The CPA estimates that, absent any new appropriations from the fund, the balance in Economic Stabilization Fund (ESF) at the end of the 2016–17 biennium will reach $10.4 billion, $5.8 billion less than the estimated cap, according to a March Legislative Budge Board brief. The ESF cap for the 2016–17 biennium is $16.2 billion. The ESF cap for the 2014–15 biennium was $14.1 billion. The ESF balance at the end of the 2014–15 biennium was $8.5 billion, $5.6 billion less than the cap.
The Economic Stabilization Fund (ESF), commonly called the Rainy Day Fund, was established by an amendment to the Texas Constitution in November 1988.