Texas House Bill HJR82

Texas 2019 - 86th Regular

Caption

Proposing a constitutional amendment providing for the creation of and use of money in the generate recurring oil wealth for Texas (GROW Texas) fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

Impact

The GROW Texas fund will receive revenue through a stipulated allocation from the state's general revenue fund, thereby providing a dedicated source of funding targeted at the areas most affected by oil extraction. This is significant in that it establishes a financial mechanism aimed at addressing the infrastructure demands of oil-producing regions, ensuring that these communities gain benefit proportional to the extraction activities taking place in their locale.

Summary

HJR82 proposes a constitutional amendment to create and manage the Generate Recurring Oil Wealth for Texas (GROW Texas) fund, which is designated to address infrastructure needs in areas significantly impacted by oil and gas production. The bill seeks to allocate certain general revenues to this fund, the economic stabilization fund, and the state highway fund. This measure reflects Texas' ongoing efforts to leverage its oil resources for public benefit, aiming to sustain and improve infrastructure in giving regions.

Sentiment

The sentiment surrounding HJR82 appears to be generally favorable as it has substantial bipartisan support within the legislature, given its adoption by a large majority (121 yeas vs 13 nays). Proponents view this bill as a proactive approach to manage oil wealth for infrastructural development, highlighting its potential to improve public services in communities impacted by the oil industry. However, potential criticism may arise from those concerned with the appropriate use of such funds and the risk of excessive reliance on oil revenues.

Contention

Discussion around HJR82 did not reveal significant contention; however, the implications of how the GROW Texas fund will be administered may lead to debates over the accountability and prioritization of funding projects. Establishing a commission for fund administration could raise questions about its membership appointments and operational transparency. As with any legislative measure involving state resources, the long-term sustainability and equitable distribution of benefits from the fund are likely to be topics of interest moving forward.