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Glenn Hegar
Texas Comptroller of Public Accounts
Glenn Hegar
Texas Comptroller of Public Accounts
Glenn Hegar
Texas Comptroller of Public Accounts

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A closer look

Certification Revenue Estimate


July 2020

Prior to the legislative session, the Comptroller issues a Biennial Revenue Estimate (BRE) to tell lawmakers how much they can spend over the next two years. After the legislative session, the Comptroller issues a Certification Revenue Estimate (CRE) to reflect legislative activity and the most current economic information, as well as to take into account final revenue numbers for the recently ended fiscal year. The CRE may be updated as warranted by economic circumstances.


Revenue Available for General Purpose Spending in the 2020-21 Biennium (In Billions of Dollars)

Revenue CRE
October 2019
CRE
July
2020
Notes
General Revenue-Related (GR-R) Tax Collections $108.14 $94.12
Other GR-R Revenues $14.99 $14.71
Total GR-R Revenues $123.13 $108.83
Beginning Balance (Funds carried forward from 2019) $4.72 $4.72
Change in GR-Dedicated Account Balances from the BRE $0.39 $0.07
Total GR-R Revenue & Fund Balances $128.24 $113.62 SUBTOTAL
Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds $6.48 $3.44
Total Revenue Available for General-Purpose Spending $121.76 $110.19 TOTAL

Note: Totals may not sum because of rounding.

Severance Tax Transfers to the Rainy Day Fund and the State Highway Fund

The State Highway Fund (SHF) and Economic Stabilization Fund (ESF) both receive oil and gas severance tax dollars. The SHF also receives a share of sales tax revenue when annual collections exceed $28 billion.

In fiscal 2020, 1.67 billion dollars will be transferred to both the Economic Stabilization Fund (ESF) and the State Highway Fund (SHF).   In fiscal 2021, the two funds will each receive 1.10 billion dollars.

Projected ending
shortfall of
$4.58 BILLION

Monthly Sales Tax Collections Percent Change
from Previous Year/All Funds Fiscal 2020

Monthly Sales Tax Collections Percent Change from Previous Year/All Funds Fiscal 2020
MonthPercent Change from Previous Year
Sept 1.24
Oct 6.98%
Nov 6.17%
Dec 4.85%
Jan 8.87%
Feb 3.51%
March 2.86%
April -9.29%
May -13.16%
June -6.51%

Glenn Hegar

Texas Comptroller of Public Accounts

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