State-by-State Fiscal 2015 Enacted Budget Summaries

Source: National Association of State Budget Officers, June 27, 2014

As of June 27th, all but six states have enacted budgets for fiscal 2015, which begins on July 1st for 46 states. In Massachusetts and Pennsylvania, the legislature has yet to finalize the budget. In Delaware, Illinois, and New Jersey the governor has not yet taken action on the budget approved by the legislature, and in Michigan the governor has only signed the education portion of the budget to date (Michigan’s fiscal year begins on October 1). In addition, in North Carolina the legislature continues to consider budget adjustments to the previously enacted fiscal 2014-2015 biennium budget. Overall, fiscal conditions for states continue to improve. According to data on governors’ budget proposals collected in NASBO’s Spring Fiscal Survey of States, general fund spending is recommended to increase 2.9 percent, the fifth consecutive year of spending growth following two straight years of decline. Governors proposed spending increases in most areas of the state budget, with K-12, Medicaid, and higher education seeing the largest increases. In addition, governors recommend $2.5 billion in tax and fee cuts, and total balance levels of 7.4 percent, above the historical average. In many ways, enacted budgets for fiscal 2015 closely mirror governors’ budget proposals. The majority of states have enacted budgets with general fund spending increases. States have approved additional support for education through changes to school finance formulas, increased aid for early education, tying higher education funding to performance measures, and new initiatives linking education to economic development. Additionally, in the area of health care several states have added funding for home and community based care, mental health services, and programs to increase healthcare coverage. Several states have also enacted budgets that increase spending on prisons, and some states have made greater investments in infrastructure. Finally, states have enacted tax and fee changes including property tax cuts and reductions in business taxes. …
Related:
Prior enacted budgets and interactive map