Southwest

After facing outside economic data pressures and rising U.S. Treasuries, municipals ended the week on solid footing ahead of a larger calendar with newly upgraded Connecticut leading with $1 billion of exempt and taxable GOs.

Not only do government entities have new federal funds destined to reach them soon, but citizens also are supporting bond elections in record numbers.

In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.

Lawmakers, buoyed by rising revenue estimates, overrode Gov. Laura Kelly's veto of tax cut legislation.

Arizona and neighboring states are preparing for the first mandatory cuts in water from the Colorado River after 20 years of drought.

“Our net present value savings were $191.5 million or a record-setting 29%," said North Texas Tollway Authority Chief Financial Officer Horatio Porter.

The numbers are driven by record oil and gas production tax collections and increases in sales and income tax payments, State Treasurer Randy McDaniel said.

The measure expands opportunity for lower-income students and broadens geographical reach of college, backers say.

With help from a flood of federal funding, Colorado lawmakers were able to restore funds lost in the pandemic.

A year after the pandemic struck the nation's economy, Texas sales tax collections hit an all-time record for April.