The Office of the Texas Comptroller of Public Accounts is a government agency responsible for collecting taxes and managing revenues of the state of Texas.
The agency is headed by an elected official, the state comptroller, who holds a four-year term. The current comptroller is Glenn Hegar, a former state senator. The comptroller is the state’s chief tax collector, accountant, treasurer, revenue estimator, and purchasing manager.
The Comptroller’s Office collects sales tax and then remits the local share to cities, counties, and special districts. Other duties of the agency include:
- collecting franchise tax (business tax) and other state taxes;
- producing annual financial reports on state expenditures;
- estimating future state revenues;
- receiving, allocating, and managing the state’s cash;
- awarding and managing hundreds of statewide contracts on behalf of other state agencies;
- administering a variety of programs, including the State Energy Conservation Office, Texas college savings plans, and statewide procurement initiatives; and
- providing guidance to taxpayers regarding compliance with tax laws.
The Texas Comptroller of Public Accounts also manages the Rainy Day Fund, the unclaimed property fund, and other state funds.
Finally, the comptroller also has a special responsibility at the start of each legislative session. The Texas Constitution (Article III, Section 49a) requires the comptroller to certify to the legislature the amount of available cash on hand and anticipated revenues for the next two years.
That amount of money is the maximum that the Legislature is permitted to appropriate, except in cases of emergency and then only with a four-fifths vote of both chambers.
Recent News Coverage
Comptroller Now Expects Texas to Emerge From Pandemic With Budget Surplus, May 3, 2021
Despite Pandemic and Oil Rout, Texas’ Reserve Fund Still Tops $10 Billion, November 24, 2020
Forgotten Bank Account? Unclaimed Property Program Returns $300 Million to Texans, September 18, 2020
