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Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for person(
and community safety, and our support of enhanced development and economic vitality for the benefit of Texans.
$3 Billion of Oil & Gas Tax Revenue Deposited into State's Savings Ac
Ever since it was created in 1988, the state's Rainy
Day Fund has been a vital component of the state's
budgeting process. Throughout the years lawmakers
have used the fund for disaster relief, public education,
water projects, economic development, health and
human services, and to cover a budget gap to name
a few examples of the appropriations that have been A
made from the fund.
The state's oil and gas industry is key to all that
important funding. The oil and gas production tax
makes up the majority of revenue deposited into the
Rainy Day Fund. The Texas Comptroller deposits a
calculated portion of the annual production revenue
into the fund, and this month the Comptroller made the
Fiscal Year 2024 deposit, which was $3.06 billion.
That was the second largest deposit into the Rainy Day
Fund, second only to last year's (Fiscal Year 2023), as
you see in the table below.
1) Fiscal Year 2023:
2) Fiscal Year 2024:
3)
Fiscal Year 2014:
4) Fiscal Year 2009:
5) Fiscal Year 2013:
$3.64 billion
$3.06 billion
$2.51 billion
$2.24 billion
$1.88 billion
RRC Attends Important Carbon Management Dialogue Event
RRC staff attended the Carbon Management
Dialogue event in Houston this month that
offered a wide array of presentations, panel
discussions and workshops designed to inform
and engage the public, academic community,
industry professionals, and local governments
Pipeline Permitting Specialists participated
in a panel discussion on pipeline safety,
permitting and regulations to help answer
community questions.
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