MuniLand

The Tax Foundation is reporting that the House of Representatives may take up H.R. 1864, the Mobile Workforce State Income Tax Simplification Act of 2011. The CBO describes the legislation as prohibiting states from taxing the income of employees who work in the state for fewer than 31 days. The prohibition would not apply to the income of professional athletes, entertainers or public figures.

Good Links

Senate Banking Committee: Internal staff memo on yesterday’s hearing on derivatives regulation

Reuters: U.S. cities wrestle with universities for cash

NCSL: State unemployment rates drop in April 2012

NABL: “Simply and plainly tell the whole credit story related to [newly issued] bonds”

Sacramento Bee: Every year, a California budget plan passes that collapses by the following May

The Economist: California’s overcrowded prisons

Reuters: 188 school districts in California are in “financial jeopardy”

Patriot News: Harrisburg’s late financial audits put city, Authority in bad positions

@Twitter Talk

Rasmussen Reports: 51% Expect U.S. Government To Go Bankrupt Before Budget Is Balanced

— Justin Hart (@justin_hart) May 21, 2012

The South’s decades-long cost advantage over the Midwest has nearly disappeared. on.wsj.com/KU0e4I (via @conordougherty) — Ben Casselman (@bencasselman) May 21, 2012

state constitutional pledge is so often quoted as credit strength of muni state GO sector, but that’s only 13% of #muniland mkt

— Bob Nelson (@BNels22) May 23, 2012

The wealthiest 1% of NYC residents took in nearly 1/3 of city’s personal income in 2009 nyti.ms/L9KMhD — Lauren Young (@LaurenYoung) May 21, 2012

Cubs Chrmn Ricketts reaching out to black leaders in CHI to control damage done by father’s proposed Wright ad bit.ly/L6W2yK

— Mosheh Oinounou (@Mosheh) May 23, 2012

Playoffs Lure Coyotes Buyer as Losses Force City to Fire Workers: buswk.co/J8rMzt — Tax Foundation (@taxfoundation) May 21, 2012