It's a little tricky, but in Texas passing a counterfeit bill falls under the "Forgery" statute, and it is a Third Degree Felony carrying 2 to 10 years. The only way you can get to 80 years is if he had been "enhanced" with two prison stints in his past (that occurred at different times.) Throw in some pending thefts, and he's not a very sympathetic character. But 80 years? Sheesh.
Most stories on this say he will be eligible for parole in 15 years. Actually, he'll be eligible once his real time and his good conduct time equals 15 years. Edit: The statute reads 1/4 of his sentence or 15 years, whichever is less.
(But I'm more surprised you can buy two hot dogs, two cokes, and popcorn for $20 in a theater. The prices are normally the crime that is being committed.)