all 50 states come together at NCSL’s Legislative Summit to work on America’s toughest issues. You will meet colleagues from across the country, share ideas, talk with experts, learn from nationally renowned speakers, discover policy solutions and develop a states’ agenda for NCSL to take to Washington, D.C. NALFO sessions at the summit will include: a federal budget update, legislative oversight of federal funds, the U.S. economic outlook, studying retirement and outcomes-based budgeting. Click the image below for more information.
  • Tax Trends from the Recession. This article from State Legislatures Magazine examines the impacts of budget shortfalls on state tax policy.
  • Fiscal Year 2014 Budget Status. This table tracks the number of states with enacted FY 2014 budgets.

State News & Reports

  • Connecticut. The Office of Fiscal Analysis published a brief on the state’s FY 2014-FY 2015 budget and the state’s spending cap.
  • New Mexico. The Legislative Finance Committee’s June issue newsletter examines racing oversight, higher education funding, and investment performance in the state.
  • Ohio. The Legislative Service Commission published the “Transportation Greenbook,” which analyzes the features of the FY 2014 transportation budget.
  • Vermont. The Joint Fiscal Office published a “Statement of Legislative Intent,” to clarify certain sections of the state’s enacted budget.
  • Virginia. The Joint Legislative Audit and Review Commission released a report investigating trends in higher education in the state, including costs, funding and enrollment.

Federal News & Reports

  • The U.S. Congress Joint Economic Committee recently released its latest installment of Understanding the Economy: State-by-State Snapshots,” which provides major economic indicators in all 50 states and the District of Columbia in the areas of jobs, unemployment, personal earnings and housing.
  • The U.S. Census Bureau released their quarterly summary of state and local government tax revenue for the first quarter of 2013.
  • The Federal Reserve Bank of Philadelphia issued their latest coincident index for each of the 50 states. The coincident indexes combine four state-level indicators—nonfarm  payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements—to summarize current economic conditions in a single statistic.
  • The Congressional Budget Office published a PowerPoint presentation to the 2013 U.S. Energy Information Administration’s Energy Conference on the effects of tax credits for electric vehicles.
  • The Federal Reserve Bank of Chicago held a conference in April to discuss the impact of financial uncertainties and tax adjustments on economic development. The July edition of the Chicago Fed Letter highlights their findings.

Other Items of Interest

  • The National Association of State Retirement Administrators and the Center for State and Local Government Excellence published a report exploring state retiree health benefit obligations in the states.
  • The Federation of Tax Administrators updated their table on 2013 sales tax holidays in the states.
  • The Nelson A. Rockefeller Institute of Government compiled a report on long-term public sector pension reforms. The report is based on insights from a December 2012 meeting of state and local officials, union leaders and researchers.

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NOTE: Links to external websites and reports are for information purposes only and do not indicate NCSL’s endorsement of the content on those sites.