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Data Center · Debt explorer

State debt by issuer and program

State agencies, universities and statewide issuers owed $77.05 billion in principal outstanding at the end of fiscal year 2025 ($77,051,105,337): $16.21 billion tax supported and $60.84 billion revenue supported, owed by 24 issuers. State figures are at the state's fiscal year end. Computed here from BRB's tables: Debt Outstanding By Issuance State By Year, updated by BRB 10/6/2026, loaded here 10/8/2026.

Showing state debt, fiscal year 2025. State issuers are not placed in counties. How these figures are made.

Tax supported and revenue supported, by fiscal year

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State principal outstanding at each fiscal year end, stacked by pledge; the table below gives the figures.$49.8 billion2016$53.0 billion2017$56.8 billion2018$59.9 billion2019$62.4 billion2020$63.2 billion2021$64.4 billion2022$70.9 billion2023$73.0 billion2024$77.1 billion2025
2016: $49.8 billion; 2025: $77.1 billion
  • Tax supported
  • Revenue supported
State principal outstanding by pledge and fiscal year
Fiscal year?Tax supported?% of total?Revenue supported?% of total?Total principal outstanding?
2025$16,213,495,00021.0%$60,837,610,33779.0%$77,051,105,337
2024$16,611,730,00022.7%$56,421,216,29877.3%$73,032,946,298
2023$17,337,890,00024.4%$53,601,634,00275.6%$70,939,524,002
2022$17,288,410,00026.8%$47,114,895,80473.2%$64,403,305,804
2021$17,606,774,00027.9%$45,607,386,21072.1%$63,214,160,210
2020$18,005,828,00028.8%$44,433,813,23771.2%$62,439,641,237
2019$18,138,727,12930.3%$41,765,142,04369.7%$59,903,869,172
2018$18,589,410,34932.7%$38,244,069,75667.3%$56,833,480,105
2017$18,683,045,75535.2%$34,341,191,06464.8%$53,024,236,819
2016$18,266,858,56036.7%$31,483,148,87463.3%$49,750,007,434

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State principal outstanding by pledge and fiscal year
Fiscal year?Tax supported?% of total?Revenue supported?% of total?Total principal outstanding?
2025$16,213,495,00021.0%$60,837,610,33779.0%$77,051,105,337
2024$16,611,730,00022.7%$56,421,216,29877.3%$73,032,946,298
2023$17,337,890,00024.4%$53,601,634,00275.6%$70,939,524,002
2022$17,288,410,00026.8%$47,114,895,80473.2%$64,403,305,804
2021$17,606,774,00027.9%$45,607,386,21072.1%$63,214,160,210
2020$18,005,828,00028.8%$44,433,813,23771.2%$62,439,641,237
2019$18,138,727,12930.3%$41,765,142,04369.7%$59,903,869,172
2018$18,589,410,34932.7%$38,244,069,75667.3%$56,833,480,105
2017$18,683,045,75535.2%$34,341,191,06464.8%$53,024,236,819
2016$18,266,858,56036.7%$31,483,148,87463.3%$49,750,007,434

