NEWS

Texas Comptroller Glenn Hegar transfers $5.5 billion to state highway and Rainy Day funds

Published

2 years ago

11/27/2024

(AUSTIN) — Texas Comptroller Glenn Hegar announced today he has completed the transfer of about $5.48 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received about $2.74 billion, or 50 percent of the total transfer.

“These transfers into the ESF and SHF show the Texas economy remains strong and well positioned for continued growth albeit at a much more moderate pace than what we have seen in recent years,” said Hegar. “Although inflation has come down from the historic levels reached during the current administration, uncertainty remains in the global economy as consumers continue to grapple with elevated prices on everything from groceries to home and auto insurance, and geopolitical instability persists.

“That uncertainty is why lawmakers have safeguarded the Texas Rainy Day Fund and continued to invest in our transportation infrastructure. A healthy ESF balance provides a critical cushion against any future bumps in the road and gives the Legislature increased flexibility as they convene to tackle the critical issues important to Texans.”

The combined $5.48 billion severance tax transfers to the ESF and SHF 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 and SHF transfers must occur within 90 days after the end of the fiscal year.

When fiscal 2024 ended on Aug. 31, the ESF balance was $21.02 billion. With the most recent transfers, the new ESF balance is about $23.96 billion, not accounting for currently outstanding spending authority of approximately $486 million. The balance in the ESF will change as agencies spend down this remaining appropriation authority and investment earnings are realized.

COUNTY LIFE

Montague County sees 56.1% voter turnout in midterms

Published

15 minutes ago

11/05/2026

bowienews

Montague County voters joined the rest of the state with a tremendous turnout in Tuesday’s elections.
The elections administration office reported with all 10 precincts counted a turnout of 56.01% or 8,732 casting ballots. There are 15,591 registered voters in the county.
While there were no county contested races, there were two city council and two school board elections.
The Bowie City Council has three places on the ballot. Laura Sproles, incumbent, was not challenged for her place two.
Levi Bailey won the precinct one seat with 925 votes. Valerie Thomerson received 328 votes.
In precinct three, Terry Gunter won with 1,027 votes and Glenda Durham was second with 383

Read the full story in the Thursday Bowie News.

NEWS

Nocona teen dies after apolice chase

Published

22 minutes ago

11/05/2026

bowienews

A 15-year-old Nocona boy was killed in a crash following a law enforcement pursuit just after midnight on Nov. 1.
Sgt. Aaron Brandle, public information officer with the Montague County Sheriff’s office, said the crash occurred on Nov. 1 at around 12:21 a.m.
The vehicle in the pursuit crashed in the 3600 block of Cardwell Road in Montague County. The juvenile was the sole occupant of the vehicle and was ejected as a result of the crash.
The release states responding law enforcement personnel immediately initiated life-saving measures at the scene. The juvenile was subsequently transported to Nocona General Hospital, where despite continued life-saving efforts, he was pronounced deceased.

While the authorities have not publicly identified the deceased, several community efforts have been launched to assist the family of AR “Mando” Alcantar, a sophomore at Nocona High School. Students and staff also have taken steps to remember the popular young man.

A Gofundme account also has been sent up under the name Small Town, Big Hearts – Help support the Alcantar Family. It was organized by Kelsey Cabrera.

(Top photo – AR “Mando” Alcantar)

Read the full report in the Thursday Bowie News.

The Bowie News staff apologizes for the error in spelling of the the young man’ s name in the print edition. It stated “Mondo” and that was incorrect. We did not find the error until after press time.