Company also outlines billions of dollars of incentives—including tax credits and cash grants—promised by states and localities.
The initiative drew over $20 million of support from soft drink companies and others. A similar proposal in Oregon failed.
A source of transportation funding in the state has been preserved.
STATE AND LOCAL ROUNDUP | More recycling sector disruption … Minneapolis alcohol vote; and a “sex for speedbumps” scandal in Florida.
Two House members are advocating for the New Markets Tax Credit program to be extended in any post-election tax legislation.
Washington and Oregon voters will decide on measures that would prohibit certain taxes on sugary drinks and grocery businesses.
STATE AND LOCAL ROUNDUP | Super Typhoon Yutu’s destruction … Missing vote-by-mail applications in Ga. … Wis.’s slipping DMV performance … and Philly City Council honors Gritty mascot.
But would Proposition 5 ease the state’s housing crisis?
Proponents of the initiative believe it could attract billions of dollars of new investment to struggling communities.
But experts caution pot tax revenue doesn’t necessarily solve state budget problems.
“The number of dollars that are flooding to the space right now, far outpace the pace that we can actually deploy that capital responsibly,” says an executive at one investment firm.
The new economic development program is of interest to state and local leaders.
Govs. John Hickenlooper and John Kasich appeared together at an event focused on “forgotten Americans.”
The NFL is throwing its weight behind a federal framework, while the gaming industry blamed “burdensome” taxes and laws for the allure of illegal sports books.
Similar rankings have attracted scrutiny in the past.
Low Federal Reserve interest rates are a concern as well when it comes to how the nation will respond to the next recession.
The National Conference of State Legislatures is asking leaders on Capitol Hill to refrain from legislating around the recent South Dakota v. Wayfair, Inc. Supreme Court decision.
Pennsylvania state Rep. Seth Grove is pushing for consensus budget forecasting.
Many states are looking at how they can tax more online sales. But for states that don't collect sales tax, the issue is different.
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