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Too Big to Fail and Too Big to Pay: States, Their Public-Pension Bills, and the Constitution

By Debra Brubaker Burns* *Juris Doctor Candidate 2012, University of California, Hastings College of the Law; Doctor of Philosophy, University of Minnesota. Excerpt from Too Big to Fail and Too Big to Pay: States, Their Public-Pension Bills, and the Constitution , 39 Hastings Const. L.Q. 253 (Fall...

When a Promise Isn't a Promise: Public Employers' Ability to Alter Pension Plans of Retired Employees

By Gavin Reinke* * Candidate for Doctor of Jurisprudence, May 2012, Vanderbilt University Law School. Excerpt from When a Promise Isn't a Promise: Public Employers' Ability to Alter Pension Plans of Retired Employees, 64 Vand. L. Rev. 1673 (October 2011) I. Introduction The economic downturn...

The Public Employee Pension Transparency Act (2011 H.R. 567)

The economic downturn has impacted state and local government revenues, and the costs associated with maintaining defined benefit pension plans and unfunded liabilities are on the rise. Legislation has been drafted to address perceived problems with state and local public pensions to require them to...

State Net Capitol Journal – December 9, 2013; Supreme Court Refuses To Hear New York 'Amazon Tax' Case

Budget & Taxes SUPREME COURT REFUSES TO HEAR NY 'AMAZON TAX' CASE: On the same day that consumers were making Cyber Monday the busiest online shopping day in history (see Bird's eye view), the U.S. Supreme Court denied petitions from Amazon and Overstock to review a case from New York's...

State Net Capitol Journal Spotlight – Triumphs and Tribulations: The 2013 Stories of the States

As the Great Recession finally vanished in the rear-view mirror, states realized a return to fiscal stability in 2013. But many states also found 2013 to be a year of living dangerously as they struggled with increased pension debts of their own making and unresolved issues dumped in their laps by the...

State Net Capitol Journal – June 9, 2014; Florida Hurricane Bonds On Rise

Budget & Taxes FL HURRICANE BONDS ON RISE: Six years ago, Florida's government-run property insurer, Citizens Property Insurance Corp., paid Warren Buffett's Omaha, Nebraska-based Berkshire Hathaway Inc. $224 million in exchange for a guarantee that the company would buy bonds issued by...