The Disaster Emergency Funding Board, authorized in 1973, will consider Gov. Gina Raimondo's request for up to $300 million short term borrowing.
Despite rising 3% in 2019, DiNapoli expects bonuses to drop this year.
Eric Holcomb said the state will consider using bond authority to move forward with capital projects that were to have been funded on a pay-go basis.
The majority of the economic disruption will occur in fiscal 2020, but the revenue impacts will extend into the first half of fiscal 2021, says Moody's Analytics Dan White.
When lawmakers cast the final vote on the 2021 budget, they won’t have updated revenue projections but other states and industries do.
State Comptroller Thomas DiNapoli released updated state revenue projections.
Lawmakers return to the state capital to formally approve the budget Thursday amid concerns over the novel coronavirus outbreak.
Other Midwest legislatures are canceling sessions or weighing early spring breaks to slow the spread of COVID-19.
With a state budget deadline on the horizon, NY Gov. Andrew Cuomo is requesting revised revenue estimates that factor in the economic realities of fast-spreading virus.
The stock market plunge amid the COVID-19 pandemic increases the risk of a revenue shock for California and other states that depend on capital gains taxes.