By issuer, fiscal year 2025

Download CSV Every issuer, every year (CSV)
The ten largest state issuers by principal outstanding; the table below gives every issuer.University of Texas System: $13.8billionTexas Transportation Commission:$13.0 billionTexas Water Development Board: $12.1billionTexas A&M University System: $5.4billionTexas Transportation CommissionGrand Parkway TransportationCorporation: $4.5 billionTexas Public Finance Authority: $4.1billionTexas Natural Gas SecuritizationFinance Corporation: $3.3 billionTexas Department of Housing andCommunity Affairs SF: $3.3 billionTexas Transportation CommissionPrivate Activity Bond SurfaceTransportation Corporation: $3.1billionTexas Veterans Land Board: $3.0billion
State issuers by principal outstanding
Issuer?Tax supported?Revenue supported?Total principal outstanding?Change since FY 2016?
University of Texas SystemIssuerTax supportedNot reportedRevenue supported$13,782,900,000Total principal outstanding$13,782,900,000Change since FY 2016+45.4%
Texas Transportation CommissionIssuerTax supported$7,957,050,000Revenue supported$5,077,586,600Total principal outstanding$13,034,636,600Change since FY 2016−19.4%
Texas Water Development BoardIssuerTax supported$940,725,000Revenue supported$11,136,820,000Total principal outstanding$12,077,545,000Change since FY 2016+225.7%
Texas A&M University SystemIssuerTax supportedNot reportedRevenue supported$5,444,341,019Total principal outstanding$5,444,341,019Change since FY 2016+60.4%
Texas Transportation Commission Grand Parkway Transportation CorporationIssuerTax supportedNot reportedRevenue supported$4,452,959,856Total principal outstanding$4,452,959,856Change since FY 2016+53.5%
Texas Public Finance AuthorityIssuerTax supported$2,901,280,000Revenue supported$1,237,655,000Total principal outstanding$4,138,935,000Change since FY 2016+32.1%
Texas Natural Gas Securitization Finance CorporationIssuerTax supportedNot reportedRevenue supported$3,308,860,171Total principal outstanding$3,308,860,171Change since FY 2016Not reported
Texas Department of Housing and Community Affairs SFIssuerTax supportedNot reportedRevenue supported$3,301,468,300Total principal outstanding$3,301,468,300Change since FY 2016+533.1%
Texas Transportation Commission Private Activity Bond Surface Transportation CorporationIssuerTax supportedNot reportedRevenue supported$3,064,440,000Total principal outstanding$3,064,440,000Change since FY 2016+96.2%
Texas Veterans Land BoardIssuerTax supported$3,017,050,000Revenue supportedNot reportedTotal principal outstanding$3,017,050,000Change since FY 2016+8.4%
University of Houston SystemIssuerTax supportedNot reportedRevenue supported$1,825,795,000Total principal outstanding$1,825,795,000Change since FY 2016+73.0%
Texas Transportation Commission Transportation Finance CorporationIssuerTax supportedNot reportedRevenue supported$1,731,730,721Total principal outstanding$1,731,730,721Change since FY 2016Not reported
Texas Department of Housing and Community Affairs MFIssuerTax supportedNot reportedRevenue supported$1,485,215,934Total principal outstanding$1,485,215,934Change since FY 2016+55.0%
Texas State University SystemIssuerTax supportedNot reportedRevenue supported$1,396,935,057Total principal outstanding$1,396,935,057Change since FY 2016+73.7%
Texas Higher Education Coordinating BoardIssuerTax supported$1,394,475,000Revenue supportedNot reportedTotal principal outstanding$1,394,475,000Change since FY 2016+51.5%
Texas Tech University SystemIssuerTax supportedNot reportedRevenue supported$1,112,927,000Total principal outstanding$1,112,927,000Change since FY 2016+82.4%
University of North Texas SystemIssuerTax supportedNot reportedRevenue supported$901,038,386Total principal outstanding$901,038,386Change since FY 2016+67.1%
Texas State Affordable Housing Corporation MFIssuerTax supportedNot reportedRevenue supported$536,090,022Total principal outstanding$536,090,022Change since FY 2016+223.1%
Texas State Technical CollegeIssuerTax supported$2,915,000Revenue supported$415,111,195Total principal outstanding$418,026,195Change since FY 2016+256.2%
Texas Woman's UniversityIssuerTax supportedNot reportedRevenue supported$218,425,000Total principal outstanding$218,425,000Change since FY 2016+163.7%
Stephen F. Austin State UniversityIssuerTax supportedNot reportedRevenue supported$154,775,093Total principal outstanding$154,775,093Change since FY 2016+86.3%
Texas State Affordable Housing Corporation SFIssuerTax supportedNot reportedRevenue supported$144,085,000Total principal outstanding$144,085,000Change since FY 2016+90.6%
Texas Public Finance Authority Charter School Finance CorporationIssuerTax supportedNot reportedRevenue supported$106,300,000Total principal outstanding$106,300,000Change since FY 2016−35.0%
Midwestern State UniversityIssuerTax supportedNot reportedRevenue supported$2,150,983Total principal outstanding$2,150,983Change since FY 2016Not reported
TotalTax supported$16,213,495,000Revenue supported$60,837,610,337Total principal outstanding$77,051,105,337Change since FY 2016+54.9%

