BIENNIAL REVENUE ESTIMATE REVENUE VOLATILITY January 2017 Glenn - PowerPoint PPT Presentation

BIENNIAL REVENUE ESTIMATE REVENUE VOLATILITY January 2017 Glenn Hegar Texas Comptroller of Public Accounts

Revenue Available for REVENUE VOLATILITY General Purpose Spending BIENNIAL REVENUE ESTIMATE 2018-19 2016-17 General Revenue-Related (GR-R) + $61.97 In Billions of Dollars $56.83 Revenues from Sales Taxes (Before allocation to State Highway Fund) – $4.71 $0.0 In 2015, Sales Taxes Allocated to State Highway Fund voters = $57.26 Net GR-R Revenues from Sales Taxes $56.83 SUBTOTAL approved Proposition 7, which + $49.21 $45.61 Other GR-R Revenues requires the Comptroller = $106.47 $102.45 SUBTOTAL Total GR-R Revenues to direct some tax revenues to + $1.53 $7.29 Beginning Fund Balances the State Highway = $108.00 Total GR-R Revenue SUBTOTAL $109.73 Fund & Fund Balances starting in Revenue Reserved for Transfers – fiscal 2018. $3.13 $2.0 to the Economic Stabilization and State Highway Funds = $107.73 Total Revenue Available for $104.87 TOTAL General Purpose Spending Note: Totals may not sum due to rounding. Glenn Hegar Texas Comptroller of Public Accounts

Sources of General Revenue-Related Revenues for 2018-19 BIENNIAL REVENUE ESTIMATE STATE TAX REVENUES 9.3% Motor Vehicle Sales & Rental Taxes 4.4% Oil Production Tax Sales Taxes 5.6% 53.8% Franchise Tax 1.6% Natural Gas Production Tax 1.8% Motor Fuel Taxes 10.5% All Other State Taxes OTHER REVENUES Fees, Investments & 13.0% Other Non-Tax Revenue Glenn Hegar Texas Comptroller of Public Accounts

Annual Net Sales Tax Collections BIENNIAL REVENUE ESTIMATE All Funds General Revenue-Related Funds $32 $28 $24 $20 $16 $12 $8 $4 $0 In Billions of Dollars 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Projected Glenn Hegar Texas Comptroller of Public Accounts

Annual Net Sales Tax Collections BIENNIAL REVENUE ESTIMATE All Funds General Revenue-Related Funds $32 $28 $24 $20 $16 $12 $8 $4 $0 In Billions of Dollars 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Projected Glenn Hegar Texas Comptroller of Public Accounts

Annual Net Sales Tax Collections / Mining BIENNIAL REVENUE ESTIMATE $1.8 $1.80 $1.76 $1.6 $1.64 $1.64 $1.4 $1.2 $1.0 $1.04 $0.8 $.85 $.81 $.77 $0.6 $.68 $.60 $0.4 $.48 $.29 $0.2 $.21 $0 In Billions of Dollars 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Glenn Hegar Texas Comptroller of Public Accounts