Jim Watts

The Oklahoma City suburb of Norman has created a rainy-day fund that sets a target of 4.5% of general fund expenditures.

State revenue totaled $5.54 billion in fiscal 2011, according to preliminary data from the Kansas Department of Revenue. The total is $685 million more than in fiscal 2010, and $88 million more than April’s official forecast.

Little Rock lawyer Sheffield Nelson has filed a revision with the secretary of state’s office to his proposal that would amend the Arkansas constitution and increase the state severance tax on natural gas to help fund maintenance of city, county and state roads.

Proponents of a plan to limit increases in Arizona state and local property tax levies have filed paperwork with the secretary of state’s office for a third try at a statewide vote. Similar initiative attempts failed in 2008 and 2010.

DALLAS - Texas lawmakers on Tuesday approved the financial bill necessary to balance the state's two-year, $172.3 billion budget, but not before almost forcing a second special session.

Louisiana will set up a 10-member task force and a five-member advisory council to study a proposal to remove the tolls from two bridges over the Mississippi River in downtown New Orleans.

DALLAS — The Oklahoma Supreme Court declined Monday to hear arguments in a lawsuit contending that the use of $101.7 million of highway tax revenues to balance the state’s fiscal 2012 budget was unconstitutional.

The New Mexico Supreme Court ruled last week that Gov. Susana Martinez went beyond her constitutional powers by using her line-item veto authority to reduce appropriations for a housing program to $50,000 from the legislatively approved $150,000.

Wichita's Mid-Continent Airport will see $200 million of new facilities under a facilities proposal approved last week after a nine-month hiatus.

An end to truckers' support for an ­increase in Arkansas' diesel tax to support $1.1 billion of road bonds could mean a tax increase for trucking companies.

Several tax rates in Arkansas will drop Friday due to new laws that go into effect on July 1, the beginning of fiscal 2012. The tax bills were included in the 602 measures passed by the General Assembly in 2011.

DALLAS - The Arkansas Supreme Court on Thursday upheld a voter-approved constitutional amendment that eliminated the interest cap on state and local bonds.

DALLAS - Louisiana lawmakers gave final approval late Tuesday to a $25 billion budget for fiscal 2012 that relies on more than $200 million of fund transfers and reallocations to balance next year's spending plan.

A $561 million general obligation bond program to fund long-term maintenance efforts presented last week to the Lafayette Parish School Board would require a 20-year, 2-mill increase in the property tax. The trustees have until Wednesday to set a tax election for Oct. 22. They could delay the election until Nov. 19.

New Orleans Mayor Mitch Landrieu said Monday the state should stick with the current plan to build a $1.2 billion, 424-bed hospital in the city. Construction financing for the University Medical Center includes $407 million of hospital revenue bonds.

DALLAS — The Arkansas Trucking Association has withdrawn its support for a proposed increase of the state diesel tax to support $1.1 billion of bonds for interstate highway projects.

DALLAS - Texas Gov. Rick Perry signed a two-year, $172.3 billion state budget Friday, but lawmakers continue work on two bills to finance the spending plan.

Port of Houston Authority officials said last week construction of a cruise ship terminal in Pasadena cost $108.4 million rather than the previously announced $71 million.

A $596 million general obligation bond issue outlined to the San Antonio City Council last week would fund infrastructure projects across the city as well as large, high-impact civic efforts.

Strong revenues over the last few months will help put more than the expected $71 million into Oklahoma’s rainy-day fund, which now contains a total of $2.03.