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State issuers by principal outstanding
Issuer?Tax supported?Revenue supported?Total principal outstanding?Change since FY 2016?
University of Texas SystemIssuerTax supportedNot reportedRevenue supported$13,782,900,000Total principal outstanding$13,782,900,000Change since FY 2016+45.4%
Texas Transportation CommissionIssuerTax supported$7,957,050,000Revenue supported$5,077,586,600Total principal outstanding$13,034,636,600Change since FY 2016−19.4%
Texas Water Development BoardIssuerTax supported$940,725,000Revenue supported$11,136,820,000Total principal outstanding$12,077,545,000Change since FY 2016+225.7%
Texas A&M University SystemIssuerTax supportedNot reportedRevenue supported$5,444,341,019Total principal outstanding$5,444,341,019Change since FY 2016+60.4%
Texas Transportation Commission Grand Parkway Transportation CorporationIssuerTax supportedNot reportedRevenue supported$4,452,959,856Total principal outstanding$4,452,959,856Change since FY 2016+53.5%
Texas Public Finance AuthorityIssuerTax supported$2,901,280,000Revenue supported$1,237,655,000Total principal outstanding$4,138,935,000Change since FY 2016+32.1%
Texas Natural Gas Securitization Finance CorporationIssuerTax supportedNot reportedRevenue supported$3,308,860,171Total principal outstanding$3,308,860,171Change since FY 2016Not reported
Texas Department of Housing and Community Affairs SFIssuerTax supportedNot reportedRevenue supported$3,301,468,300Total principal outstanding$3,301,468,300Change since FY 2016+533.1%
Texas Transportation Commission Private Activity Bond Surface Transportation CorporationIssuerTax supportedNot reportedRevenue supported$3,064,440,000Total principal outstanding$3,064,440,000Change since FY 2016+96.2%
Texas Veterans Land BoardIssuerTax supported$3,017,050,000Revenue supportedNot reportedTotal principal outstanding$3,017,050,000Change since FY 2016+8.4%
University of Houston SystemIssuerTax supportedNot reportedRevenue supported$1,825,795,000Total principal outstanding$1,825,795,000Change since FY 2016+73.0%
Texas Transportation Commission Transportation Finance CorporationIssuerTax supportedNot reportedRevenue supported$1,731,730,721Total principal outstanding$1,731,730,721Change since FY 2016Not reported
Texas Department of Housing and Community Affairs MFIssuerTax supportedNot reportedRevenue supported$1,485,215,934Total principal outstanding$1,485,215,934Change since FY 2016+55.0%
Texas State University SystemIssuerTax supportedNot reportedRevenue supported$1,396,935,057Total principal outstanding$1,396,935,057Change since FY 2016+73.7%
Texas Higher Education Coordinating BoardIssuerTax supported$1,394,475,000Revenue supportedNot reportedTotal principal outstanding$1,394,475,000Change since FY 2016+51.5%
Texas Tech University SystemIssuerTax supportedNot reportedRevenue supported$1,112,927,000Total principal outstanding$1,112,927,000Change since FY 2016+82.4%
University of North Texas SystemIssuerTax supportedNot reportedRevenue supported$901,038,386Total principal outstanding$901,038,386Change since FY 2016+67.1%
Texas State Affordable Housing Corporation MFIssuerTax supportedNot reportedRevenue supported$536,090,022Total principal outstanding$536,090,022Change since FY 2016+223.1%
Texas State Technical CollegeIssuerTax supported$2,915,000Revenue supported$415,111,195Total principal outstanding$418,026,195Change since FY 2016+256.2%
Texas Woman's UniversityIssuerTax supportedNot reportedRevenue supported$218,425,000Total principal outstanding$218,425,000Change since FY 2016+163.7%
Stephen F. Austin State UniversityIssuerTax supportedNot reportedRevenue supported$154,775,093Total principal outstanding$154,775,093Change since FY 2016+86.3%
Texas State Affordable Housing Corporation SFIssuerTax supportedNot reportedRevenue supported$144,085,000Total principal outstanding$144,085,000Change since FY 2016+90.6%
Texas Public Finance Authority Charter School Finance CorporationIssuerTax supportedNot reportedRevenue supported$106,300,000Total principal outstanding$106,300,000Change since FY 2016−35.0%
Midwestern State UniversityIssuerTax supportedNot reportedRevenue supported$2,150,983Total principal outstanding$2,150,983Change since FY 2016Not reported
TotalTax supported$16,213,495,000Revenue supported$60,837,610,337Total principal outstanding$77,051,105,337Change since FY 2016+54.9%

