State of Texas

The state House and Senate announced their spending plans for the upcoming biennium, including funding to continue and increase 2023's state-funded tax cut.

The state comptroller forecasts a $23.8 billion budget balance at the start of fiscal 2026-27, down from a record $39.4 billion for fiscal 2024-25.

The Texas Attorney General will end reviews of Bank of America, Morgan Stanley and JP Morgan after the banks recently left the Net-Zero Banking Alliance.

The bank, which has been under review by the Texas attorney general over its involvement in the Net-Zero Banking Alliance, said it is leaving the group.

BofA and Morgan Stanley left the Net-Zero Banking Alliance, but there was no word from the Texas attorney general on their status as bond underwriters in the state.

Six Texas cities sued the state comptroller over a rule that altered where sales taxes would be collected on certain online purchases.

The bank's termination of its membership in the Net-Zero Banking Alliance ended a state review that could have led to a ban for governmental contracts.

A lawsuit filed by a business group in federal court in August claims a 2021 Texas law violates free speech protections.

General fund revenue growth of only 1.1% in the fiscal year that ended Saturday, marks a continued slowdown since fiscal 2022's 26.4% increase.

The lawsuit contends a state law that punishes banks and others for "boycotting" the fossil fuel industry violates free speech provisions in the U.S. Constitution.