State of Texas

The state faces slower job growth after gains in the previous three years outpaced the nation, according to the Dallas Federal Reserve's Texas economic outlook.

Barclays joins UBS and Citigroup in being prohibited from underwriting state and local government bonds under Texas laws aimed at protecting the fossil fuel and firearms industries.

Half of the top 10 issuers were new entrants: the California Community Choice Finance Authority, Main Street Natural Gas, the state of Washington, the Texas Natural Gas Securitization Finance Corp. and Illinois.

Municipal bond issuance in the Lone Star State totaled $59 billion in 2023, spurred by utility rate securitizations and school bonds.

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.

Community colleges will be rewarded based on results that align with regional and state education and workforce needs.

Austin planned to use property taxes approved by voters in 2020 to pay off bonds for the project.

UBS will compensate a Texas school district, which was forced to resell bonds after the state attorney general rejected the investment bank's contract to purchase the debt.

A proposed IRS regulation boosts the amount of bonds that can be guaranteed by nearly 86% to about $218 billion.

Participants in the Texas municipal market raised concerns over bills that would constrain debt issuance.

After falling to just $26.6 million in December, state officials lowered the program's reserves effective March 1 to boost capacity.