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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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Biennial Revenue Estimate
Jan. 11, 2021



Texas Comptroller Glenn Hegar Revises Revenue Estimate, Projects a Fiscal 2021 Ending Balance of $1.67 Billion More than January Estimate

(AUSTIN) — Texas Comptroller Glenn Hegar today revised the Biennial Revenue Estimate (BRE) and now projects 2020-21 revenue available for general-purpose spending to be $113.88 billion and the ending balance in General Revenue-Related (GR-R) funds to be $725 million, an increase of $1.67 billion from the negative balance projected in the January 2021 BRE.

The increased ending balance, combined with upwardly revised projections of revenue collections for the 2022-23 biennium, results in an estimate of $115.65 billion available for general-purpose spending in 2022-23, an increase of $3.12 billion from the January BRE. Read more »

May 2021 Update to the Biennial Revenue Estimate (PDF)

Download the 2022-23 Biennial Revenue Estimate (PDF)

July 2020 Revised Certification Revenue Estimate (PDF)

2020-2021 Biennial Revenue Estimate

BRE Infographic (accessible version) View Larger

Download the Infographic (PDF)

Download the Presentation (PDF)


The Pandemic’s Impact on the Texas Economy

Economic contraction associated with the pandemic and the drop in energy prices warranted a revision of the Certification Revenue Estimate in July. While the budget outlook has improved since then, tremendous uncertainty still lingers regarding future COVID-related economic effects. Fiscal Notes examines the pressures that will affect the budget process in the 2021 legislative session.

Texas Government Finance and Economic Uncertainty

Industry News and Hot Topics

The Making of the Biennial Revenue Estimate

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.

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2022-23 Revised Biennial Revenue Estimate

Updated May 2021

Before each legislative session, the Texas Comptroller issues the Biennial Revenue Estimate (BRE) to project the amount of money available to spend through the next two-year state budget period. The Comptroller is revising the BRE to react higher-than-expected revenues as the state navigates unprecedented economic uncertainty in the pandemic’s wake

Revenue Available for General Purpose Spending

In Billions of Dollars

Revenue Available for General Purpose Spending
Fund Operator 2020-21
2022-23
General Revenue-Related (GR-R)
Tax Collections 		+ $98.79 $106.48
Other GR-R Revenues + $15.04 $15.65
Total GR-R Revenues = $113.83 $122.13 SUB
TOTAL
Beginning Balance + $4.84 $0.73
Total GR-R Revenue & Fund Balances = $118.67 $122.86 SUB
TOTAL
Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds − $4.80 $6.94
Amount Needed for Transfer to the Texas Tomorrow Fund** − N/A $0.27
Total Revenue Available for General-Purpose Spending = $113.88 $115.65
TOTAL

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

The fiscal 2022 estimate transfers 1.26 billion dollars to both the State Highway Fund and the Economic Stabilization fund. The fiscal 2023 estimate transfers 1.67 billion dollars to each fund.

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

* The original, constitutionally guaranteed prepaid tuition program is projected to have a cash shortfall of $271 million in the 2022-23 biennium. The BRE assumes the shortfall will be paid from general revenue.
Note: Totals may not sum because of rounding.

Glenn Hegar

Texas Comptroller of Public Accounts