Texas Comptroller Glenn Hegar has announced his certification of House Bill 1, the general appropriations act that was approved by both houses during the recently gaveled regular session of the 86th Texas Legislature. The bill now heads to the desk of Gov. Greg Abbott. HB 1 appropriates $250.7 billion in total spending for the state’s budget during the 2020-21 biennium.
HB 1 is certified based on the most recent total revenue projection released in May, which includes an upward revision of $518 million and accounts for the passage of online marketplace legislation, which added approximately $550 million in additional sales tax revenue.
The Legislature also addressed some key long-term concerns that Hegar has highlighted in recent years, such as teacher pensions and healthcare. But Hegar noted that long-term liability concerns continue to put downward pressure on the state’s credit rating.