The Comptroller Saves the Day… Yet Again. The Biennial Revenue Estimate Revision Surprises Few. Lordy… It’s a Miracle.

Here I come to save the day…! Just minutes after the Conference Committee on SB1 announced their retreat from the public eye to address the differences between the Senate and the House versions of SB1 (General Appropriations Bill), Texas Comptroller Glenn Hegar revised the state’s Biennial Revenue Estimate (BRE) indicating that Texas now has $3.12 billion more in revenue for 2022-23 than first projected in January. Veteran end-of-session drama buffs will note that the timing of this was right in lockstep with other sessions, where the miraculous has occurred year after year just as the Conference Committee had their red pens drawn. “Here’s your last chance, Fancy—don’t let me down.” Texas’ 2020-21 revenue available for general-purpose spending is projected to be $113.88 billion. Its ending balance in General Revenue-Related (GR-R) funds is projected to be $725 million, an increase of $1.67 billion from the negative balance projected in the January 2021 BRE. The i