Texas 2017 - 85th Regular

Texas Senate Bill SJR59

Caption

Proposing a constitutional amendment to set aside money from the economic stabilization fund and certain general revenue to pay for certain state infrastructure projects and to create a state infrastructure endowment fund for funding certain costs of those projects.

Impact

Under SJR59, each fiscal year from 2019 to 2029, the comptroller of public accounts would be required to transfer a specific percentage of general revenue to the state infrastructure endowment fund. Additionally, an initial one-time contribution of $1 billion would be made from the economic stabilization fund directly into this endowment. This initiative aims to not only stabilize funding for critical infrastructure projects but also to enable investments that generate income, further enhancing the state’s capabilities to address its infrastructure needs.

Summary

SJR59 proposes a constitutional amendment aimed at enhancing funding for state infrastructure projects in Texas. The resolution intends to allocate funds from the economic stabilization fund, as well as a portion of general revenue, to establish a state infrastructure endowment fund. This fund would serve to finance various state infrastructure needs by ensuring a dedicated stream of financing over a specified period, thus allowing for repairs, renovations, and construction of state infrastructure that is not related to transportation.

Conclusion

The proposed amendment will be submitted for voter approval and has the potential to significantly change how Texas manages funding for infrastructure projects. Should voters support SJR59, it would not only amend current practices but also potentially reshape the future of public investment in state infrastructure. This could lead to a more systematic approach to addressing infrastructure deficits while emphasizing the importance of financial prudence in state governance.

Contention

While SJR59 is positioned as a measure to improve state infrastructure, the bill may face scrutiny regarding the impact of the reserved funds on other state budget priorities. Critics could argue that setting aside these significant amounts of money in a dedicated fund might limit the flexibility of the state budget and reduce available resources for urgent needs elsewhere. Additionally, concerns may arise regarding the management of the infrastructure endowment fund and whether established oversight mechanisms are sufficient to ensure the funds are allocated effectively.

Companion Bills

No companion bills found.

Previously Filed As

TX HJR203

Proposing a constitutional amendment providing for the creation of the Texas legacy fund and the Texas legacy distribution fund, dedicating the Texas legacy distribution fund to certain state infrastructure projects or the reduction of certain long-term obligations, and providing for the transfer of certain general revenues to the economic stabilization fund, the Texas legacy fund, and the state highway fund.

TX HJR27

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.

TX HJR169

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.

TX HJR1

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.