Bill Analysis
House Bill 915 would amend Chapter 403 of the Government Code related to the Comptroller of Public Accounts to add a requirement under Subchapter I regarding quarterly state financial condition reports.
House Bill 915 would require the comptroller to prepare a quarterly financial report to be submitted to the governor, the legislature, and the Legislative Budget Board not later than the last day of the moth following the last day of each state fiscal quarter.
The reports would have to include:
- the total net revenue collected for the state fiscal year as of the end of the most recent state fiscal quarter from all revenue sources included in determining the estimate of anticipated revenues for the purpose of the most recent calculation of the limitation on appropriations,
- a comparison on this first figure with the anticipated revenues calculated for the purpose of the limitation on appropriations,
- a summary of indicators of state economic trends since the last estimate of anticipated revenues and anticipated state economic trends and their effect on future state revenue collections,
- based on the information collected above, revised projections for the current state fiscal biennium regarding revenue collections.
The reports would have to provide an aggregated summary for all state revenue sources. The comptroller would not have to prepare a second report when a similar one is required to be submitted in December of each even-numbered year.
The reports would have to be available on the comptroller's website.
Vote Recommendation Notes
House Bill 915 would require quarterly updates from the comptroller of public accounts in respect to the total net revenue collected for the state fiscal year from all revenue sources included in determining the estimate of anticipated revenues for the purpose of the most recent calculation of the limitation on appropriations, and revised projections for the current state fiscal biennium regarding revenue collections. We remain neutral.
