Texas Insight Capitol Digest: May 4, 2021

Texas Comptroller Glenn Hegar Issues Revised Revenue Estimate Comptroller Hegar yesterday issued the revised the Biennial Revenue Estimate (BRE), now projecting 2020-21 revenue available for general-purpose spending to be $113.88 B and the ending balance in General Revenue-Related (GR-R) funds to be $725 M, an increase of $1.67 B 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 B available for general-purpose spending in 2022-23, an increase of $3.12 B from the January BRE. The Economic Stabilization Fund (ESF) or "Rainy Day Fund" is estimated to have an ending balance of $12.12 B at the end of 2022-23 biennium, up from the January estimate of $11.6 B. The estimate does not include appropriations made by the 87th Legislature; receipt of federal funds; or any savings resulting from state agency reductions.