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The Latest Breaking News from Glenn Hegar

Texas lawmakers will have $194.6 billion to spend for the next budget, comptroller projects

The estimate includes $23.8 billion leftover from the current budget cycle.

The Texas Tribune

A 2006 study found undocumented immigrants contribute more than they cost Texas. The state hasn’t updated it since.

A comptroller’s report found that deporting the estimated 1.4 million undocumented immigrants living in Texas in 2005 would have cost the state about $17.7 billion in gross domestic product.

The Texas Tribune

Group sues Texas over law banning state business with firms “boycotting” fossil fuels

The lawsuit, filed in federal court, argues that the 2021 so-called “anti-ESG” law discriminates against specific political views.

The Texas Tribune

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Texas must build hundreds of thousands of homes to lower housing costs, says state comptroller

Texas needs hundreds of thousands more homes than it has, per one estimate. That shortage has driven up home prices and rents.

The Texas Tribune

Texas comptroller adds NatWest to list of companies ‘boycotting’ fossil fuel firms

The bank is latest to be named by officials in the US state, which has law to protect oil and gas sector

The Guardian - UK

US states invest $300m in Israeli bonds since start of Israel-Hamas war

Majority of funds comes from states with officials belonging to conservative group that has attacked ‘political’ investments

The Guardian - US

Texas GOP lawmakers’ border and education wishlist would expand state budget by $2.7 billion — and counting

If bills now being considered pass, lawmakers will be left with $3.3 billion to take care of unforeseen costs over the next two years. Some experts worry that Texas can’t sustain its massive spending on the border and public education.

The Texas Tribune

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Texas will have an $18.6 billion surplus and avoid a recession, comptroller projects

The updated comptroller’s report raises the amount of revenue available to the state over the 2024-25 cycle to $194.6 billion.

The Texas Tribune

Ken Paxton’s deputy demands back pay for months the attorney general was suspended

Comptroller Glenn Hegar said he disagreed with Paxton’s interpretation of the law and suggested he seek a ruling from the Texas Supreme Court.

The Texas Tribune

Texas lawmakers will have new money going into special session on education, comptroller says

Texas Comptroller Glenn Hegar says the state has collected more from insurance premiums that he had previously predicted. He suggested lawmakers invest more in teacher pay raises.

The Texas Tribune

Paxton tied to troubled businessman

Paxton worked to connect Kenny Hansmire with state comptroller, who oversees millions in opioid settlement money

Salon

Texas will spend billions to connect the state with broadband. But is it clear which neighborhoods need help?

On the eve of a historic investment in connecting the Lone Star State, advocates worry maps that will help establish which communities get funding have bad information.

The Texas Tribune

Texas comptroller certifies new $321.3 billion state spending plan, sends to Abbott’s desk

Before Abbott can review the budget that will direct the state’s spending for the next two years, the comptroller has to certify that it doesn’t spend more money than the state expects to bring in.

The Texas Tribune

Texas House OKs $5 billion for broadband, if voters give thumbs up

The legislation — which falls short of the $10 billion needed to ensure all Texans have reliable internet access — must still win approval in the state Senate.

The Texas Tribune

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The Texas Tribune

Texas drops effort to punish Harris County over its law enforcement spending

The fight is the latest skirmish between Texas Comptroller Glenn Hegar and Harris County leaders over whether they “defunded” law enforcement.

Ballotpedia

The top fundraisers among Texas statewide elected offices

Campaign finance requirements govern how much money candidates may receive from individuals and organizations, how often they must report those contributions, and how much individuals, organizations, and political entities may contribute to campaigns.

Tribune News Service

Texas’ next ESG target will be insurers: ‘We’re gonna teach them some manners’

Texas’ fight against environmental, social and corporate governance policies may soon expand to another front: insurance companies.

The Texas Tribune

Gov. Greg Abbott vows to exclude renewable energy from any revived economic incentive program

In 2021, the Texas Senate declined to consider a bill extending the program, which discounted local property taxes to lure big companies to the state. It had become plagued with bipartisan accusations of “corporate welfare.”

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Ballotpedia

House to vote this week on Department of Labor’s ERISA/ESG rule

Fox News reported on February 24 that the U.S. House will vote this week on a measure opposing the Labor Department’s rule allowing ESG consideration in ERISA-governed retirement funds:

The Texas Tribune

Texas’ teacher pension fund divested from investment firms accused of “boycotting” oil and gas industry

The Teacher Retirement System of Texas was following a new state law targeting investment firms that seek to invest in companies that don’t worsen climate change.

The Texas Tribune

Texas Legislature’s state budget proposals leave more than $50 billion in state funds up for grabs

The preliminary budgets by House and Senate call for $130.1 billion in state spending over two years, even though tens of billions more are available to them. The bills do not bust state or constitutional spending limits.

The Texas Tribune

Texas lawmakers will have $188.2 billion available for the next budget after record-breaking revenue growth

It’s far more money than legislators have ever had at their disposal, with an increase in available funds that dwarfs any previous jumps between cycles. It’s also more money than lawmakers can constitutionally spend.

The Texas Tribune

Texas Supreme Court says it can’t force the state to process deluge of applications for tax break expiring this year

The program, known as Chapter 313, provides companies with billions of dollars in property tax breaks. The court said it is up to the Legislature to make the call on what to do as the program is set to expire and the state is swamped with applications.

Tribune News Service

Texas’ worst drought in a decade could rival 2011′s economic losses

Texas is experiencing its worst drought since 2011, with a blistering summer and prolonged dry conditions expected to deal a similar blow to the state’s economy, according to the Texas Comptroller’s office.

The Texas Tribune

Companies say they’re being denied Texas tax breaks as a state agency is overwhelmed with applications

Hundreds of businesses have sought tax savings from the state before the Chapter 313 program expires. Two companies say they are missing out despite being eligible.

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