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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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Certification Revenue Estimate: A Closer Look (PDF)


July 2022
Certification Revenue Estimate

The Comptroller issues at least two revenue estimates when the Legislature meets in regular session. The Biennial Revenue Estimate tells lawmakers how much money they can spend on the state budget. The Certification Revenue Estimate (CRE), released after the state budget is final, reflects legislative action and new economic information. The CRE may be updated as warranted by economic circumstances. This estimate updates the CRE issued in November 2021.

Revenue Available for
General Purpose Spending
in the 2022-23 Biennium

Description CERTIFICATION
REVENUE
ESTIMATE
November
2021
CERTIFICATION
REVENUE
ESTIMATE
July
2022
Notes In Billions
General Revenue-Related
(GR-R) Tax Collections
plus $117.20 plus $134.89
Other GR-R Revenues plus $16.17 plus $17.99
Total GR-R Revenues equals $133.37 equals $152.88
Beginning Balance
(Funds carried forward from previous biennium)
plus $10.96 plus $10.96
Total GR-R Revenue
& Fund Balances
equals $144.33 equals $163.84 SUBTOTAL
Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds minus $9.01 minus $14.77
Total Revenue Available for General-Purpose Spending equals $135.32 equals $149.07 TOTAL

Note: Totals may not sum due to rounding.


Severance Tax Transfer to the Economic Stabilization Fund (ESF) and State Highway Fund (SHF)

$26.9
BILLION
GR-R BALANCE
END OF FISCAL
2023


The ESF will have a projected balance of $13.66 billion at the end of fiscal 2023, taking into account interest and investment earnings, and absent any additional legislative appropriations. The Legislature can appropriate money from the ESF only with a super-majority vote of the House and Senate.

$26.9
BILLION
GR-R BALANCE
END OF FISCAL
2023

In Fiscal 2022, $1.46 billion was transferred to both ESF and SHF.  Projected transfers for 2023 ar $3.58 billion.

Projected General Revenue-Related Revenues

State Tax Revenues:

  • Sales Taxes, 51.0%
  • Motor Vehicle Sales and Rental Taxes, 7.7%
  • Franchise Tax, 5.0%
  • Oil Production Tax, 8.4%
  • Natural Gas Production Tax, 6.0%
  • Motor Fuel Taxes, 1.3%
  • All Other State Taxes, 9.0%

Other Revenue: Fees, Investments and Other Non-Tax Revenue, 11.8%

Glenn Hegar

Texas Comptroller of Public Accounts