In a Long But Not Lost Weedend, Texas Budget Writers Get It Done

Albanese, Elizabeth
May 2003
Bond Buyer;5/28/2003, Vol. 344 Issue 31644, p1
Trade Publication
Texas budget writers worked through the holiday weekend to craft a final version of the state's 118 billion dollar budget for 2004. The proposed budget was drafted in the wake of a predicted 9.9 billion dollar revenue shortfall, but legislators managed to close the deficit by making deductions in spending for many health and human service programs, fee increases, payment adjustments, and utilizing the state's 1 billion dollar rainy-day fund. The budget measure increases the state's spending for public education for the coming biennium by 1.2 billion dollar. A proposal that would have allowed the Texas Transportation Commission to issue up to 10 billion dollar of grant anticipation revenue vehicle debt decline during 2003, as did a bill that would have partially funded the Texas Mobility Fund, which was approved by the 2001 Legislature to back bonds for highway projects.


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