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Relating to the determination of the sufficient balance of the economic stabilization fund for purposes of allocating general revenue to that fund and the state highway fund.
Relative to current law the bill would create a significant revenue gain to the State Highway
Fund and a corresponding revenue loss to the Economic Stabilization Fund in fiscal year
2026 through fiscal year 2035.
Certain portions of the Government Code related to allocation of severance taxes to the Economic Stabilization Fund (ESF) and State Highway Fund, and the determination of a sufficient balance of the ESF, are scheduled to expire December 31, 2024. SB 962 would extend sunset for those provisions to December 31, 2034.