On Thursday, the Texas House and the Texas Senate released the conference committee report for House Bill 1, which represents the state’s nearly complete budget for fiscal years 2024 and 2025. The measure now goes back to both chambers for approval.

It will take some time to fully grasp the 1,000+ page document, but a surface-level analysis of expenditure growth is telling. From the 2022-23 biennium to the 2024-25 biennium, the state’s total budget may increase by 21.4%. Spending from state sources is poised to grow by 31%. General revenue-related expenditures are set to increase by more than 20%.

To better understand how the state budget got to this point, here’s a look at the budget as it emerged from both the House and the Senate, and then came out of conference.