By program, fiscal year 2025

Download CSV Every program, every year (CSV)
The ten largest state programs by principal outstanding; the table below gives every program.College and University Bonds: $19.6billionTWDB SWIRFT Bonds: $9.6 billionTXDOT TTC Mobility Fund Bonds: $5.2billionGrand Parkway Transportation Corp:$4.5 billionUTS PUF Bonds: $4.2 billionTx Natural Gas SecuritizationFinance Corp: $3.3 billionTDHCA Single Family: $3.3 billionTexas PAB Surface TransportationCorp: $3.1 billionVLB Land and Housing Bonds: $3.0billionTTC GO Transportation Bonds: $2.8billion
State principal outstanding by program
Program?Tax supported?Revenue supported?Total?Share of total?
College and University BondsNot reported$19,584,933,733$19,584,933,73325.42%
TWDB SWIRFT BondsNot reported$9,574,870,000$9,574,870,00012.43%
TXDOT TTC Mobility Fund Bonds$5,152,205,000Not reported$5,152,205,0006.69%
Grand Parkway Transportation CorpNot reported$4,452,959,856$4,452,959,8565.78%
UTS PUF BondsNot reported$4,216,325,000$4,216,325,0005.47%
Tx Natural Gas Securitization Finance CorpNot reported$3,308,860,171$3,308,860,1714.29%
TDHCA Single FamilyNot reported$3,301,468,300$3,301,468,3004.28%
Texas PAB Surface Transportation CorpNot reported$3,064,440,000$3,064,440,0003.98%
VLB Land and Housing Bonds$3,017,050,000Not reported$3,017,050,0003.92%
TTC GO Transportation Bonds$2,804,845,000Not reported$2,804,845,0003.64%
TXDOT Toll Revenue BondsNot reported$2,768,696,600$2,768,696,6003.59%
TXDOT State Highway FundNot reported$2,308,890,000$2,308,890,0003.00%
Cancer Prevention and Research Institute of Texas$2,128,675,000Not reported$2,128,675,0002.76%
TXDOT TFCNot reported$1,731,730,721$1,731,730,7212.25%
TAMUS PUF BondsNot reported$1,628,020,000$1,628,020,0002.11%
TWDB SRFNot reported$1,561,950,000$1,561,950,0002.03%
TDHCA MultifamilyNot reported$1,485,215,934$1,485,215,9341.93%
THECB College Student Loan Bonds$1,394,475,000Not reported$1,394,475,0001.81%
TPFA GO NSS Bonds$758,610,000Not reported$758,610,0000.98%
TWDB Water Development Bonds$727,500,000Not reported$727,500,0000.94%
TPFA Bonds REV NSSNot reported$593,780,000$593,780,0000.77%
TSAHC Multifamily ProgramsNot reported$536,090,022$536,090,0220.70%
TPFA Bonds REV SSNot reported$270,385,000$270,385,0000.35%
TPFA MLPP CPNot reported$198,610,000$198,610,0000.26%
TWDB EDAP$189,135,000Not reported$189,135,0000.25%
TSAHC Single Family ProgramsNot reported$144,085,000$144,085,0000.19%
TPFA Charter School Finance CorpNot reported$106,300,000$106,300,0000.14%
TWDB Water Development Bonds - SP (SS)$24,090,000Not reported$24,090,0000.03%
TPFA TMPC, GO, SS$13,995,000Not reported$13,995,0000.02%
HEAF Bonds$2,915,000Not reported$2,915,000Under 0.01%
Total$16,213,495,000$60,837,610,337$77,051,105,337100.00%

