P.O. Box 12068, State Capitol
Austin, Texas 78711
Tel. (512) 463-0112
FOR IMMEDIATE RELEASE
January 22, 2019
On the agenda: Organizational Meeting
Comptroller - Overview of the Biennial Revenue Estimate
Legislative Budget Board - Overview of SB 1 & SB 500
View the posting at https://capitol.texas.gov/tlodocs/86R/schedules/html/C5402019012210001.HTM.
View highlights of SB 1 and SB 500 at https://senate.texas.gov/press.php?id=12-20190115b&ref=1.
Highlights for Today's Hearing
- The Comptroller issued the BRE earlier this month, estimating approximately $119B in General Revenue available for the FY 20-21 biennium.
- SB 500, the supplemental budget filed last week by Senator Nelson, appropriates $4.2B -- $1.7B in GR and about $2.5B from the Economic Stabilization Fund (ESF) -- leaving about $117B in remaining revenue.
- SB 1, the general appropriations bill filed last week by Senator Nelson, appropriates $112B in GR.
- Accounting for SB 1 and SB 500, the ESF will have a projected ending balance of $12.8B at the end of FY 20-21.
Statement from Senator Nelson: "Texas is in a strong position to meet our needs and invest in education -- which is the key to our future. In addition to providing teachers a well-deserved pay raise, our budgets reduce recapture, pay for enrollment growth, enhance school safety and better connect young Texans to mental health services. We are also providing critical resources to help victims of sexual assault, domestic violence and human trafficking."