Senator Nelson Requests AG Opinion on Potential Delay of Transfer to SHF

Senate Finance Chair Jane Nelson has requested an opinion from the Attorney General on whether delaying fiscal year deposits to the State Highway Fund is allowable under the Texas Constitution. The Texas Constitution provides that the deposit of $2.5 billion of sales tax revenue to the SHF shall be made into the treasury the same fiscal year as collected – provided the collections exceed a certain threshold. In discussion with Senator Nelson, Comptroller Glenn Hegar stated that a conclusion would be to transfer sales tax revenue to the SHF in September, rather than August, to allow for actual net revenue fiscal year end calculations.