Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar Releases Biennial Revenue Estimate

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar released the Biennial Revenue Estimate (BRE) today, showing the state is projected to have $112.5 billion in revenue available for general-purpose spending during the 2022-23 biennium. The revenue estimate represents a 0.4 percent decrease from funds available for the 2020-21 biennium. This decline is a direct result of the COVID-19 pandemic, which caused revenue collections to fall well short of what was expected when the Legislature approved the 2020-21 budget; the […]

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. 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 Teams link featuring the event will remain accessible for replay after the news conference. A shareable shortened link for the event […]

Comptroller Glenn Hegar Distributes $783 Million in Monthly Sales Tax Revenue to Local Governments

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose taxing districts $783.2 million in local sales tax allocations for January, 2.6 percent more than in January 2020. These allocations are based on sales made in November by businesses that report tax monthly. LOCAL SALES TAX ALLOCATIONS (Jan. 2021) Recipient Jan. 2021Allocations Change fromJan. 2020 Year-to-dateChange Cities    $505.6M ↑3.4% ↑3.4% Transit Systems $167.0M ↓1.3% ↓1.3% Counties $46.3M ↓3.0% ↓3.0% Special […]

State Sales Tax Revenue Totaled $2.9 Billion in December

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $2.86 billion in December, 5 percent less than in December 2019. The majority of December sales tax revenue is based on sales made in November and remitted to the agency in December. “December sales tax collections continued recent trends, with receipts from most major economic sectors significantly down from a year ago,” Hegar said. “Retail trade was the principal exception, with the strongest gains coming […]

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 […]

Comptroller Glenn Hegar Distributes $751 Million in Monthly Sales Tax Revenue to Local Governments

Texas Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose taxing districts $751.5 million in local sales tax allocations for October, 2.8 percent less than in October 2019. These allocations are based on sales made in August by businesses that report tax monthly. The COVID-19 pandemic continues to weigh on the Texas economy and sales tax revenue. LOCAL SALES TAX ALLOCATIONS (Oct. 2020) Recipient Oct. 2020Allocations Change fromOct. 2019 Year-to-dateChange […]

Texas Comptroller Glenn Hegar Announces Operator of Newly Created Texas Bullion Depository

Texas Comptroller Glenn Hegar

(AUSTIN) — Texas Comptroller Glenn Hegar announced today the selection of Lone Star Tangible Assets (LSTA) as the vendor that will partner with the Comptroller’s office to build and operate the Texas Bullion Depository — the nation’s first state-administered gold bullion depository. “This has been a lengthy process, and I appreciate everyone’s patience,” Hegar said. “We’ve been working diligently for nearly two years through a myriad of issues to ensure this partnership is successful. Lone Star Tangible Assets […]

State Sales Tax Revenue Totaled $2.44 Billion in April

Texas Comptroller Glenn Hegar

(AUSTIN) — Texas Comptroller Glenn Hegar said today that state sales tax revenue totaled $2.44 billion in April, 2.5 percent more than in April 2016. “The modest growth in state sales tax revenue reflects increased business spending in some sectors,” Hegar said. “While net collections from oil and gas companies remain depressed, receipts from the manufacturing and wholesale trade sectors were up markedly. The results of consumer spending appear mixed, with increased tax collections from restaurants […]

Will an Expanded Panama Canal Help Texas Ports?

In 2016, the Panama Canal completed a massive expansion that allows it to accommodate many more of the larger cargo ships navigating today’s global trade routes – and it could mean new economic opportunities for Texas ports. For Texas to benefit fully from increased ship traffic in the Gulf of Mexico, however, it must expand its ports and their accompanying infrastructure. In this issue of Fiscal Notes, we examine the canal’s expansion and the impact it could have […]

Comptroller Glenn Hegar Distributes $620 Million in Monthly Sales Tax Revenue to Local Governments

Texas Comptroller Glenn Hegar

Texas Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose taxing districts $620.2 million in local sales tax allocations for April, 4.9 percent more than in April 2016. These allocations are based on sales made in February by businesses that report tax monthly. “The cities of Houston, San Antonio, Dallas and Austin saw noticeable increases in sales tax allocations,” Hegar said. “The cities of Sugar Land, McAllen, Irving and […]