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State principal outstanding by program
Program?Tax supported?Revenue supported?Total?Share of total?
College and University BondsNot reported$19,584,933,733$19,584,933,73325.42%
TWDB SWIRFT BondsNot reported$9,574,870,000$9,574,870,00012.43%
TXDOT TTC Mobility Fund Bonds$5,152,205,000Not reported$5,152,205,0006.69%
Grand Parkway Transportation CorpNot reported$4,452,959,856$4,452,959,8565.78%
UTS PUF BondsNot reported$4,216,325,000$4,216,325,0005.47%
Tx Natural Gas Securitization Finance CorpNot reported$3,308,860,171$3,308,860,1714.29%
TDHCA Single FamilyNot reported$3,301,468,300$3,301,468,3004.28%
Texas PAB Surface Transportation CorpNot reported$3,064,440,000$3,064,440,0003.98%
VLB Land and Housing Bonds$3,017,050,000Not reported$3,017,050,0003.92%
TTC GO Transportation Bonds$2,804,845,000Not reported$2,804,845,0003.64%
TXDOT Toll Revenue BondsNot reported$2,768,696,600$2,768,696,6003.59%
TXDOT State Highway FundNot reported$2,308,890,000$2,308,890,0003.00%
Cancer Prevention and Research Institute of Texas$2,128,675,000Not reported$2,128,675,0002.76%
TXDOT TFCNot reported$1,731,730,721$1,731,730,7212.25%
TAMUS PUF BondsNot reported$1,628,020,000$1,628,020,0002.11%
TWDB SRFNot reported$1,561,950,000$1,561,950,0002.03%
TDHCA MultifamilyNot reported$1,485,215,934$1,485,215,9341.93%
THECB College Student Loan Bonds$1,394,475,000Not reported$1,394,475,0001.81%
TPFA GO NSS Bonds$758,610,000Not reported$758,610,0000.98%
TWDB Water Development Bonds$727,500,000Not reported$727,500,0000.94%
TPFA Bonds REV NSSNot reported$593,780,000$593,780,0000.77%
TSAHC Multifamily ProgramsNot reported$536,090,022$536,090,0220.70%
TPFA Bonds REV SSNot reported$270,385,000$270,385,0000.35%
TPFA MLPP CPNot reported$198,610,000$198,610,0000.26%
TWDB EDAP$189,135,000Not reported$189,135,0000.25%
TSAHC Single Family ProgramsNot reported$144,085,000$144,085,0000.19%
TPFA Charter School Finance CorpNot reported$106,300,000$106,300,0000.14%
TWDB Water Development Bonds - SP (SS)$24,090,000Not reported$24,090,0000.03%
TPFA TMPC, GO, SS$13,995,000Not reported$13,995,0000.02%
HEAF Bonds$2,915,000Not reported$2,915,000Under 0.01%
Total$16,213,495,000$60,837,610,337$77,051,105,337100.00%

How these figures are made

Principal outstanding at the fiscal year end, summed from BRB's state debt table and computed here. The table reports each issue twice a fiscal year, in period 1 and period 2; period 2 is the fiscal year end, and only those rows are counted, as BRB's Data Center card does. The state's fiscal year runs September 1 to August 31.

  • Tax supported and revenue supported: tax supported is the debt whose pledge the table reports as tax supported; revenue supported is every other pledge. With a pledge chosen, the issuer and program tables, their totals and the headline count that pledge only; the table by fiscal year always shows both.
  • Share of total: an issuer's or program's principal as a percent of the total of the rows listed.
  • Change since fiscal year 2016: an issuer's principal at the end of fiscal year 2025 against the same figure ten fiscal years earlier, or the earliest year the tables hold when that is later, as a percent.
  • Programs are the Program field of each row the table reports. An issue whose rows name more than one program counts under each, with the principal of its rows that name it; a row with none is under "No program reported".

Not reported means the table gives no amount for that issuer, program, pledge or year. It is never shown as zero. State issuers are not placed in counties.

Sources are listed below.

EMMA links appear after review.

Source: State Issuance Fee By Year (updated by the publisher 8/27/2026); Debt Outstanding By Issuance State By Year (updated by the publisher 10/6/2026). Loaded here 10/8/2026.

Texas fiscal years run September 1 to August 31.

Issuer names are shown as BRB publishes them, spellings included.

Figures are as reported to the agency and have not been independently verified.