BB requirements are not all they are cracked up to be. Some states require that the gov propose a BB. Some also or instead require that a BB be enacted. Some also or instead require the budget to be balanced before the fiscal year is over.
Any proposed budgets are prospective -- you can't guarantee any particular level of spending or revenue. The requirement to balance before the FY is over is the most binding. Some states have two or all three of those requirements. Alone among states, Vermont has none. On Tue, Aug 10, 2010 at 8:46 PM, Jim Devine <[email protected]> wrote: > FWIW, California doesn't have to balance its budget. According to an > assistant state Treasurer I talked to, it's only required that the > Governor present a balanced budget. It doesn't have to pass. Of > course, as CA runs deficits year after year, it raises the interest > rates it has to pay... so it's a good idea to balance the budget. > > On Tue, Aug 10, 2010 at 3:53 PM, raghu <[email protected]> wrote: > > I am puzzled about this little excerpt from a Bloomberg article: is > > there anything special about the state of Vermont? > > > > "Unlike the federal government, every state except Vermont is required > > to balance its budget, forcing spending cuts, tax increases or both -- > > actions Federal Reserve Chairman Ben Bernanke said last week are > > contributing to the nation’s sluggish recovery." > > > > quote from: > > > http://www.bloomberg.com/news/2010-08-10/u-s-house-set-to-approve-26-billion-state-aid-as-lawmakers-break-recess.html > > _______________________________________________ > > pen-l mailing list > > [email protected] > > https://lists.csuchico.edu/mailman/listinfo/pen-l > > > > > > -- > Jim Devine > "All science would be superfluous if the form of appearance of things > directly coincided with their essence." -- KM > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l >
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