Hegar Finds More Funds for Certified Revenue Estimate for 2018-19 Biennium

By Thomas Canby posted 10-11-2017 07:42

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On October, 10, 2017, Texas Comptroller Glenn Hegar certified the General Appropriations Act for the 2018-19 biennium and other appropriations bills approved by the 85th Legislature. Hegar certified a revenue estimate of $107.33 billion for the biennium versus the estimate of $104.87 billion that he announced in January 2017 at the beginning of the 85th Legislative Session. According to the Comptroller's announcement "This revenue estimate will support general-purpose spending of $107.23 billion for the 2018-19 biennium, resulting in an expected ending General Revenue-related certification balance of $94 million." Hegar attributed the increased revenue estimate to a return to a normal pattern of growth in Texas in excess of the national rate of growth. Hegar qualified the revenue estimate based upon uncertainty concerning the overall economic impact of Hurricane Harvey, although he stated that his preliminary estimates of the costs associated with recovery efforts as well as federal revenues were factored into the projections supporting the certified revenue estimate.

More details: Certification Revenue Estimate 2018-19

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