When the Legislature convenes in January, it will have $11.5 billion less to work with than projected last October. According to Comptroller Glenn Hegar, as things now stand the state will have a $4.8 billion shortfall at the end of the current fiscal biennium. Last October, the Comptroller projected that the state would end the 20-21 biennium with $2.9 billion. He emphasized, however, that circumstances are in flux and could change the estimate between now and next spring. He cautioned that the economic effects of the current crisis would likely persist beyond next year. A link to the Comptroller’s comments can be found below. The LBB has also released the attached chart explaining the revised estimate.