State of Texas

A number of states are taking aim at tax reductions, though some experts view the move as misguided policy.

Biennial budget bills filed by the Texas House and Senate include $15 billion in property tax cuts amid a projected $32.7 billion surplus.

The Texas attorney general's office determined a Citigroup commercial firearms policy does not comply with a 2021 state law prohibiting state and local government contracts with companies that discriminate against the firearms industry.

With the Permanent University Fund only benefitting the two biggest public universities in Texas, the state legislature will consider creating an endowment for other higher education institutions.

As a result of low projected available capacity, some school districts may not get the program's triple-A ratings for their bond sales.

State agencies expect to issue about $14.42 billion of debt during the fiscal year that began Sept. 1.

The Texas Attorney General's Office will announce by Jan. 13 whether Citigroup can continue to underwrite municipal bonds in the state under a 2021 law that prohibits contracts with companies that "discriminate" against the firearm industry.

Texas gave S&P until Oct. 13 to produce documents detailing its development and use of ESG factors in public finance ratings.

UBS was the only bank that underwrites municipal bonds on the list of 10 financial companies determined to be boycotting energy businesses under a Texas law aimed at protecting the state's oil and natural gas industry.

The controversial Chapter 313 program's property tax breaks will not be offered after Dec. 31, 2022.