FOR IMMEDIATE RELEASE 09/20/2016
REPRESENTATIVE SARAH DAVIS NAMED CHAIR OF JOINT FISCAL COMMITTEE
AUSTIN – Texas House Speaker Joe Straus made appointments Tuesday to the Select Committee to Determine a Sufficient Balance of the Economic Stabilization Fund. This committee was created out of the legislatures steadfast interest of maintaining a conservative and sufficient balance in the State's "Rainy Day Fund".
"I am honored to serve as Chair of this vital fiscal committee, tasked with ensuring our economic stabilization fund remains at a level that will aid in Texas' financial success," says Davis. "I have had the honor of serving on the Appropriations Committee for many years and will use my experience as a guide for this committee."
The purpose of the committee is to determine and adopt for the next biennium a sufficient balance of the Economic Stabilization Fund. The committee, created during the 2013 legislative session, consists of five Members of the House and five Members of the Texas Senate.
“Representative Davis and the other members of this committee will represent the House well,” Speaker Straus said. “They will help ensure that we meet the state’s needs within a disciplined budget that keeps an appropriate amount of money in reserves. I want to thank these Members for stepping forward and I look forward to their leadership.”
The Economic Stabilization Fund is projected to have a balance of $10.4 billion at the end of the current budget cycle in August 2017. The Comptroller officially certifies the amount in the fund prior to session.