(AUSTIN) — Texas Comptroller Glenn Hegar released the Biennial Revenue Estimate (BRE) today, showing the state is projected to have approximately $112.5 billion in revenue available for general-purpose spending during the 2022-23 biennium.
The revenue estimate represents a 0.4 percent decrease from funds available for the 2020-21 biennium. This decline is a direct result of the COVID-19 pandemic, which caused revenue collections to fall well short of what was expected when the Legislature approved the 2020-21 budget; the ending 2020-21 balance will be close to a negative $1 billion. Read more »
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.
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 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Google Chrome, Microsoft Internet Explorer and Apple Safari.
In Billions of Dollars
General Revenue-Related (GR-R)
|Other GR-R Revenues||+||$15.03||$15.65||$0.62|
|Total GR-R Revenues||=||$112.44||$119.58||SUB
|Total GR-R Revenue & Fund Balances||=||$117.28||$118.63||SUB
Revenue Reserved for Transfers
to the Economic Stabilization
and State Highway Funds
Amount Needed for
Texas Tomorrow Fund*
Total Revenue Available for
* 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.
Texas Comptroller of Public Accounts