Southwest

Oklahoma House Speaker Kris Steele, R-Shawnee, last week formed the House Tax Credit and Economic Incentive Oversight Committee to investigate the effectiveness of the state's economic tax credits and incentives.

An opinion poll conducted in mid-July found 49.5% of likely Arkansas voters oppose a plan to raise the sales tax to finance construction of a network of four-lane state highways.

State Sen. Jason Rapert, R-Bigelow, last week asked the Arkansas State Police to investigate a failed petition drive that sought an increase in the state's production tax on natural gas.

Valley Metro will build an 11-mile extension of its light rail network from downtown Phoenix after last week's approval of the project by the Maricopa Association of Governments.

The IRS has closed an audit without changing the tax-exempt status of $43.45 million of Series 2006 general obligation refunding bonds that were issued by the St. Vrain Valley, Colo., School District in April 2006.

Kansas will save $5.4 million by using part of its $466 million surplus from fiscal 2012 to make early payments on $24.7 million of state debt, Gov. Sam Brownback said Wednesday.

The Corpus Christi City Council is considering a recommendation for a $55 million general obligation bond referendum in November that would focus on upgrades and maintenance of city streets.

June's sales tax revenues totaled $1.98 billion, up 15.2% from June 2011, Texas Comptroller Susan Combs said last week.

State officials will use $25 million of bonds authorized by Texas voters in 2007 to repair the Battleship Texas rather than dry-berth the World War I-vintage ship.

Oklahoma's bond rating would be better if the state issued more bonds for vital infrastructure projects, the Daily Oklahoman said Friday in a lead editorial.