Texas Comptroller Glenn Hegar pitches Rainy Day Fund overhaul

By Jim Malewitz Comptroller Glenn Hegar, the state’s chief financial officer, wants to overhaul the way Texas socks away money for tough economic times. He’s pitching an investment strategy — the creation of an endowment of sorts — that he believes would grow the state’s savings account by billions over the decades and give lawmakers extra funds each session for often-neglected items such as funding pensions, paying down debts or fixing crumbling infrastructure like state hospitals. Hegar’s plan, made public in a TribTalk column Thursday, would reshape the state’s Economic Stabilization Fund, better known as the Rainy Day Fund. That […]

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Source: Community Impact- Round Rock