New Mexico

The Texas city's project joins other efforts in Southwest states to find new water sources as supplies dwindle due to persistent drought conditions.

As double-digit revenue growth comes to an end, Southwest governors are crafting budgets to deal with the new normal.

The state would raise $500 million through internal debt sales backed by oil and natural gas severance tax revenue to fund long-term water purchase contracts.

The amount of unspent funding for state and local capital projects is at a historically high $5 billion as projects struggle with rising construction costs.

Public schools account for most of the $28.48 billion of bonds on Texas ballots Nov. 7.

States nationwide saw slower general fund revenue growth in fiscal 2023 after gains the previous two fiscal years fueled by high inflation and federal stimulus.

The state is capping transfers of fossil fuel-related revenue to its general fund and will invest money that exceeds the cap through a Severance Tax Permanent Fund.

Energy-producing states are riding out oil and natural gas price swings that affect severance tax collections.

The growth in March tax collections reported by the states was less robust than a year earlier.

The House and Senate differ in their approaches to lowering property taxes by billions of dollars as the state anticipates a record budget surplus.