Gov. Perry: IRS approves Texas’ request to back school bonds
AUSTIN — Gov. Rick Perry on Wednesday, Dec. 16, announced that the IRS has granted the state’s request that they revise federal regulations that limited our state’s ability to guarantee local school district facilities bonds with the Permanent School Fund (PSF). Today’s ruling by the IRS aligns federal regulations with state law, allowing the state to back more bonds and save taxpayers money.
“The IRS’ decision to grant our request will now allow the state to back more voter approved school district bonds, providing lower cost financing to secure adequate facilities for the schoolchildren of Texas, and easing the burden on local property taxpayers,” Gov. Perry said.