Proposing a constitutional amendment dedicating a portion of the revenue derived from the state sales and use tax to the Texas Water Development Fund II.
Impact
If passed, this legislation will significantly bolster funding for water infrastructure projects, particularly seawater desalination and aquifer storage and recovery projects. This constitutional amendment sets an upper limit on the fund's balance, capping it at $4 billion to ensure fiscal responsibility. Furthermore, it includes provisions allowing the legislature to modify the amount deposited under certain conditions, providing a mechanism for financial flexibility depending on the state's economic situation and water infrastructure needs.
Summary
HJR101 is a joint resolution proposing a constitutional amendment that dedicates a portion of the revenue derived from the state sales and use tax to the Texas Water Development Fund II. Specifically, the resolution mandates that each year, after the first $30.5 billion of revenue is collected, $1 billion of net revenue from the state sales and use tax shall be allocated to this fund. The intent is to secure consistent financial support for critical water development projects within Texas, addressing the state's growing water needs.
Contention
The resolution is likely to stir debate among legislators and constituents alike, as funding for infrastructure is a priority for many. Proponents argue that securing this funding is vital for sustainable water management and addressing shortages, especially as Texas continues to grow. Critics, however, may raise concerns over dedicating sales tax revenue in a way that may limit funding available for other pressing state needs. Additionally, the potential for reallocating funds only through supermajority votes could lead to legislative gridlock.
Fiscal considerations
Overall, HJR101 positions the Texas legislature to enhance its water management strategies through dedicated funding sources. By generating a stable revenue stream earmarked specifically for water-related projects, the amendment aims to improve water supply reliability and quality across the state, aligning with broader state goals for infrastructure investment and environmental stewardship.
Proposing a constitutional amendment providing for the dedication of certain sales and use tax revenue to a special fund established in the state treasury to pay for water infrastructure in this state.
Proposing a constitutional amendment creating the Texas Connectivity Fund for the development of broadband and other telecommunications services in all areas of the state and authorizing the appropriation to that fund of a portion of revenue received from the existing state sales and use taxes on telecommunications services while not increasing the rate of the sales and use taxes.
Proposing a constitutional amendment relating to the appropriation of the net revenue received from the imposition of state sales and use taxes on sporting goods.
Proposing a constitutional amendment providing for the creation of and use of money in the Grow Texas fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.
Proposing a constitutional amendment creating the state school safety fund to provide ongoing financial support for projects that ensure the safety of public schools in this state and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and the state highway fund.
Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, and the property tax relief fund.
Proposing a constitutional amendment providing for the creation of the Texas land and water conservation fund to assist in preserving critical natural resources in this state.
Proposing a constitutional amendment lowering the maximum allowable amount of money in the economic stabilization fund and dedicating certain general revenue to reducing school district maintenance and operations ad valorem taxes.
Proposing a constitutional amendment relating to the Texas University Fund, which provides funding to certain institutions of higher education to achieve national prominence as major research universities and drive the state economy.