State of Texas

A constitutional amendment approved by Texas voters Nov. 7 will reduce public school property taxes, leaving the state to make up for the revenue reduction.

Municipal bond underwriters for Texas deals now have until Dec. 16 to comply with changes to the agreements and to their standing letters of compliance with two state laws banning contracts with companies that "boycott" or "discriminate" against the fossil fuel or firearm industries.

An increase in tax collections helped fuel the flow of billions of excess dollars into the state's previous budget, although growth in key sales tax revenue has slowed.

Revenue for the state's fiscal 2024-25 biennium that began Sept. 1 is projected to exceed the enacted budget by nearly $18.3 billion.

A constitutional amendment on the Nov. 7 ballot would deposit $1 billion in a Texas Water Fund with at least 25% earmarked to increase the drought-prone state's water supply.

After months of feuding on how to deliver a massive property tax cut, lawmakers finally passed legislation for an $18 billion package.

Legislative leaders said they agreed to an $18 billion package that includes a reduction in school property taxes and a higher homestead exemption.

State lawmakers passed bills aimed at the city's home-rule powers and a union contract impasse, as well as funding for a convention center expansion.

Easing drought conditions are not stopping states from restricting water use and investing in future supplies.

Lawmakers will be called back into session after Gov. Greg Abbott vetoed a bill for having too many loopholes.