DALLAS – A Texas legislative board unanimously adopted a growth plan Thursday that would limit increases in state spending from non-dedicated revenue to less than 11% over the next two years.

The newly adopted outlook would increase to $77.9 billion the portion of the fiscal 2014-2015 budget funded by taxes and fees not dedicated to a specific purpose. Non-dedicated spending accounts for $70.4 billion of the $173.5 billion state budget for fiscal 2012-2013.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.