SESSION ENDS WITHOUT BILL

The special session, called to tackle the Public School Finance funding issue, came to a close Monday when the Texas House and Senate adjourned two days earlier than expected. The session ended without approving a bill.

In a joint appearance, Governor Perry, Lt. Governor Dewhurst, and Speaker of the House Craddick stated that lawmakers will not be brought back until there is consensus on what to do about school finance and property taxes. They expressed hope to find this consensus as quickly as possible.

Dewhurst & Craddick will form two joint House and Senate working groups, one on school reform and the other on revenue options, and ask the lawmakers working in these groups to hash out differences between the two chambers.

Perry & Dewhurst are eager to get legislation passed before the end of August, the latest that the Legislature could vote to put possible amendments to the Texas Constitution on the November ballot.

Then again, Craddick prefers to wait until after a state District Court in August hears and then rules on a lawsuit by several school districts challenging the existing school finance system. Rumor around the capitol is that a return to Austin for another Special Session before mid-June is highly unlikely

SENATE PASSES BUSINESS TAX PROVISIONS IN JOBS ACT

By Alby Modiano, US Oil & Gas Association

The U.S. Senate recently passed business tax provisions as part of the JOBS Act. The specific oil and gas provisions are included in a Senate Finance Committee Staff Memorandum which you may access by clicking here.

We will keep you informed regarding the activities of the House Ways and Means Committee, and the final disposition of the oil and gas tax measures as they move from the House through Conference.

When the cost of the Senate's oil and gas tax program was updated and recalculated earlier in the week the total cost of these provisions was raised from $14 billion to $18 billion.

SUMMER LEGISLATIVE PLANNING RETREAT SCHEDULED

The Association's Legislative Committee, committee chairs and Association staff will meet on Monday and Tuesday, June 14 & 15, for TXOGA's Summer Legislative Planning Retreat.

The meeting, one of the four regularly held each year, is intended to review and plan legislative and regulatory working agendas and hear updates on the current work of each of the Association's standing committees.