Texas 2025 - 89th Regular

Texas Senate Bill SB319

Voted on by Senate
 
Out of House Committee
 
Voted on by House
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to dedicating certain state revenue to the purpose of retiring state debt.

Impact

If enacted, SB319 will enhance the financial management of state funds by ensuring that a portion of the revenue is explicitly allocated for debt reduction. This could potentially lead to a more robust fiscal strategy for the state, allowing for timely payments on state bonds and obligations. Furthermore, by prioritizing debt retirement, the state may improve its credit rating, leading to lower borrowing costs in the future and improved financial stability.

Summary

SB319 aims to dedicate specific state revenues for the purpose of retiring state debt. This bill introduces a new section to the Texas Government Code, establishing a state debt retirement account within the general revenue fund. This account will be managed by the comptroller of public accounts, who will allocate funds from the general revenue to this account whenever certain conditions related to the economic stabilization fund are met. This change aligns with the Texas Constitution's provisions related to the financial management of state funds.

Contention

While the bill primarily addresses financial management and accountability, it may lead to discussions regarding the prioritization of funding within the state budget. Some may argue that dedicating revenue to debt retirement could limit funds available for other essential services or programs, leading to potential cuts in areas such as education, healthcare, or infrastructure. These points of contention highlight the need for a balanced approach in managing state finances, ensuring both debt responsibilities and public service needs are adequately met.

Texas Constitutional Statutes Affected

Government Code

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

Companion Bills

No companion bills found.

Previously Filed As

TX SB1335

Relating to dedicating certain state revenue to the purpose of retiring state debt.

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 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 HB3461

Relating to the creation and re-creation of funds and accounts, the dedication and rededication of revenue and allocation of accrued interest on dedicated revenue, and the exemption of unappropriated money from use for general governmental purposes.

TX HJR111

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.

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.

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 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 SB1508

Relating to the creation and re-creation of funds and accounts, the dedication and rededication of revenue and allocation of accrued interest on dedicated revenue, and the exemption of unappropriated money from use for general governmental purposes.

TX HB38

Relating to the elimination of certain property taxes for school district maintenance and operations and the provision of public education funding by increasing the rates of certain state taxes.

Similar Bills

No similar bills found.