Biennial Revenue Estimate 2018-2019January 9, 2017

At the beginning of each regular session of the Texas Legislature, the Texas Constitution requires the Comptroller of Public Accounts to submit a statement showing the state’s financial condition and estimating the revenue it can expect to receive during the next two-year budget period.

This Biennial Revenue Estimate (BRE) forms the basis of each successive state budget. Legislators must ensure that total appropriations do not exceed the amount predicted to be available in the BRE.

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Biennial Revenue Estimate: A Closer Look

Revenue Available for General Purpose Spending

In Billions of Dollars

Revenue		2016-17	2018-19	Subtotal?
General Revenue-Related (GR-R) Revenues from Sales Taxes (Before allocation to State Highway Fund)	+	$56.83	$61.97
Sales Taxes Allocated to State Highway Fund	−	minus$0.00	minus$4.71*
* In 2015, voters approved Proposition 7, which requires the Comptroller to direct some tax revenues to the State Highway Fund starting in fiscal 2018.
Net GR-R Revenues from Sales Taxes	=	equals$56.83	equals$57.26	SUBTOTAL
Other GR-R Revenues	+	plus$45.61	plus$49.21
Total GR-R Revenues	=	equals$102.45	equals$106.47	SUBTOTAL
Beginning Balance (Funds carried forward from 2016)	+	plus$7.29	plus$1.53
Total GR-R Revenue &Fund Balances	=	equals$109.73	equals$108.00	SUBTOTAL
Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds	−	minus$2.0	minus$3.13
Total Revenue Available for General-Purpose Spending	=	equals$107.73	equals$104.87	TOTAL

2016-17

2018-19

General Revenue-Related (GR-R) Revenues from Sales Taxes (Before allocation to State Highway Fund)

$56.83

$61.97

Sales Taxes Allocated to State Highway Fund

$0.00

$4.71*

* In 2015, voters approved Proposition 7, which requires the Comptroller to direct some tax revenues to the State Highway Fund starting in fiscal 2018.

Net GR-R Revenues from
Sales Taxes

$56.83

$57.26

Other GR-R Revenues

$45.61

$49.21

Total GR-R Revenues

$102.45

$106.47

SUBTOTAL

Beginning Balance (Funds carried forward from 2016)

$7.29

$1.53

Total GR-R Revenue &Fund Balances

$109.73

$108.00

SUBTOTAL

Revenue Reserved for Transfers to the Economic Stabilization and State Highway Funds

$2.0

$3.13

Total Revenue Available for General-Purpose Spending

$107.73

$104.87

TOTAL

General Revenue-Related Revenues

General Revenue-Related Revenues
Revenue Source	Percent of Total
Motor Vehicle Sales and Rental Taxes	9.3%
Oil Production Tax	4.4%
Francise Tax	5.6%
Natural Gas Production Tax	1.6%
Sales Taxes	53.8%
All Other State Taxes	10.5%
Fees, Investments and Other Non-Tax Revenue	13%

Revenue Source

Percent of Total

Motor Vehicle Sales and
Rental Taxes

9.3%

Oil Production Tax

4.4%

Francise Tax

5.6%

Natural Gas Production Tax

1.6%

Sales Taxes

53.8%

All Other State Taxes

10.5%

Fees, Investments and
Other Non-Tax Revenue

13%

Annual Net Sales Tax Collections In Billions of Dollars
Year	All Funds	General Revenue-Related
2004	$15.42	$15.36
2005	$16.31	$16.25
2006	$18.28	$18.20
2007	$20.27	$20.18
2008	$21.60	$21.52
2009	$21.01	$20.94
2010	$19.63	$19.56
2011	$21.48	$21.40
2012	$24.19	$24.10
2013	$25.94	$25.84
2014	$27.39	$27.27
2015	$28.91	$28.79
2016	$28.25	$28.14
2017	$28.80	$28.70
2018	$30.38	$28.07
2019	$31.81	$29.20

In Billions of Dollars

Year

All Funds

General Revenue-Related

2004

$15.42

$15.36

2005

$16.31

$16.25

2006

$18.28

$18.20

2007

$20.27

$20.18

2008

$21.60

$21.52

2009

$21.01

$20.94

2010

$19.63

$19.56

2011

$21.48

$21.40

2012

$24.19

$24.10

2013

$25.94

$25.84

2014

$27.39

$27.27

2015

$28.91

$28.79

2016

$28.25

$28.14

2017

$28.80

$28.70

2018

$30.38

$28.07

2019

$31.81

$29.20

Biennial Revenue Estimate 2018-2019January 9, 2017

Required Applications:

Biennial Revenue Estimate

A CLOSER LOOK

Revenue Available for General Purpose Spending

General Revenue-Related Revenues

Annual Net Sales Tax Collections

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Biennial Revenue Estimate 2018-2019January 9, 2017

Required Applications:

Biennial Revenue Estimate

A CLOSER LOOK

Revenue Available for General Purpose Spending

General Revenue-Related Revenues

Annual Net Sales Tax Collections