Southwest

Three Texas state legislators are urging the Treasury Department and the Internal Revenue Service to adopt rules that would allow Texas' public charter schools access to the Permanent School Fund bond obligations.

The $3 billion bond-funded Cancer Prevention Research Institute of Texas faces a criminal investigation over an $11 million grant to a company backed by a major campaign contributor to Gov. Rick Perry and Lt. Gov. David Dewhurst, according to the Travis County District Attorney's public integrity unit.

Kansas Gov. Sam Brownback will ask the 2013 Legislature to extend a state sales tax increase to partly pay for income tax cuts.

A $3 billion bond-funded cancer research program that granted funds to a firm backed by donors to Texas Gov. Rick Perry is under investigation by the state attorney general's office, and the executive director of the program has resigned.

Colorado's Regional Transportation District will have about $896 million in unused debt authorization for its FasTracks transit program after this week's issue of $446.3 million, according to estimates.

After a ratings downgrade triggered by its commitment to the National Hockey League's Phoenix Coyotes, Glendale, Ariz., is restructuring its debt for professional sports facilities with $230 million of taxable and tax-exempt revenue bonds.

El Paso City Council last week narrowly defeated, by 5-3, a plan to include on the May 2013 municipal election ballot a proposal to stop the demolition of El Paso City Hall to make way for a bond-financed minor league baseball stadium.

Oklahoma revenues in November failed to match last year’s totals as energy production tax collections remained anemic, Treasurer Ken Miller said.

The latest revenue projections for fiscal 2014 indicate New Mexico will have $283 million of new money that can be appropriated or expended for tax cuts by the 2013 Legislature.

Arkansas’ November revenues of $427.6 million were $15 million more than in November 2011 and $4 million more than expected, the Department of Finance and Administration said.