Featured Publications
Municipal Bonds: Trends in 2011 |
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In December 2010, there was a great deal of speculation that dozens of cities and local governments would default on their municipal bond debt obligations amounting to hundreds of billions of dollars within a year. According to this line of thinking, this cataclysmic outcome would require states to bail out these municipalities, an outcome that, given the tenuous fiscal position of states, in turn would require the federal government to bail out the states. This SLC Regional Resource examines how the municipal bond market fared in 2011, if fears expressed by certain experts regarding widespread bond defaults were realized, if investors shed their holdings in municipal bonds and fled to other asset categories and a number of related topics. |
Economic Expansion, Energy Independence and Environmental Efficiency: Renewables in the South |
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This SLC Special Series Report explores efforts initiated by Southern states in recent years to develop the renewable energy sector in the region and an assessment of the economic development, energy and environmental benefits expected to flow from these efforts. The report comprises three parts:
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Food Safety: Building an Integrated System |
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The U.S. food safety system has developed over a lengthy period, often in response to health concerns or threats. Because of this, the system does not have a coherent, strategic focus, but is a patchwork of legal and regulatory activities that distributes the responsibility for, and information about, food safety across numerous federal, state and local entities. Establishing a prevention-oriented national food safety system will require investments at all levels, innovative use of existing technology, commitments among partners to share resources and responsibilities across both jurisdictional borders and institutional barriers, and initiatives to boost capacity across the system. Food safety requires an integration of public health, agriculture, the food processing industry, and the research community to achieve a truly seamless system where risks are assessed accurately, mitigated appropriately, monitored thoroughly and outbreaks are responded to effectively. This SLC Regional Resource examines current practices in regards to food safety, as well as best practices to ensure that foodborne illnesses are reduced to a minimal level. |
Amazon and the states: Untapped revenue Streams |
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On April 27, 2011, the South Carolina House of Representatives, by a vote of 71-47, defeated an amendment that would have provided a five-year sales tax exemption to Amazon.com in exchange for the company building a distribution center in Lexington County, in the central part of the state. While this vote resulted in Amazon canceling to the forefront a burning issue confronting state policymakers: how should states react to the exponential growth in e-commerce transactions that largely occur without the collection of invaluable sales taxes? As states struggle to deal with the sharp drop-off in revenues caused by the Great Recession, the panoply of issues related to collecting sales taxes on e-commerce transactions continues to roil state policymakers across the country. Beyond the immediacy of grappling with current revenue shortfalls, states also face the continuing challenge of an eroding tax base related to the exponential growth in e-commerce transactions. This is because a 1992 U.S. Supreme Court ruling held that online retailers only are required to collect sales tax on a transaction if they have a physical presence in a the state of the purchasing customer. As a result, states are largely unable to apply sales tax to a burgeoning sector of the economy, i.e., e-commerce transactions, a sector that has experienced stratospheric growth in the last decade. In fact, the University of Tennessee’s Center for Business and Economic Research (CBER) estimates that by 2012 states will lose between $11.4 billion and $12.65 billion from untaxed online sales. This SLC Fiscal Alert reviews the complexities involved in the taxation of these online sales by the SLC states and the fiscal implications of the decisions that must be made. |
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