Southwest

A $2 billion bond plan to finance water projects in Texas has won passage from a key legislative committee.

The Texas Senate is expected to begin debating a $94.1 billion budget Monday after the Senate Finance Committee unanimously approved a 7.7% spending increase over two years.

Colorado Springs has approved refunding $110 million of combined utility system revenue bonds as the city studies the possibility of selling or leasing its electric power system to a private operator.

Oklahoma Gov. Mary Fallin's request to cut the top state income tax rate to 5% was approved Tuesday by the state House .

Fitch Ratings' recent downgrade of 23 charter schools, including the KIPP Academy in Houston, comes as the Texas Legislature to ease funding pressures for the schools.

As its legislature nears completion of a state budget, New Mexico plans to raise about $140 million through the competitive sale of general obligation bonds on March 19.

Sales tax collections in February beat the take in February 2012 but at a reduced rate, Comptroller Susan Combs said.

Amarillo ISD will spend $13,000 on a communications plan to explain the school district's $99.5 million bond referendum going to voters May 11.

Oklahoma revenues last month fell below collections in February 2012, marking the fifth time in the past 12 months that collections did not attain the previous year's totals.

A delay in federal income tax returns in early January reduced state income tax refunds in February, revenue officials said last week.