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Financial Institutions agency seeks self-funding (access required)

The demands placed on the Arizona Department of Financial Institutions grew rapidly with the state's booming housing market, and haven't abated much with the subsequent bust. What's more, the state's crippling budget crisis has stripped the department of some of its resources at a time when it needs them most.

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Midyear property tax repeal a potential ‘nightmare’ for counties (access required)

Legislative Republicans may have to reconcile themselves to at least one year of the state equalization property tax. It would be theoretically possible to repeal the tax retroactively during the next legislative session, so that property owners would be reimbursed for the taxes already paid under the equalization rate. But any lawmaker hoping to do so can expect fierce opposition from county treasurers.

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Brewer vetoes part of budget, blames ‘extremists’ from both parties (access required)

Blaming “extremists” from both parties for holding up the budget process and threatening the state with bankruptcy, Gov. Jan Brewer on Sept. 4 signed large swaths of the budget that she said will help the state “weather the storm” until the next legislative session. But she vetoed parts of the main spending bill, including $300 million in cuts to K-12 schools and DES. She also vetoed the bill that included the equalization property tax.

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Brewer might face a tough primary

During her 27 years in public office, Gov. Jan Brewer has never lost an election. But if she runs for a full term in 2010, some are predicting that streak could come to an inglorious end in the Republican primary.

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State cash reserves should last through September (access required)

The state's cash reserves are dwindling fast, but Arizona should be able to keep paying its bills through the end of September. If no budget is in place by the start of October, however, the state will likely have to borrow from the private sector for the first time in memory, if not the state's history.

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