Texas House Bill HJR21

Texas 2021 - 87th Regular

Caption

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.

Impact

One of the primary impacts of HJR21, if passed, is the creation of a dedicated financial instrument, the Grow Texas fund, which will receive a specified portion of the general revenue fund. This, alongside the existing economic stabilization fund and the state highway fund, aligns monetary allocations to prioritize infrastructure in key economic sectors. By mandating these fund distributions, the bill seeks to ensure that infrastructure development keeps pace with the demands of oil and gas-producing areas, potentially fostering economic growth in those regions.

Summary

HJR21 proposes a constitutional amendment focused on the establishment and funding of the Grow Texas fund. This fund is meant to support regions significantly affected by oil and gas production, allocating a portion of general revenues from the state budget to address infrastructure needs specific to these areas. The proposal requires amendments to Section 49-g of Article III of the Texas Constitution, detailing how funds should be transferred and managed annually. HJR21 aims to reserve funds for significant economic regions while also stabilizing the general revenue procedure related to state budgeting.

Contention

Key points of contention regarding HJR21 revolve around the long-term implications for state budget management and local governance. Critics might argue that dedicating a portion of the state's revenue specifically for oil and gas areas could detract from funds needed in other sectors, potentially exacerbating disparities in state-wide infrastructure spending. Furthermore, the debate may touch upon whether the amendment allows sufficient flexibility for future adjustments, given the dynamic nature of funding priorities across different regions of Texas.