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Monday, January 30, marked the first of many public hearings on the state budget, as lawmakers try and decide how to allot a record amount of surplus cash and projected revenue. Though the comptroller has forecast as much as $188 billion in available funds, statutory and constitutional spending limits will keep the actual amount appropriated to pay for state services in 2024 and 2025 much lower. Both chambers have filed budgets that would spend $130.1 billion in discretionary state revenue. Both include $15 billion set aside for property tax relief, with the Senate earmarking $3 billion of that amount to raise the homestead exemption from $40,000 to $70,000. Governor Greg Abbott and Lt. Governor Dan Patrick have each vowed to deliver historic property tax cuts this session.