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Lottery renewal needed before state can borrow
The odds of winning the Arizona Lottery's big jackpot are about one in 175 million. The odds that lawmakers will sell off future lottery revenues for a quick cash infusion are exponentially better. As lawmakers ponder how to fix a fiscal 2011 budget deficit that is expected to top $2 billion, many are viewing lottery securitization as a last resort whose time has come.
States forgive penalties, reap late taxes
State legislators looking for extra money to balance their budgets are historically quick to forgive penalties for tax delinquents, provided they pay their back taxes during amnesty periods. Twelve states are offering programs this year, including two - Hawaii and Oregon - that are holding amnesties for the first time.
