AUSTIN, Texas Jan 7 The Texas Legislature will
have 12.4 percent more revenue to spend in the next two budget
years because of higher-than-expected tax collections, state
Comptroller Susan Combs projected on Monday.
"Texas experienced a very strong rebound from a severe
recession," said Combs, who issued her biennial revenue estimate
a day before the Texas Legislature convenes.
Texas has a two-year budget cycle and lawmakers this session
will craft a 2014-2015 budget.
Combs forecast revenue of $101.4 billion - which the
comptroller says is 12.4 percent greater than corresponding
funds available for the current budget cycle - including $8.8
billion expected to remain at the end of the 2012-2013 budget
The state's general revenue collections are projected to be
$96.2 billion, $3.6 billion of which would be set aside for the
state's rainy-day fund.
Combs estimated that the rainy-day fund will have $8.1
billion at the end of the current budget cycle and $11.8 billion
at the end of the 2014-2015 cycle.
Collections of sales tax, oil and natural gas production
taxes and motor vehicle sales taxes have exceeded expectations,