Southwest

DALLAS — As the hub of the largest cotton-growing region in the world, Lubbock, Texas, depends on groundwater from the Ogallala Aquifer, a vast underground reservoir covering parts of eight states in the Great Plains.

Texas will distribute $433.1 million of sales tax collections to local governments this month, an increase of 7.1% from March 2010. Local sales tax allocation for the first three months of the calendar year are up 7.9% from 2010.

Trustees of the North East Independent School District decided last week to postpone an election set for May 14 for a proposed $399.4 million general obligation bond package due to uncertainties over state aid to public education over the next two years.

Kansas Gov. Sam Brownback ordered $56.5 million of spending cuts on Friday to balance the current budget after lawmakers failed to meet his deadline for resolving the revenue shortfall in fiscal 2011.

Sales tax revenues in Tempe have climbed 13.2% since the beginning of fiscal 2011, with retail sales tax collections up 14.4%.

The Internal Revenue Service and a Little Rock issuer are fighting over whether the IRS can declare bonds taxable after previously signing a closing agreement to settle a tax dispute over them.

DALLAS — Despite Republican leaders’ efforts to downplay the record budget shortfall facing Texas, the state’s funding gap is one of the worst in the nation, according to the Center on Budget and Policy Priorities.

DALLAS — Colorado’s Regional Transportation District is putting off a decision on whether to ask voters for a sales tax increase to complete the $6.7 billion FasTracks rail plan by 2017.

DALLAS — The Houston suburb of Sugar Land will build a 7,500-seat minor league baseball stadium with proceeds from next week’s $30.1 million competitive issue of sales-tax revenue bonds.

DALLAS — Texas Gov. Rick Perry met Monday with Republican lawmakers and urged them to avoid tapping the state’s $9 billion budget stabilization fund to help close a $27 billion revenue gap over the next two fiscal years.