New Mexico

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.

Each would preserve their individual brands with a new organization functioning as the parent company with the aim of cutting administrative costs.

The legislation would allow the New Mexico Finance Authority to issue revenue bonds for transportation and broadband projects.

Oil and natural gas-related taxes and payments are driving projected increases in the state's general fund and stirring concerns about a future revenue drop.