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State Budgets

Cozen O'Connor

Broad Street Brief: City Council Passes FY26 Budget, HOME Bills

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City Council Passes FY26 Budget, HOME Bills- During their final meeting before summer recess, the City Council passed a staggering 58 bills, including the FY26 Capital and Operating Budgets, business and wage tax cuts, and...more

Cozen O'Connor

Cozen Cities - June 11, 2025

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BOSTON—City Receives $7.4M for Office-to-Residential Conversions -Massachusetts Governor Maura Healey (D) allocated $7.4 million to support two office-to-residential conversion projects in downtown Boston, part of a broader...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/9)

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Ethics legislation stalls in Springfield as Senate president tries ‘brazen’ move that would have helped his election case - “In the closing hours of the Illinois General Assembly’s spring session, Senate President Don Harmon...more

Nossaman LLP

Proposition 4: California’s Historic $10 Billion Climate Investment and Path to Resilience

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In the November 2024 election, California voters approved Proposition 4 – the Climate Bond, authorizing the state to issue $10 billion in general obligation bonds to fund climate resilience and environmental conservation...more

Cozen O'Connor

Pennsylvania Perspective for Monday, June 9, 2025

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Gov. Shapiro Launches “Deliberative Polling” to Foster Bipartisan Dialogue -Governor Josh Shapiro (D) launched a three-day deliberative polling event in Philadelphia aimed at encouraging informed, cross-partisan discussions...more

Cozen O'Connor

Broad Street Brief Special Edition: Council Approves FY26 City Budget

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On the evening of Thursday, June 5, the Philadelphia City Council granted preliminary approval to several bills related to Mayor Cherelle Parker’s $6.8 billion FY26 City Budget with minimal changes to the initial proposal,...more

Cozen O'Connor

Pennsylvania Perspective for Thursday, June 5, 2025

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GOP Lawmakers, Urging Fiscal Restraint, Push for $47.9B Budget - At a conference hosted by Pennsylvanian Republican legislators and Americans for Prosperity Pennsylvania, the GOP hardliners accused Governor Josh Shapiro (D)...more

Cozen O'Connor

Broad Street Brief: FY26 Budget Negotiations Entering HOME Stretch

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FY26 Budget Negotiations Entering HOME Stretch - Thursday marks the final opportunity for the City Council to advance bills—including those tied to Mayor Cherelle Parker’s $6.7 billion proposed budget and Housing...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/4)

Cozen O'Connor on

With electric prices going up, advocates tried — and failed — to reform the energy sector - “Heading into the end of the legislative session, consumer advocates, renewable energy industry groups and environmental advocates...more

K&L Gates LLP

Victorian Government to Extend the Temporary Off-the-Plan Duty Concession

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As part of the 2025–2026 Victorian State Budget announced on 20 May 2025, the Victorian government has confirmed that it intends to extend the availability of an expanded off-the-plan stamp duty concession for a further...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/2)

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Illinois Democrats pass budget in final minutes with sports betting tax hike- “Illinois lawmakers approved a $55.2 billion state budget package minutes ahead of a key constitutional deadline Saturday night, relying on tax...more

Cozen O'Connor

Pennsylvania Perspective for Monday, June 2, 2025

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

King & Spalding

Budget Reconciliation Bill Impacts Medicaid Financing, Programs, and Eligibility

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

Brownstein Hyatt Farber Schreck

Maryland’s Mixed Bond Rating

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

Cozen O'Connor

Pennsylvania Perspective for Thursday, May 29, 2025

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

Epstein Becker & Green

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

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

Cozen O'Connor

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

Cozen O'Connor on

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

Pillsbury Winthrop Shaw Pittman LLP

California Governor Releases 2025 Budget Proposal to Move Banks and Financial Corporations to Single-Sales-Factor Apportionment

The proposal includes a shift to a single-sales-factor apportionment formula for financial institutions, aiming to increase tax revenue starting in tax year 2025. Update: On May 14, 2025, Governor Newsom released the May...more

Troutman Pepper Locke

Understanding New York’s New Buy-Now-Pay-Later Law

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New York has included a “Buy-Now-Pay-Later Act” as part of its broader budget legislation for the 2025-2026 fiscal year. Encapsulated in Article 14-B, the Act aims to regulate the burgeoning market of buy-now-pay-later (BNPL)...more

Bond Schoeneck & King PLLC

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

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

Winthrop & Weinstine, P.A.

Legislative Top 5 - May 2025 #4

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

McCarter & English, LLP

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

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

Brooks Pierce

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

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

Cozen O'Connor

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

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

BakerHostetler

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

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

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