Texas and Florida have a “balanced budget” while California is “in debt $54 billion and New York is “in debt $6.1 billion.”
Sen. John Cornyn says 49 states have a balanced budget amendment in their state constitutions [...] An appendix in the report lists 45 states, including Texas, with a constitutional citation concerning a balanced budget requirement, and four states that have a statutory requirement. Vermont is the only state with neither. The information comes from the legislative fiscal staff in each state, said Ron Snell, director of state services at NCSL. [...] More substantively, the report notes that there's no consensus on which states have or do not have balanced-budget laws. That is, not every state has an explicit requirement that state expenditures not exceed projected revenue. The report names Wyoming, North Dakota and Alaska as states whose balanced-budget requirements are debated.