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Read the Certification Revenue Estimate July 2018 Update »
Certification Revenue Estimate A CLOSER LOOK
Prior to the legislative session, the Comptroller issues a Biennial Revenue Estimate (BRE) to tell lawmakers how much they can spend over the next two years. Afterward, the Comptroller issues periodic Certification Revenue Estimates (CREs) as needed to reflect legislative activity and the most current economic information. The CRE was released in October 2017 and revised in July 2018.
Revenue Available for General Purpose Spending in the 2018-19 Biennium (In Billions of Dollars)
| Revenue | CRE October 2017 |
CRE July 2018 |
Notes | |
|---|---|---|---|---|
| General Revenue-Related (GR-R) Revenues from Sales Taxes (Before allocation to State Highway Fund) | $62.31billion dollars | $65.01billion dollars | ||
| Sales Taxes Allocated to State Highway Fund | minus$3.23billion dollars | minus$4.75*billion dollars | * Legislative action during the 85th Regular Session deferred one month's transfer payment into the 2020-21 biennium. Now estimated at $250 million. |
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* Legislative action during the 85th Regular Session deferred one month's transfer payment into the 2020-21 biennium. Now estimated at $250 million. |
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Net GR-R Revenues from Sales Taxes |
equals$59.08billion dollars | equals$60.26billion dollars | ||
| Other GR-R Revenues | plus$49.52billion dollars | plus$53.72billion dollars | ||
| Total GR-R Revenues | equals$108.60billion dollars | equals$113.98billion dollars | SUBTOTAL | |
| Beginning Balance (Funds carried forward from 2017) | plus$0.88billion dollars | plus$0.88billion dollars | ||
| Change in GR-Dedicated Account Balances from the BRE | plus$1.22billion dollars | plus$1.24billion dollars | ||
| Total GR-R Revenue &Fund Balances | equals$110.70billion dollars | equals$116.10billion dollars | SUBTOTAL | |
| Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds | minus$3.37billion dollars | minus$5.93billion dollars | ||
| Total Revenue Available for General-Purpose Spending | equals$107.33billion dollars | equals$110.17billion dollars | TOTAL | |
Severance tax transfers to the Rainy Day Fund and the State Highway Fund
In addition to sales tax related transfers to the highway fund, in each biennium, amounts previously reserved are transfered to the state’s Economic Stabilization Fund (ESF), also known as the “Rainy Day Fund,” and the State Highway Fund (SHF).
In fiscal 2018, $734 million will be transferred to both the Economic Stabilization Fund (ESF) and the State Highway Fund (SHF). In fiscal 2019, the two funds will each receive $1.37 billion.
Projected General Revenue-Related Revenues
| Revenue Source | Percent of Total |
|---|---|
| Motor Vehicle Sales and Rental Taxes |
8.7% |
| Oil Production Tax | 6.4% |
| Francise Tax | 5.1% |
| Motor Fuel Taxes | 1.8% |
| Natural Gas Production Tax | 2.5% |
| All Other State Taxes | 10.1% |
| Sales Taxes | 52.9% |
| Fees, Investments and Other Non-Tax Revenue |
12.6% |
Printable Version A Closer Look: Certification Revenue Estimate – July 2018 Update (PDF)