State of Texas

A group of bondholders are floating fresh financing to a bankrupt metals recycler that elevates their bonds above other holders.

Differences between the Senate and House versions of the bill, which targeted cities and counties, could not be resolved.

Big changes made by the House to a high-priority bill targeting cities and counties were rejected by the Senate, sending the measure to a conference committee.

The measure would lower the percentage increase in property tax revenue larger cities and counties can tap for operations without seeking voter approval.

Legislation that would put a tighter limit on property tax increases for larger cities and counties advanced out of a Senate committee on Friday.

Kelly Hancock resigned his state senate seat and assumed a position that will make him acting comptroller after current Comptroller Glenn Hegar leaves office.

The city, which faces a budget shortfall, would receive the lesser of 30% or $80 million of Harris County Toll Road Authority surplus toll revenue.

Issuers in Texas are wary of potential changes at the federal and state level that could impact their finances and ability to sell debt.

Moody's is the latest rating agency to warn about a budget squeeze for Texas schools, which have been prolific issuers of voter-approved bonds in recent years.

Texas officials are eying ways to protect a massive state-funded school property tax cut from being eroded by local bond issues and tax increases.