Texas 2015 - 84th Regular

Texas Senate Bill SB307

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 general obligation debt.

Impact

The implementation of SB307 is expected to positively influence Texas's creditworthiness by ensuring timely payments of bonded debt obligations. By fostering a structured approach to handling state revenue, the bill aims to reinforce the state's commitment to maintaining and retiring its debt. This could, in turn, lead to lowered borrowing costs in future financing activities and establish a more stable financial environment within the state government's operational framework.

Summary

SB307 is a legislative proposal aimed at improving the financial management of state revenues by establishing a dedicated account for the retirement of general obligation debt. The bill amends Chapter 403 of the Government Code to create a General Obligation Debt Retirement Account, which allows money to be allocated specifically for the payment of principal and interest on state general obligation debt. This approach is intended to streamline the state's budgeting process related to debt repayments and enhance fiscal responsibility.

Contention

While the bill addresses the critical area of debt management, debates may arise regarding the specific revenue streams that will be allocated to the General Obligation Debt Retirement Account. Stakeholders might express differing views on whether certain existing funds should be redirected or if new sources of revenue should be identified, which could lead to discussions about state budget reallocations and potential impacts on other public services and programs.

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 SJR41

Proposing a constitutional amendment lowering the maximum allowable amount of money in the economic stabilization fund and dedicating certain general revenue to reducing school district maintenance and operations ad valorem taxes.

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 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 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 SB1366

Relating to directing certain surplus state revenue to the flood infrastructure 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 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 SB1232

Relating to the determination of the sufficient balance of the economic stabilization fund for the purpose of allocating general revenue to that fund and the state highway fund.

Similar Bills

No similar bills found.