Texas Senate Bill SJR1

Texas 2013 - 83rd 2nd C.S.

Caption

Proposing a constitutional amendment to provide for the transfer of certain general revenue to the economic stabilization fund, to provide for the transfer of certain general revenue to the state highway fund and the dedication of that revenue, and to authorize the payment of the principal and interest on certain highway improvement bonds from certain general revenue transferred to the state highway fund.

Impact

If enacted, SJR1 would significantly amend Section 49-g, Article III of the Texas Constitution. The amendment mandates that by the 90th day of each fiscal year, the comptroller must transfer designated amounts from the general revenue fund to both the economic stabilization fund and the state highway fund. This adjustment not only aims to enhance financial stability for welfare programs but also ensures consistent funding for public transportation projects, which is crucial for the state's development.

Summary

SJR1, a Senate Joint Resolution, proposes a constitutional amendment aimed at modifying the allocation of certain general revenue in Texas. Specifically, it seeks to establish a systematic transfer of funds to the economic stabilization fund and the state highway fund. The initiative is rooted in the necessity to ensure that there is a dedicated revenue stream to support critical areas such as state highways and infrastructural development.

Contention

There are notable points of contention surrounding SJR1, particularly regarding the fiscal implications of such amendments. Opponents may argue that committing general revenue to these funds could limit financial flexibility for addressing a variety of state needs, especially in times of economic downturns. Additionally, concerns may arise about the potential prioritization of highway funding over other essential services, which could lead to inequities in state funding distribution.

Summary_highlights

The proposed measures will also allow the state highway fund to allocate revenue for paying off principal and interest on highway improvement bonds, further emphasizing the need for sustained investment in transportation. SJR1 is significant as it sets the framework for how state resources are allocated, potentially reshaping the financial landscape in which Texas operates.