Texas Comptroller Glenn Hegar has announced the transfer of $3.33 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received more than $1.66 billion, or 50 percent of the total transfer. The transfer amounts are based on crude oil and natural gas production tax revenues in excess of 1987 collections. If either tax generates more revenue than the 1987 threshold, an amount equal to 75 percent of the excess is transferred. When fiscal 2019 ended on Aug. 31, the ESF balance was $10.1 billion. With this most recent transfer, the new balance will be about $11.45 billion, not accounting for currently outstanding spending authority of approximately $3.74 billion. The balance in the ESF will change as agencies spend down this remaining appropriation authority and investment earnings are realized.