The day before the 85th Legislature convenes, Texas State Comptroller Glenn Hegar provided his estimate that Texas lawmakers will have $104.9 billion for general-purpose spending during the 2018-19 biennium. The attached graphic provides a closer look at the biennial revenue estimate. This is a decrease from the 84th Session, when lawmakers were given an estimate of $113 billion at the start of session.
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.
The state’s Rainy Day Fund balance currently stands at approximately $10.2 billion. Absent any additional appropriations that might be made by the Legislature, the balance is expected to be $11.9 billion at the end of the 2018-19 biennium.
The full Biennial Revenue Estimate is available on the Comptroller’s website at: https://www.comptroller.texas.gov/transparency/reports/biennial-revenue-estimate/2018-19/
