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Biennial Revenue Estimate 2022-2023 January 11, 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.

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Biennial Revenue Estimate

January 2021

Before each regular legislative session, the Texas Comptroller issues the Biennial Revenue Estimate (BRE) to inform lawmakers of the funds available to spend on state programs through the next two-year budget period. Due to the economic effects of the COVID-19 pandemic, lawmakers can expect a negative beginning balance as they begin writing the 2022-23 state budget.

Revenue Available for General Purpose Spending

In Billions of Dollars

Revenue Available for General Purpose Spending
Fund	Operator	2020-21	2022-23	Note	CHANGE
General Revenue-Related (GR-R) Tax Collections	+	$97.41	$103.93		$6.52
Other GR-R Revenues	+	$15.03	$15.65		$0.62
Total GR-R Revenues	=	$112.44	$119.58	SUB TOTAL	$7.14
Beginning Balance	+	$4.84	−$0.95		−$5.79
Total GR-R Revenue & Fund Balances	=	$117.28	$118.63	SUB TOTAL	$1.35
Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds	−	$4.32	$5.83		$1.51
Amount Needed for Texas Tomorrow Fund*	−	N/A	$0.27		$0.27
Total Revenue Available for General-Purpose Spending	=	$112.96	$112.53	TOTAL	−$0.44

* 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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Biennial Revenue Estimate 2022-2023 January 11, 2021

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Biennial Revenue Estimate

Revenue Available for General Purpose Spending