Lawmakers will return to the State Capitol for the 83rd Legislative Session tomorrow, but they already know how much money they’ll have at their disposal as they craft a budget for the next two years. 

Comptroller Susan Combs released the 2014-2015 budget estimate this morning.  She says Texas will generate $92.6 billion in revenue over the next biennium.   About $3.6 billion of that goes directly into the Rainy Day Fund.  Combined with the nearly $9 billion left over from this biennium, lawmakers will be working with an estimated $101.4 billion.

“Texas experienced a very strong rebound from a severe recession,” Combs said Monday. “The state’s robust economic recovery led to better-than-expected revenue collections in major taxes such as the sales tax, oil and natural gas production taxes and motor vehicle sales taxes. The outlook for both the economy and state revenue is for continuing expansion as the fast-growth of the economic recovery gives way to moderate, sustained growth.”   

The Rainy Day Fund currently stands at about $8.1 billion.  If no money is withdrawn, it’s expected to have about $11.8 billion by the end of 2015.