support vital state revenue
In the 2017 budget year, the oil production tax gave the state more than $2 billion in revenue, while the natural gas production tax brought in a little less than $1 billion. But where does this money go?
The state's savings account — technically called the Economic Stabilization Fund but known around the Capitol as the Rainy Day Fund — receives 37.5 percent.
Another 37.5 percent goes into the State Highway Fund, which is used for highway construction and maintenance and policing public roads.
The remaining 25 percent goes to the Foundation School Program, a Texas Education Agency-administered fund used for expenses such as teacher salaries, bilingual education and special education.