February 13, 2015
By Paul K. Emerson, TAC State Financial Analyst
To understand the fiscal impact of the proposed state budgets (House Bill 1 and Senate Bill 2) filed last week, the TAC County Information Program (CIP) has prepared a 30 page report that compares HB 1 and SB 2 with the current state budget for fiscal years 2014-15. The document pays special attention to those county-related elements of the budget.
Overall, both proposed bills are similar in terms of how much money to spend – HB 1 totals $202.4 billion and SB 2 totals $205.1 billion for the upcoming biennium (2016-17). The only significant difference between the proposed budgets is that SB 2 sets aside $4 billion for tax relief and adds $418 million more than HB 1 for border security. In terms of general revenue, HB 1 proposes to use $98.8 billion, while SB 2 proposes using $101.4 billion. The amount of general revenue used by both bills is somewhat lower than what is available according to the Comptroller’s Office.
Within the report, each local program is listed under a particular agency followed by a short description explaining the purpose of the program. Below the explanation is a comparison table showing the differences between HB 1 and SB 2. Included in the description is a brief comment noting how each program fared within the proposed budgets. The report also includes the Legislative Budget Estimates (LBE), which shows amounts expended by each agency beginning in fiscal years 2013, followed by estimated amounts for fiscal years 2014-15 – the current budget year. The LBE also shows each agency’s legislative appropriations request for the upcoming biennium (2016-17), which is not included in the CIP budget summary report.
Expect frequent updates as CIP continues to monitor the state budget over the next several months.
For more information, contact Paul Emerson, TAC state financial analyst, at (800) 456-5974.