Most states adopt timely fiscal 2019 budgets amid strong revenue growth

Source: Matthew Butler, Nicholas Samuels, Emily Raimes, Timothy Blake, Moody’s, Sector In-Depth, July 16, 2018
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Growth in state tax revenue was robust in fiscal 2018 and positioned many states to carry an operating surplus into fiscal 2019, which for all but four states began on July 1. Likely aided by the strong revenue performance, all but two states began fiscal 2019 with an adopted budget in place, which is a departure from the past few years when several states entered the new fiscal year without an enacted budget.