The Legislative Budget Board (LBB) today adopted the growth rate at the Comptroller’s recommended 8.92 percent, the lowest rate of growth since the spending cap was enacted by a constitutional amendment in 1978. This spending limit does not alter, amend or repeal the “pay-as-you-go” provision of the Texas Constitution. For the 81st Session, the LBB had adopted a slightly higher growth rate of 9.14 percent.
A grand total of $87.3 billion in 2010-11 biennial appropriations is estimated with an estimated $71.7 billion of that total, financed out of tax revenue dedicated by the State Constitution, according to the LBB technical memo.
LBB document estimates on spending limit growth rate: http://www.lbb.state.tx.us/Notice/Spending_Limit_Growth_Rate_Update_110910%20.pdf
LBB technical memo: http://www.lbb.state.tx.us/Notice/Technical_Memo_1110.pdf
