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Biennial Revenue Estimate 2022-2023 Jan. 11, 2021; Updated May 2021

At the beginning of each regular session of the Texas Legislature, the Texas Constitution requires the Comptroller of Public Accounts to submit a statement showing the state’s financial condition and estimating the revenue it can expect to receive during the next two-year budget period.

This Biennial Revenue Estimate (BRE) forms the basis of each successive state budget. Legislators must ensure that total appropriations do not exceed the amount predicted to be available in the BRE.

A Closer Look - Click for accessible version

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May 2021 Update to the Biennial Revenue Estimate (PDF)

Biennial Revenue Estimate May 2021 Update: A Closer Look

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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 Fund and the State Highway 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

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