Texas' rainy day fund will be almost $1 billion lighter than expected, that's according to a report released last week by Texas Comptroller Susan Combs.

According to the Austin American Statesman Combs revised her estimate for the rainy day fund to $8.2 billion, which is down from her January projection of $9.1 billion. Falling natural gas prices is being blamed as the main reason. The falling prices will lead to less production meaning less tax revenue.

The money in the rainy day fund was expected to plug some of the budget hole that is expected to greet legislators when they return in August of 2011.

Legislators intentionally left that fund alone when writing the current two-year budget in anticipation of harder times down the road.