NEWS
Comptroller moves money from Rainy Day Fund to State Highway Fund
Texas Comptroller Glenn Hegar announced today he recently completed the transfer of more than $2.91 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received nearly $1.46 billion, or 50 percent of the total transfer.
“The Rainy Day Fund and the State Highway Fund are key components of Texas’ long-term economic success and help provide the foundation needed for our future growth,” Hegar said. “Texas is experiencing a strong economic recovery, and our population continues to boom as more and more people and businesses seek out the jobs and opportunities created here in Texas. It is critical that we continue to invest in the infrastructure needed to maintain our fiscal health and keep our economy growing while at the same time acknowledging the uncertainty that remains and setting aside dollars to ensure we are able to weather future downturns.”
The transfer amounts are based on crude oil and natural gas production tax revenues in excess of 1987 collections. If either tax generates more revenue than the 1987 threshold, an amount equal to 75 percent of the excess is transferred.
In November 2014, voters approved a constitutional amendment allocating at least half of these severance taxes to the ESF, with the remainder going to the SHF for use on non-toll highway construction, maintenance and right-of-way acquisition.
According to the Texas Constitution, the ESF transfer must occur within 90 days after the end of the fiscal year. When fiscal 2021 ended on Aug. 31, the ESF balance was $10.3 billion.
With this most recent transfer, the new balance will be about $11.4 billion, not accounting for currently outstanding spending authority of approximately $1.43 billion. The balance in the ESF will change as agencies spend down this remaining appropriation authority and investment earnings are realized.
The new Dollar General Market in Sunset is now open at 325 State Highway 101.
The new DG Market store format features an expanded selection of fresh meats, fruits and vegetables, as well as the same categories, brands and products customers trust Dollar General to carry.
“We are excited to provide Sunset residents with our new DG Market format and look forward to welcoming customers to our new location,” said Matthew Simonsen, Dollar General’s senior vice president of real estate and store development. “At Dollar General, we are committed to serving our customers with a pleasant shopping experience and strive to be a good corporate citizen. The new DG Market format will provide the Sunset community with closer access to fresh and healthier foods and a convenient location to purchase the items they want and need at everyday low prices. We hope our customers will enjoy the new store.”
Read the full story in the mid-week Bowie News.
By BARBARA GREEN
[email protected]
The Nocona Chamber of Commerce was in “Full Bloom” Monday night as its celebrated the past year and welcomed new officers and directors for the new term.
Following the floral them of “In Full Bloom,” the banquet tables were colorfully decorated by members using spring colors and flowers or promoting their own business.
Chamber Board President Emory Roden, entering the second year of a two-year term, brought the welcome, followed by Emily Carminati, executive director, who introduced the new officers that include Roden, Susie Grant as vice president, Bob Taylor as treasurer and Heather Morris, secretary. Board members are Amber Harper, Becky Fenoglio-Hankamer, Corissa Miller, Donna Lemons, Glenda Womble, Jason Castle, Jodi Womble, Kristal Ferguson, Mandy Kirkpatrick, Marie Molsbee and Monica Sterling.
Roden presented the Citizen of the Year award, which he said this year was instead going to a pair of citizens who kept being mentioned during the nomination process. The award went to Nellann McBroom and Dennis McBroom for their efforts to improve and support Nocona.
Read the full story in the mid-week Bowie News.
Pictured at the top: Dennis and Nellann McBroom received the Citizens of the Year Award presented by Nocona Chamber President Emory Roden. (News photo by Barbara Green)
One person went to the Bowie emergency room following this accident on U.S. Highway 81 and Applegate Road at 2:52 p.m. Wednesday. Department of Public Safety officers report a truck tractor tanker was north bound on Hwy 81 driven by Michael Logan, 57, Duncan, OK. A passenger car moved into the left lane to pass the truck and Logan reportedly tapped his brakes, that locked up causing him to jack-knife across the highway. As the tanker crossed into oncoming traffic a southbound Dodge Ram 2500 pickup driven by Bradley Werner, 49, Lavaca, AZ struck the tanker. Werner was transported by Bowie EMS to the ER with undisclosed injuries. Texas Department of Transportation crews arrived on the scene to assist while debris and vehicles were removed from the highway. (Photo by Barbara Green)
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