The recent deposit of $2.74 billion from oil and gas production tax revenue into the state’s Economic Stabilization Fund was the third largest deposit ever made into the fund.  The deposits comprise the major portion of funds into the state’s “rainy day” fund each fiscal year.  The only larger deposits were $3.64 billion in FY2023 and $3.06 billion last year.

Railroad Commission of Texas said the legislature has used the fund to cover costs for a variety of agencies, including emergency expenditures.  Programs that have been funded include hurricane recovery funds for school districts disbursed by the Texas Education Agency, funding for State Water Plan by the Water Development Board, and state hospital construction funds disbursed by Department of Health and Human Services.

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