How Much will Texas Lawmakers Have to Spend?

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The Texas Legislature convenes today in Austin as lawmakers try to figure out how much money to spend -- on what.

Comptroller Susan Combs says legislators will have about 82 and a-half (B) billion dollars in state revenue available for the 2008-09 biennium.

That represents 14-point-three (B) billion dollars over the current 68-point-two (B) billion dollar state budget.

Lawmakers are required to write a two-year state spending plan in their 140-day regular session.

By law, the comptroller must tell lawmakers how much money is available to spend.

Combs estimates about 87 percent of the revenue over the budget cycle will come from taxes.

The remaining funds are expected from sources such as fees, interest earnings and lottery proceeds.