Texas 2025 - 89th Regular

Texas House Bill HB265

Filed

11/12/24

Out of House Committee

Voted on by House

Out of Senate Committee

Voted on by Senate

Governor Action

Bill Becomes Law

Caption

Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the state highway fund, and the Grow Texas fund and to the permissible uses of money deposited to the Grow Texas fund.

Impact

If enacted, HB 265 would amend existing laws to enable the comptroller of public accounts to adjust allocations to the mentioned funds based on predicted fiscal conditions. This modification is intended to ensure that funds are appropriated responsibly and efficiently, with a focus on areas significantly affected by the state's oil and gas industries. The act will influence the economic landscape of these areas by ensuring necessary financial support for infrastructure development.

Summary

House Bill 265 addresses the allocation of certain constitutional transfers of money to various funds in Texas, including the Economic Stabilization Fund, State Highway Fund, and the Grow Texas Fund. The bill aims to create a systematic framework for how these funds are managed and allocated based on established fiscal thresholds, targeting enhanced infrastructure funding in regions affected by oil and gas production. Notably, it establishes a program for grants which would allow selected applicants to receive funding for critical infrastructure projects such as roads, schools, and health care facilities.

Contention

One significant aspect of HB 265 is the requirement for voter approval of a constitutional amendment related to the Grow Texas Fund. This provision adds a layer of complexity as it may lead to political debates around fiscal responsibilities and the prioritization of infrastructure funding. Critics may express concerns about relying on constitutional amendments to facilitate urgent economic needs, questioning the readiness and ability of legislative bodies to act efficiently in times of economic uncertainty.

Texas Constitutional Statutes Affected

Government Code

Chapter 316. Appropriations
- Section: New Section
- Section: 092
- Section: 093

Chapter 403. Comptroller Of Public Accounts
- Section: New Section

Latest HB265 Activity

Companion Bills

TX HJR35

Enabling for 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.

Similar Bills

TX HJR38

Proposing a constitutional amendment regarding the rainy day fund and dedicating certain surplus revenues to property tax reduction.

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 HJR10

TX HB1317

Relating to directing certain surplus revenue to water infrastructure funding.

TX HB5227

Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the Texas legacy fund, and the state highway fund and to the management and investment of the economic stabilization fund, the Texas legacy fund, and the Texas legacy distribution fund.

TX SJR77

Proposing a constitutional amendment relating to the dedication of certain severance tax collections for school district ad valorem tax compression.

TX HJR2

Proposing a constitutional amendment to provide for revenue from motor fuel taxes to be used solely for constructing, maintaining, and acquiring rights-of-way for certain public roadways and to provide for the transfer of certain general revenue to the economic stabilization fund and the available school fund.