The Texas Legislature is inexorably marching toward the biennial State budget. While there are always far more legitimate ways to spend money than available funds, we are starting from a strong – unprecedented, in fact – position.
Over the 2024-25 biennium, the revenue collected and available for general purpose spending is projected to total $188.23 billion, which includes an expected ending balance for 2022-23 of $32.69 billion. (The State’s fiscal year ends on August 31.) The amount available is over 26% higher than in 202223.
Some large transfers come off the top and aren’t counted in the $188.23 billion, including $10.2 billion of expected 202425 oil and natural gas tax collections to the Economic Stabilization Fund (ESF) and State Highway Fund (SHF); these reserves would be even higher if the ESF was not expected to be maxed out.
