Texas

DALLAS — The Texas Department of Transportation would get another $3 billion of bond authorization under a proposal from the chairman of the state Senate Transportation and Homeland Security Committee, but he said finding a long-term solution to the chronic problem of highway funding is not likely in the current session.

DALLAS — The Odessa Junior College District will exhaust the debt capacity approved by voters in November 2010 with Wednesday’s negotiated sale of $68.5 million of limited-tax bonds.

DALLAS — As its tax base shrinks amid the ongoing housing slump, Dallas County will seek savings on its long-term debt and finance improvements to its jail and court facilities with a package of bonds and notes worth a combined $76.5 million this week.

DALLAS — A Texas Senate subcommittee charged with finding billions of dollars in new, non-tax revenue has apparently located $5.5 billion that could be used to soften budget cuts that currently total $23 billion.

DALLAS — Texas cannot resolve its $23 billion revenue shortfall without a revision to an underperforming business tax, Senate Finance Committee chairman Steve Ogden said Tuesday.

DALLAS — The Texas Senate’s chief budget writer said Monday there is little enthusiasm among his colleagues for the $164.5 billion, two-year budget the House passed late Sunday.

DALLAS — In the largest deal of the year from Texas, the North Texas Tollway Authority will issue more than $1 billion of debt this week, carrying its highest credit rating in three years.

DALLAS — The Texas House balanced the current biennial budget on Thursday with $3.1 billion from the $9.4 billion rainy-day fund and $853.6 million of spending cuts for state agencies and higher education.

DALLAS — Texas would need $315 billion in additional revenue to keep up with growing demand for roads and maintenance of existing infrastructure through 2030, but sources of revenue are drying up rapidly, according to the latest reports.

DALLAS — Proponents of expanded gambling in Texas told lawmakers Tuesday that casino gambling and slot machines at existing horse tracks could generate more than $1 billion a year in state taxes.

DALLAS — Voters in Texas face a light load of school bond requests at the polls on May 14 as districts across the state focus on belt-tightening instead of capital projects.

DALLAS — In an unusually lean market for tax-exempt debt, the San Antonio Independent School District will provide about $100 million of refunding bonds in a deal that ranks as one of the largest from Texas this year.

Travis County may establish a tax increment financing district to build roads and other public infrastructure serving the 3.4-mile Formula One Grand Prix racetrack being built outside Austin.

DALLAS — The North Central Texas Council of Governments is considering funding for a proposed $1.4 billion commuter rail line from southwest Fort Worth to the north Dallas suburb of Plano.

DALLAS — The $164.5 billion state budget adopted last week by a Texas House committee could cost the state more than 335,000 jobs over the next two years, according to an economic impact report from the Legislative Budget Board.

DALLAS — The Texas House Appropriations Committee on Wednesday adopted a $164.5 billion, two-year operating budget that reduces spending by $22.9 billion from the current biennium.

DALLAS — Plans to add two reactors to the South Texas Project nuclear power plant near Houston became more doubtful this week as San Antonio’s public utility halted all discussions about buying power and the developer announced the project was on hold.

DALLAS — Amid a $500 million remodeling project, Dallas Love Field Airport won a two notch upgrade from Standard & Poor’s Wednesday, rising to A with a stable outlook from BBB-plus.

DALLAS — In what will likely be the largest deal in Texas so far this year, the North Texas Tollway Authority is preparing to issue $1.3 billion for the western extension of its President George Bush Turnpike.

DALLAS — Members of a new Texas Senate special subcommittee were tasked Monday with finding $5 billion of savings and non-tax revenues over the next two weeks.