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November 30, 2018      5:27 PM

Updated: Lawmakers stick to $7.5B as sufficient balance for Rainy Day Fund, freeing up excess funds for investment

A select committee has voted to maintain $7.5 billion as the sufficient balance of the Rainy Day Fund, opening the door for Comptroller Glenn Hegar to invest additional funds.

The state’s Economic Stabilization Fund, or ESF, currently is sitting at a balance of $12.5 billion, the highest balance ever in the fund’s 30-year history. The concept of the “sufficient balance” – and the creation of a committee to determine that amount – occurred with the voters’ decision to send a portion of so-called excess funds to state transportation projects.

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