COMPTROLLER RELEASES BIENNIAL REVENUE ESTIMATE FOR 2022-23

  

The State of Texas is expected to have over $112-Billion in revenue for general-purpose spending during the 2022-23 biennium.

Texas Comptroller Glenn Hegar released the Biennial Revenue Estimate, Monday.

The revenue estimate represents a 0.4 percent decrease from funds available for the 2020-21 biennium. Hegar says the 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.

Hegar says the estimate, based on the most recent information available, represents efforts to provide lawmakers with the most accurate forecast possible as they prepare the budget for the 2022-23 biennium.

The complete Biennial Revenue Estimate is available on the Comptroller’s website: https://comptroller.texas.gov/.