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Fraudulent flipping: State agency gets extended power to battle mortgage scams
The housing bubble in Arizona became a cash cow for the unscrupulous. Up until the bubble burst in late 2008, crooked investors and people involved in writing up loan documents bilked banks and homeowners out of millions.
Are struggling community banks prepared for a new threat?
Most community banks in Arizona are losing money, lending is down, and a veteran banker concedes that every day is a challenge. It was a little too challenging for two Arizona banks, which were closed by state and federal regulators Aug. 14. A third bank is operating under federal orders to improve what were found to be “unsafe and unsound banking practices.”
Misunderstanding blamed for delay of K-12 stimulus money
A misunderstanding regarding federal requirements delayed the implementation of a quarter-billion dollars in federal stimulus money for education. Gov. Jan Brewer submitted a request on June 25 for $250 million that did not meet federal guidelines for the money, according to the United States Department of Education.
SRP applies for stimulus funds for smart projects
TEMPE - Salt River Project has applied for more than $80 million in stimulus funds from the U.S. Department of Energy for smart metering and smart electrical grid projects.
State spending tracks higher than last year
So far, Arizona has spent more money this fiscal year than it did during the same period last year. Between July 1 and Aug. 17, the state spent $164 million more than it did during the same period in 2008, according to figures provided by the state Treasure’s Office.
State cites Yuma recycler for e-waste violations
YUMA - The state has cited a Yuma recycler for violating rules for properly handling and disposing old computers. The e-waste includes the remnants of old computer screens and other electronics and likely contain lead, mercury, dioxin and other toxic compounds.
Brenda Burns announces for Corp. Commission
Former lawmaker Brenda Burns has issued a press release announcing she had collected more than 4,000 petition signatures in her candidacy for the vacant seat on the Corporation Commission. Commissioner... […]
Sans action today, equalization property tax set to return
Arizona's residents face a higher tax bill this year as time is all but out to repeal a property tax that has been suspended for the last three years. Without legislative action and the governor's signature, the state equalization property tax is set to come back this year.
Policy requires proven Grand Canyon mine claims
FLAGSTAFF - Interior Secretary Ken Salazar's decision to halt new mining claims on 1 million acres of land around the Grand Canyon comes with a fundamental change in how the U.S. Forest Service does business with mining companies.
Money to pay for Petrified Forest expansion sought
HOLBROOK - When Congress passed a law in 2004 doubling the size of the Petrified Forest National Park in eastern Arizona, lawmakers didn't provide the money to buy private land within the expanded boundaries to make the parcel whole.
House Dems name members of tuition tax credit task force
House Democrats today named eight members, including three Republicans, to serve on their newly formed Task Force on Private School Tuition Tax Credits program. Billed as a bipartisan panel, Democrats announced that the task force will be chaired by Rep. David Schapira, a Democrat from Tempe, with Tom Chabin, a Democrat from Flagstaff, named vice chair.
No statewide sales tax vote on Nov. 3
There may still be a vote on temporarily raising the state's sales tax rate, but it won't be on Nov. 3. According to Assistant Secretary of State Jim Drake, the next feasible date on which a special election could be held is Dec. 8. Municipal and school board elections will be held Nov. 3, and the voting machines will not be available for at least two weeks afterward because they will be seques[...]
