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Speaker: State Comptroller, Glenn Hegar

State of Texas Economic Update
Including specific, local information on Burnet County and the Highland Lakes area.

About Glenn Hegar:

Glenn Hegar was elected the 36th Texas Comptroller of Public Accounts in November 2014. He was re-elected in 2018 and 2022. Hegar is Texas' chief financial officer — the state's treasurer, check writer, tax collector, procurement officer and revenue estimator.

Upon taking office, Hegar reorganized the agency for quicker and more effective decision-making and reduced its administrative footprint by working with the Legislature to eliminate inefficient programs and transfer others that didn’t fit core missions. Additionally, he recommended that the Legislature repeal eight taxes, six of which were administered by his agency.

Hegar is focused on his agency's constitutional duties and committed to maintaining its reputation for customer service and transparency. He believes a less-burdensome tax system will foster a better environment for job creation and business expansion, and thus a healthier Texas economy.

As CFO for the world's eighth-largest economy, Hegar monitors Texas' financial health to ensure it maintains strong fund balances. During his term in office, he has emerged as a passionate advocate for conservative financial management. He promotes fiscal transparency through his Transparency Stars program, recognizing Texas local governments that make various aspects of their finances publicly available.

Hegar has worked hard to bring public and legislative attention to long-term financial obligations facing the state, such as health care coverage for public school teachers and employees, infrastructure maintenance and state employee pensions — needs that have caused major financial difficulties in other states. He worked with the 87th Legislature to pay down pension debt, launch a new cash balance benefit retirement plan and shore up the deficit in the Texas Guaranteed Tuition Plan.

But there remain other potential risks to the state's financial health and the maintenance of its triple-A credit rating. Hegar has recommended more prudent and fiscally responsible approaches to managing the state's financial reserves since taking office, protecting Texas’ Rainy Day Fund against rising inflation.

Hegar guided the formation of the nation's first state-administered precious metals depository, which began accepting deposits on June 6, 2018, and now safeguards nearly $200 million in precious metals. Hegar forged a unique public-private partnership with a Texas-based company to create the Texas Bullion Depository, offering state-of-the-art security and top-tier customer service at no cost to the state.

Legislation passed in 2021 established the Texas Broadband Development Office (BDO), which was placed under the purview of the Comptroller’s office and solidified Hegar’s commitment to closing Texas’ digital divide. To guide the BDO’s strategic vision, Hegar seeks constant input from communities across Texas, paving the way for billions of dollars in investment to secure future economic growth, educational opportunities and health care access for all Texans.

Comptroller Hegar also undertook the creation of the Texas Opioid Abatement Fund Council following 2021 legislation related to legal claims against companies involved in the opioid crisis. Comprising 14 members and Comptroller Hegar, the Council ensures funds are allocated fairly and spent to remediate the opioid crisis in Texas using efficient, cost-effective methods.

After releasing the 2024-25 Biennial Revenue Estimate that forecast Texas’ largest budget surplus in history, Hegar was instrumental in helping the 88th Legislature manage and allocate unprecedented funding for the state’s highest priorities, including $18 billion in property tax relief, $3 billion to establish financing programs for new water supply projects and $1.5 billion for the Broadband Infrastructure Fund. Hegar’s office will also administer a grant program that provides additional resources for sheriffs, constables and prosecutors in rural Texas.

Before his election as Texas Comptroller, Hegar served in the Texas House of Representatives and Texas Senate, where he worked on a wide range of common-sense solutions to problems affecting Texans in areas such as public education, transportation, tax reform, government transparency, Second Amendment rights, water issues and tort reform. As chair of the Sunset Advisory Commission, Hegar eliminated inefficiencies in state agencies and abolished six, saving Texas taxpayers more than $160 million. In his last session as a state senator, Hegar oversaw state and local revenue matters and helped cut $1 billion worth of taxes.

Hegar is a 1993 graduate of Texas A&M University and a graduate of St. Mary's University, where he earned a Master of Arts and his law degree. At the University of Arkansas, he earned his Master of Laws.

Hegar is a sixth-generation Texan who grew up farming land that has been in his family since the mid-1800s. His upbringing taught him the core values of hard work, honesty and integrity — the same values he and his wife Dara work to instill in their three teenagers, Claire, Julia and Jonah. His most important title throughout his years of service is the one closest to home: Dad!