(AUSTIN) — Texas Comptroller Glenn Hegar released the Biennial Revenue Estimate (BRE) today, showing the state is projected to have approximately $119.1 billion in revenue available for general-purpose spending during the 2020-21 biennium.
The revenue estimate represents an 8.1 percent increase from the amounts available for the 2018-19 biennium. Hegar warned, however, that substantial supplemental appropriations could affect revenue available for the 2020-21 biennium. Read more »
Months of intense work go into the making of the BRE. It’s one of our constitutional responsibilities, and it’s an essential part of Texas’ budget process.
In Billions of Dollars
|General Revenue-Related (GR-R) Tax Collections||$99.27||$107.32|
|Other GR-R Revenues||plus$14.55||plus$14.16|
|Total GR-R Revenues||equals$113.82||equals$121.48||SUBTOTAL|
|Total GR-R Revenue & Fund Balances||equals$115.77||equals$125.67||SUBTOTAL|
|Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds||minus$5.57||minus$6.34|
|Amount Needed for Texas Tomorrow Fund*||minus$0.00||minus$0.21|
|Total Revenue Available for General-Purpose Spending||equals$110.20||equals$119.12||TOTAL|
* The original, constitutionally guaranteed prepaid tuition program is projected to have a cash shortfall of $211 million in the 2020-21 biennium. The BRE assumes the shortfall will be paid from general revenue.
Average Annual Change: 5.05%