This in turn creates relief for public schools from variable costs, which creates savings for taxpayers despite the reduction
in state tax revenue.
All of the remaining
state tax revenue from these casinos will go directly to the areas in and around the new casinos.
A significant number of states are experiencing severe budget deficits due to loss
of state tax revenues and no quick turnaround is expected.
The report noted that the new budget brings more than $ 10.5 billion in newly authorized bond debt, even
as state tax revenue projections have been trending downward.
A new report
says state tax revenues increased in the final three months of last year as the improving economy boosted income and sales taxes receipts.
In a four - five vote divided along liberal / conservative lines, the U.S. Supreme Court on Monday ruled against Arizona taxpayers who filed a suit challenging a state tax program that uses
state tax revenues for scholarships to private religious schools.
Finally, well - designed STC programs such as those in Arizona, Florida, and Pennsylvania actually save states money by decreasing state expenditures more than they
decrease state tax revenue.
In the same year, the Commonwealth Foundation reported that Pennsylvania saves $ 512 million a year as a result of its STC program, while reducing
state tax revenues by about $ 40 million.
The Division of the Budget estimates that these tax cuts are
reducing state tax revenues by about $ 15.4 billion this year and an estimated $ 15.8 billion next year.
If betting on sports comes to New York, it could bring in an influx of
new state tax revenue — and at least one state lawmaker, Long Island Sen. Todd Kaminsky — would want it to be used on the environment.
A prolonged downturn in oil and natural gas markets continued to ripple through New Mexico's economy over the summer and into the fall,
undermining state tax revenues.
After several years of budget surpluses, New
York state tax revenue is coming in at a lower - than - expected rate.
Hevesi Repays State Additional $ 90,000 for Use Of Driver [AP] State Tax Revenue Surges Despite Slowing Economy [Nelson A. Rockefeller Institute of Government]
State tax revenue at all levels is not meeting estimates, Comptroller Tom DiNapoli found in a mid-year budget update released this morning.
Just days before the Hurricane struck, Comptroller Thomas DiNapoli issued a mid-year analysis
showing state tax revenues are not on target and collections would have to grow 6.5 percent the remainder of the year to make up for the lower - than - expected revenue.
Cuts from Washington, questions
over state tax revenues and billions of dollars in out - year gaps pose significant threats,» DiNapoli said.
It includes plans for the world's largest convention center in New York City, a $ 1 billion jobs initiative for the long distressed city of Buffalo and a push to expand gambling for
more state tax revenue and jobs.
«In our view, the new state constitutional provision will partially mitigate California's volatile revenue structure by setting aside windfall revenue for use during periods
when state tax revenue could fall materially short of forecast,» S&P said in a report.
However this latest set - to is resolved, Washington joins the swelling ranks of school districts forced to lay off teachers, cancel textbook orders, trim summer - school plans, raise school - lunch fees or take other measures to close budget gaps caused by
falling state tax revenues.
The dramatic increase in charter costs compounds the financial hardship for public school districts reeling from a 4 % cut in state education aid because of
declining state tax revenue.
IHS, perhaps the most respected independent energy consultancy, says the industry will be able to support 3.3 million jobs, adding more than $ 125 billion to state coffers
through state tax revenues by 2020.
Texas: As of November 2015,
state tax revenues from oil and natural gas production plummeted 48 % and 51 %, respectively, versus a year ago, according to the state comptroller of Texas.
Welner objects to my statement that «well - designed STC programs such as those in Arizona, Florida, and Pennsylvania actually save states money by decreasing state expenditures more than they
decrease state tax revenue.»
As state tax revenues have climbed in recent years, virtually every state agency has requested an increase to their budget.
On Monday, for example, state comptroller Tom DiNapoli reported that
state tax revenues for May were nearly $ 4 billion, which was $ 166 * million ahead of projections; much of that money comes from the rebound of the city's financial industry.
City officials argued that the city accounts for about 57 %
of state tax revenue and the state has an obligation to fund Medicaid and other services for residents in the five boroughs.
The report found that the Diaper Bank's distribution of free diapers to low - income families is associated with increases in the personal income of recipients, the elimination of medical expenses and increases
in state tax revenue.
«One thing is for sure,» the reports says, «state and local governments face large fiscal uncertainties and state forecasters are struggling to sort out various impacts of the TCJA on
the state tax revenues.»
Last year was — yet again - a lackluster one when it came to
state tax revenues, according to a Rockefeller Institute report.
This simplistic narrative ignores how the nation's deep recession has shrunk city and
state tax revenue and omits the fact that plummeting stock markets have decimated government pension funds.
State tax revenues are down, contributing to the largest structural budget gap in seven years.
State tax revenues, total wages, and personal income are projected to grow by four to six percent annually over the next four years.
By law, 80 percent of
the state tax revenue from these casinos will be used to fund public education or property tax relief in all parts of New York.
If the anticipated growth in jobs and income in the oil and gas industry does not occur, then the desired indirect and induced economic impacts will not occur, and local and
state tax revenues will not grow as hoped.
At a time when state finances have been racked by the recession, the U.S. Supreme Court is considering a number of cases that could have major implications — either adverse or positive — for
state tax revenues.
State tax revenues have recovered with the end of the recession, and Scott has pushed to move the budget back up each year since, which has led to his current claim.
Proposal A created a new system that reduced the disparities by combining local and
state tax revenue in a complex per - pupil funding source called the «foundation allowance.»
Neither Mr. Bedrick nor I can know if he's correct in the statement, «Well - designed STC programs such as those in Arizona, Florida, and Pennsylvania actually save states money by decreasing state expenditures more than they decrease
state tax revenue.»
Gov. Andrew Cuomo needs to promote EV's or at least match NJ's Rebate for those counties in the NYC, Long Island and the Lower Hudson Valley, where most of
the states tax revenue comes from.
Converting undocumented immigrants to legal residents will increase yearly local and
state tax revenue from $ 11.73 billion to $ 13.91 billion.
According to a recent study, in North Dakota, the petroleum industry supported more than 65,000 jobs in 2009 (up from 25,700 in 2005), and contributed more than $ 1 billion in direct and indirect local and
state tax revenues.