Texas Comptroller Glenn Hegar today released a special edition of Fiscal Notes highlighting long-term financial obligations facing Texas state government. Prior to the 2017 legislative session, Hegar sent a letter to lawmakers outlining some of these obligations which, if left unaddressed, could negatively impact the state’s credit rating and limit the amount of revenue available for general spending.
The report examines four of these obligations:
- state employee pension funding;
- the TRS-Care program, which provides health care coverage for retired public school employees and their dependents;
- the Texas Guaranteed Tuition Plan; and
- deferred maintenance projects for state buildings.
“As a former legislator, I know too well the difficulties associated with the budgeting process, as lawmakers attempt to reconcile thousands of competing needs,” Hegar said. “Hopefully this report will be helpful as the Legislature works to put the finishing touches on the 2018-19 biennial budget. Although all of the issues discussed in this report cannot be addressed this session, it is important that Texas continues to take positive steps in each legislative session to address our long-term obligations.”
Fiscal Notes is available online and also can be received by subscribing via the Comptroller’s website.