The following information about the Texas Economic Stabilization Fund, commonly called the "Rainy Day Fund," may be of interest. The fund was created in 1988 by the 70th Legislature to set aside state revenue for when revenue shortfalls occur.
For general information about the Rainy Day Fund, including enacting legislation, voting requirements, and constitutional provisions, please see our February 2011 post FAQs about the Economic Stabilization ("Rainy Day") Fund.
For a recent update on the fund, please see the Texas Comptroller's June 2016 report as well as the September 2016 article in Fiscal Notes.
What is the current and historical balance of the ESF?
The Economic Stabilization Fund is listed in the Texas Comptroller's Texas Annual Cash Report as fund number 0599 Economic Stabilization Fund. In fiscal year 2015, 0599 Economic Stabilization Fund had an ending balance of $8,468,905,380. The below table lists a number of data points about the fund back to 1990, including:
- Ending balance each fiscal year
- Bills that have spent (appropriated) money from the fund
- Oil and natural gas production tax revenue transferred to the fund
- Constitutional cap
Cover image by Adrianna Calvo