Texas Comptroller Glenn Hegar releases Biennial Estimate

Submitted by Canton1 on

Texas Comptroller Glenn Hegar released the state’s Biennial Revenue Estimate Jan. 9, showing the state is projected to have approximately $104.9 billion in revenue available for general-purpose spending during the 2018-19 biennium.
This represents a 2.7 percent decrease from the amounts available for the 2016-17 biennium. It’s important to note that this decline is not due to a projected drop in total revenue collections from the 2016-17 biennium to the 2018-19 biennium. The Comptroller is projecting overall revenue growth from the current biennium to the next. Such growth, however, is offset by a significantly lower beginning balance of $1.5 billion. In addition, a 2015 voter-approved constitutional provision (Proposition 7) dedicates up to $5 billion in biennial sales tax revenue to the State Highway Fund (SHF) starting in the 2018-19 biennium to address important transportation infrastructure needs.

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