State to Generate Surplus for General Revenue Fund
STATE OF TEXAS
State Comptroller Susan Combs announced on Monday that the state will generate $92.6 billion dollars for the general revenue for the years of 2014 and 2015. It represents a major jump in tax collection from the last two year budget cycle with the information coming a day before the 83rd Legislature convenes. It was also reported that the state has a revenue surplus of $8.8 billion dollars with $3.6 billion dollars going to the "Rainy Day Fund" and both Governor Perry and the Lieutenant Governor will limit any increase in state spending to a sum of population growth plus inflation.