Highway fund, Rainy Day fund receive hefty infusions
AUSTIN — State Comptroller Glenn Hegar on Nov. 29 announced the transfer of $1.47 billion into the State Highway Fund and the Economic Stabilization Fund, with $734 million going into each fund.
The transfer was enabled by Texas voters, who in the November 2014 constitutional amendment election passed a measure allocating at least half of the state’s oil and gas production severance taxes to the “Rainy Day Fund” and the remainder to the State Highway Fund for use on non-toll highway construction, maintenance and right-of-way acquisitions.
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