Southwest

Despite its nearly drained capacity, the Texas Permanent School Fund program continues to operate as it seeks legislative and regulatory solutions to a federal cap.

Energy production taxes slowed or fell last month, with the oil tax generating $486 million, which was 14% higher than in January 2022, and natural gas tax revenue falling 13% at $322 million.

Christian Care Centers' bankruptcy liquidation plan leaves bondholders impaired after an asset sale raised only $44.25 million.

The popularity of Arizona's universal school choice program, which pays for private schools, brought higher-than-projected costs and future budget impact.

A number of states are taking aim at tax reductions, though some experts view the move as misguided policy.

Biennial budget bills filed by the Texas House and Senate include $15 billion in property tax cuts amid a projected $32.7 billion surplus.

School districts must sell bonds based on their own ratings or with private insurance because the triple-A-rated Permanent School Fund's capacity is nearly maxed out.

Legacy Cares, which built Bell Bank Park in Mesa, was due to make a $10.3 million interest payment Jan. 1, but only had $2.68 million in the bond fund, the trustee said.

The Texas attorney general's office determined a Citigroup commercial firearms policy does not comply with a 2021 state law prohibiting state and local government contracts with companies that discriminate against the firearms industry.

With the Permanent University Fund only benefitting the two biggest public universities in Texas, the state legislature will consider creating an endowment for other higher education institutions.