WASHINGTON — Local school districts face renewed budget pressure as states cut back spending, forcing local governments to weigh tax increases and layoffs, the Center on Budget Policy Priorities said in a recent report.

Meanwhile, some municipal bond investors are delving deeper into a school district’s credit supports, scrutinizing students’ test scores, free-lunch programs, and the legal requirements needed to raise taxes — all in an effort to judge an issuer’s ability to pay bondholders, sources said.

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