To Limit Debt or Make It Limitless? 2 States’ Voters Will Decide.

Subscribe to Governing | View Newsletter in Browser;132383843;l to Governing Magazine & Newsletters on Facebook / Twitter / LinkedIn FEATURED STORY To Limit Debt or Make It Limitless? 2 States’ Voters Will Decide. By Liz Farmer In the post-recession era, “debt" is a four-letter word. State debt levels as a whole have been stagnant in recent years and, in 2014, actually recorded the first decline in the 28 years Moody’s Investors Service has been tracking them. It’s in this climate that voters in two states are considering nearly opposite proposals on debt. California, which has one of the highest taxpayer debt burdens in the country, will decide whether to limit lawmakers’ ability to issue debt for major projects. Prop. 53 would require voter approval to issue more than $2 billion in revenue bonds. ADVERTISEMENT;132383842;m In Arkansas, a ballot initiative proposes making it easier for the state to incur more debt. Issue 3 would eliminate the state’s current 5 percent cap on debt related to economic development projects. Each state’s history with bond debt has a lot to do with these conflicting proposals. Keep reading >> ADVERTISEMENT In the Municipal Market, Green is the New Black Fidelity explores the use and considerations related to Green Bonds in the municipal market, how and why they’re issued, and some of the benefits and risks to consider before investing. Get our whitepaper. MORE FINANCE NEWS & COMMENTARY City Revenues Expected to Finally Recover From Recession But cities are still dealing with slow revenue growth and rising costs, according to a new report. In Need of Education Funding, States Look to Customers and Corporations Tax-raising ballot measures this fall showcase the political power of corporations. Plus: More coverage of 2016 state ballot measures on finance . Washington State Could Pass the Nation’s First Carbon Tax The ballot measure has divided the green community and created some unlikely alliances. California Launches Criminal Investigation Into Wells Fargo The state is investigating allegations of criminal identity theft over its creation of millions of unauthorized accounts. Plus: Wells Fargo’s Latest Loss — Ohio Princeton Settles Nonprofit Tax Lawsuit After fighting a property tax lawsuit for five years, the university has agreed to an $18 million settlement with neighbors who claimed its tax-exempt status unfairly made their property taxes higher. Gas Tax Going Up in New Jersey for First Time in 28 Years Gov. Chris Christie signed the largest gas tax increase in state history. Privatization May Be Worsening Inequality A new study suggests outsourcing government services can disproportionately impact low-income users’ finances, health and safety. Finance writer Liz Farmer’s roundup of money (and other) news governments can use. Sign up to have it delivered every Friday to your inbox. ENJOY THIS NEWSLETTER? Governing has 10 others delivering news and commentary on a wide range of topics straight to your inbox. SUBSCRIBE FOR FREE TODAY Unsubscribe″ > | Opt out of all e.Republic email | Privacy Statement © 2016 e.Republic. All rights reserved. 100 Blue Ravine Road, Folsom, CA 95630. Phone: 916-932-1300