Overview
Over the course of the past several months, governors in 33 states have released their fiscal 2023 budget proposals. Last year, 17 states enacted budgets covering both fiscal 2022 and fiscal 2023; in eight of those states, governors released a supplemental or revised budget recommendation for fiscal 2023. The remaining nine states did not release a new or revised budget proposal for fiscal 2023. 46 states begin their fiscal year on July 1 (New York begins its fiscal year on April 1, Texas on September 1, and Alabama and Michigan on October 1).
As of July 1, three states have yet to finalize their budget for fiscal 2023:
- Massachusetts – The legislature has yet to finalize the budget; the governor filed an interim budget funding the state through July 31.
- Michigan – The legislature approved the budget and the governor is currently reviewing the budget bills. The state’s fiscal year does not begin until October 1.
- Pennsylvania – The legislature has yet to finalize the budget; most functions of state government continue to operate.