Texas Comptroller Places Fiscal Onus on Legislature

Albanese, Elizabeth
May 2003
Bond Buyer;5/20/2003, Vol. 344 Issue 31639, p36
Trade Publication
Texas Comptroller Carole Keeton Strayhorn reiterated her belief that legislators should utilize more than 4 billion dollar in savings and additional cash sources she has suggested to help the state cover a predicted 9.9 billion dollar revenue shortfall for 2004. Under Texas law, Strayhorn must certify any budget bill approved by the Legislature before it can be implemented. State governor Rick Perry has signed the bill that will affect the state's bond market, including a request to the U.S. Congress that it amend the 1986 tax laws to remove bonds for water and wastewater projects paid for with public private financing from the volume restrictions for private-activity bonds.


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