AUSTIN (AP) -- Texas lawmakers today find out how much money they'll have to spend in the next budget period as the state faces a slowing economy.
The funding announcement will come from Comptroller Susan Combs in Austin.
The 81st Legislature convenes tomorrow for its 140-day session.
The state budget is $167 billion for the current two-year period.
Lawmakers also face dealing with devastation from September's Hurricane Ike.
State officials previously estimated Texas would have a surplus of nearly $11 billion. The so-called surplus is made up of three parts:
- $5.7 billion in the Rainy Day Fund from taxes that companies pay for producing oil and gas.
- $3 billion set aside two years ago to give to schools to make up for property tax cuts.
- $2 billion left over for discretionary spending by legislators.
(Copyright ©2009 by The Associated Press. All Rights Reserved.)
