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BIZARRE: 3 - What They Never Told You

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.

Tribune News Service

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.”

The Texas Tribune

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:

Ballotpedia

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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.

The Texas Tribune

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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.

Tribune News Service

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.

The Texas Tribune

With billions for broadband on the line, Texas asks federal government for more time to improve access maps

Local officials, echoing Glenn Hegar, say the current maps are flawed and the process to lodge complaints is cumbersome.

The Texas Tribune

Experts see the Texas economic outlook being stronger in 2023 than other states

Some of Texas' top economic leaders paint a rosy picture for the state heading into 2023, saying it’s on more solid ground than many other areas around the country. But they also warn the state isn’t immune to a recession.

Tribune News Service

Texas comptroller asks feds to consider energy industry in endangered bat listing

DALLAS — Texas Comptroller Glenn Hegar has asked U.S. Fish and Wildlife Service to refrain from identifying critical habitats for tricolored bats over concerns about how it could limit the state’s ability to produce energy.

Tribune News Service

Republican Glenn Hegar defeats Janet Dudding to keep his state comptroller job for third term

During the campaign, Hegar touted his work on lowering taxes and expanding broadband in Texas, reforming the tax code, reducing regulations on agriculture and pushing for government transparency.

The Texas Tribune

Right-Wing Protectionism is Costing Texas

Laws banning the state from doing business with banks that are dubbed anti-fossil fuel or anti-gun could cost 100s of millions in interest.

Texas Observer

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Tribune News Service

Greg Abbott, Texas Republicans shift millions to fund border security, school safety

AUSTIN, Texas — Gov. Greg Abbott and GOP legislative leaders on Thursday shifted nearly $775 million into border security and school safety, plus $100 million to cover bills from Texas’ response to the COVID-19 pandemic.

The Independent UK

Is crime up or down? In Houston, concerns are hard to allay

A recent wave of political ads and warnings from some in law enforcement paint a picture of a Houston in which crime is out of control

The Texas Tribune

Lina Hidalgo, a rising Democratic star, faces a tough reelection race to lead Harris County

The Houston region’s high number of homicides, the state’s new abortion ban and a flood of campaign cash have made for a dramatic race to lead the state’s most populous county.

Ballotpedia

Economy and Society, September 6, 2022: Indiana joins the list of ESG-boycotting states

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

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The Texas Tribune

Not so fast: Greg Abbott, Texas Republicans face a complex election landscape after abortion ruling, Uvalde shooting

Both Gov. Greg Abbott and Beto O’Rourke hope to define the election on issues viewed as favorable to their own parties.

The Texas Tribune

Comptroller Glenn Hegar is reminding voters he’s a Republican ahead of his November election

Hegar, who is running for his third term as Texas comptroller of public accounts, has made increasingly provocative moves in recent weeks, challenging financial companies he says are anti-oil and gas and threatening budget sanctions against Harris County over police funding.

Ballotpedia

Economy and Society, August 30, 2022: Texas lists 10 funds ineligible for business with state over ESG policies

The Texas Tribune

Texas bans local, state government entities from doing business with firms that “boycott” fossil fuels

Texas Comptroller Glenn Hegar singled out financial firms under a 2021 state law that prohibits most state entities from contracting with companies that have reduced or cut investments in the oil and gas industry.

The Texas Tribune

Texas officials accuse Harris County of slashing constables’ budgets — but they’re actually going up

Comptroller Glenn Hegar said the state could block the approval of Harris County’s budget because it’s not allowing constables to roll $3 million in unspent funds into next year’s budget — even though the constables’ total funding will go up next year.

The Texas Tribune

Texas Gov. Greg Abbott joins other key Republicans in supporting repealing the “tampon tax”

Advocates have previously called for repealing the sales tax on products like tampons, sanitary pads and pantyliners. Menstrual products are already tax-free in 24 states.

The Texas Tribune

Inflation, high energy prices mean the Texas Legislature will have unprecedented funds to allocate next year

The state will have an extra $27 billion in its coffers in 2023 — money that could help pay for property tax cuts and other legislative priorities.

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