BOS 2013

THE BOOK OF THE STATES 2013

Table of Contents

Chapter 1 » State Constitutions

Chapter 2 » Federalism and Intergovernmental Relations

Chapter 3 » State Legislative Branch

Chapter 4 » State Executive Branch

Chapter 5 » State Judicial Branch

Chapter 6 » Elections

Chapter 7 » State Finance

Chapter 8 » State Management, Administration, and Demographics

Chapter 9 » Selected State Policies and Programs

Chapter 10 » State Pages

 

The movement of women into state-level offices has slowed in recent years after several decades of gains, and following the 2012 elections, the numbers of women in both state legislative and executive branch offices increased only slightly. Efforts to actively recruit women for elected and appointed positions will be critical in determining what the future holds for women in state government.
 
Standard & Poor’s Ratings Services has public ratings on all 50 states and certain U.S. territories based on an analysis of a range of factors as outlined in its U.S. State Ratings Methodology. In addition to the ratings provided on general obligation bonds or ratings linked to the general credit rating of a state, such as appropriation secured bonds, hundreds of other state tax and revenue-supported obligations are rated. Similar to the broader municipal bond market, the range of bond security types issued by states is very diverse and runs the gamut of sales tax, gas tax, hotel tax, income tax, lottery revenue, liquor profits, and insurance premium assessments. The diversity of issuance in the state sector reflects the broad service and infrastructure responsibilities each state is responsible for funding.
 
California enacted sweeping public pension reforms in 2012. Despite competing claims that extensive reform either wasn’t warranted or didn’t go far enough, California’s pension legislation will provide immediate savings and reduce unfunded liabilities over the long term.1
 
States experienced their second consecutive year of positive but slow growth in the 2012 fiscal year. Both revenue collections and spending from state funds increased, although at growth levels below the previous year. Additionally, the number of states making mid-year budget cuts continued to decline in 2012 and states have begun to replenish their rainy day funds and reserves. In the 2013 fiscal year, states are expected to continue their improvement, with both state revenues and state spending projected to grow. Revenue growth since the recession, however, remains weak by historical standards and general fund spending is expected to remain below peak levels. States are expected to face tight fiscal conditions for a number of years to come due to federal uncertainty, the slow pace of economic growth and increased spending demands.
 
The State Budget Crisis Task Force, established by Richard Ravitch and Paul Volcker, examined major threats to state fiscal sustainability, including federal deficit reduction, underfunded retirement promises, rapid Medicaid growth, and narrow and eroding tax bases. It recommended better federal-state communication, improved state budgeting and reporting practices, and broader state tax bases.
 

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