Glenn Hegar

Texas Comptroller Glenn Hegar Revises Revenue Estimate, Projects a Fiscal 2021 Ending Balance of $1.67 Billion More than January Estimate

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today revised the Biennial Revenue Estimate (BRE) and now projects 2020-21 revenue available for general-purpose spending to be $113.88 billion and the ending balance in General Revenue-Related (GR-R) funds to be $725 million, an increase of $1.67 billion from the negative balance projected in the January 2021 BRE. The increased ending balance, combined with upwardly revised projections of revenue collections for the 2022-23 biennium, results in an estimate of $115.65 billion […]

State Sales Tax Revenue Totaled $3.4 Billion in April

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.4 billion in April, a record-high monthly total and 31.4 percent more than in April 2020. Year-over-year increases for most tax revenues this month and in the coming months will be among the highest in the history of the data series. This is due to base effects: year-ago revenue collections to which this year’s collections are compared were severely suppressed by the pandemic. Nonetheless, this […]

State Sales Tax Revenue Totaled $3.4 Billion in April

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.4 billion in April, a record-high monthly total and 31.4 percent more than in April 2020. Year-over-year increases for most tax revenues this month and in the coming months will be among the highest in the history of the data series. This is due to base effects: year-ago revenue collections to which this year’s collections are compared were severely suppressed by the pandemic. Nonetheless, this […]

Texas Comptroller Glenn Hegar to Release Biennial Revenue Estimate

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar will issue the Biennial Revenue Estimate to the 87th Legislature on Monday, Jan. 11. The Biennial Revenue Estimate reports the amount of revenue available for the Legislature to spend for the fiscal 2022-23 state budget.  Hegar will host a virtual news conference at 10 a.m. to discuss the revenue estimate. Members of the media can watch the news conference via Microsoft Teams and submit questions for the Comptroller following the presentation. The Microsoft […]

Comptroller’s Office: Food Banks Could Claim Enough Unclaimed Property to Feed Thousands

Texas Comptroller Glenn Hegar

The Comptroller’s office is working with food banks throughout the state to check the agency’s unclaimed property website for funds that could help fill their pantries during this holiday season. An initial check of some notable Texas food pantries shows that they’re owed thousands of dollars in unclaimed property. The San Antonio Food Bank recently laid claim to enough unclaimed property to provide nearly 140,000 meals to needy Texans facing increased food insecurity. “The economic […]

Comptroller’s Office Accepting Match the Promise Scholarship Applications Through Dec. 31

Texas Comptroller Glenn Hegar

Comptroller Glenn Hegar today reminded Texans that the application deadline for Texas Match the Promise Foundation℠ scholarship awards is Dec. 31, 2020. Match the Promise scholarship awards are available for fifth through ninth graders: who are beneficiaries of a Texas Tuition Promise Fund® (TTPF) account, the state’s prepaid college tuition plan; whose families have an annual income of $100,000 or less; and who are Texas residents and the dependents, for tax purposes, of Texas residents. Families who […]

Texas Comptroller Glenn Hegar Releases Tax Exemptions and Tax Incidence Report

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today released the Tax Exemptions and Tax Incidence report, as required by state law. The report estimates the value of each exemption, exclusion, discount, deduction, special accounting method, credit, refund and special appraisal available to payers of Texas’ sales, franchise, motor vehicle sales and oil production taxes, as well as property taxes levied by school districts. “As we did with the 2018 edition of this report, we’re providing these estimates in advance of […]

State Sales Tax Revenue Totaled Nearly $3 Billion in November

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $2.98 billion in November, 6.3 percent less than in November 2019. The majority of November sales tax revenue is based on sales made in October and remitted to the agency in November. “November state sales tax collections continued the trends of recent months, with receipts down from a year ago in all major economic sectors other than retail trade,” Hegar said. “Increased collections from retail […]

Texas Comptroller’s Office Announces Prepaid Debit Card for Texas ABLE® Program

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today announced the launch of the U.S. Bank® Focus Card — a new prepaid debit card for Texas ABLE® Program account owners. With the Focus Card, Texas ABLE account owners can pay for qualified disability expenses on the go or online — anywhere nationwide that accepts Visa® debit cards.  “This is a powerful tool that gives Texas ABLE account owners a convenient new way to use the funds in their accounts,” Hegar said. “This increased flexibility will help account holders manage their […]

Texas Comptroller Glenn Hegar Announces Transfer of $2.3 Billion to State Highway and Rainy Day Funds

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar announced today he recently completed the transfer of $2.27 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received more than $1.13 billion, or 50 percent of the total transfer. The economic contraction associated with the COVID-19 pandemic and recent volatility in oil prices contributed to the transfer amounts being lower than the $1.66 billion each fund received […]