LUBBOCK, TX (KCBD) - Good news for Texas Tech, and the 13,000 people who work there. The State Senate passed its version of the state budget for the next two years. It includes what the senate calls an increase in "formula funding." That means Texas will provide more money on a per student basis to Texas Tech. Here's State Senator Robert Duncan in his weekly radio address.
"With the additional funds we have appropriated to higher education, Texas Tech will receive an additional $14.7 million over the next biennium. Angelo State will receive approximately $3 million, more in formula funding, during the next biennium. Those are significant increases."
This is not quite a done deal. The increase in Texas Tech funding still has to go to the State House and the Governor for approval.
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