Proposing a constitutional amendment providing for the creation of the state infrastructure fund and board to provide financial assistance for certain projects related to economic development infrastructure and for the transfer to the fund of money from the economic stabilization fund; making an appropriation.
Impact
The establishment of the State Infrastructure Fund has significant implications for state laws and local governance. By creating a centralized fund specifically designated for infrastructure projects, SJR38 aims to streamline funding processes for local governments seeking support for development initiatives. The bill stipulates the transfer of $3 billion from the economic stabilization fund to kick-start the infrastructure fund, demonstrating a concrete commitment to improving Texas's infrastructure landscape. This could lead to enhanced economic growth through improved transportation networks and facilities, promoting trade and movement within the state.
Summary
SJR38 proposes a constitutional amendment to establish the State Infrastructure Fund and a corresponding board to manage financial assistance for projects that are focused on economic development infrastructure, particularly related to transportation and ports. The bill outlines the governor's authority to appoint members to the board, which will consist of individuals experienced in various aspects of transportation and urban planning. The board will have the power to provide loans to local governments and enhance credit for certain infrastructure projects, thereby facilitating improvements in economic infrastructure across the state.
Sentiment
General sentiment surrounding SJR38 is largely favorable, particularly among proponents who argue that the bill is necessary for addressing the growing infrastructure needs of Texas. Supporters view the fund as a proactive measure to enhance state capabilities in managing infrastructure projects and driving economic development. However, there are concerns regarding fiscal responsibility and the effectiveness of the fund in delivering tangible results, as retaining oversight and ensuring accountability for expenditures could pose challenges in the long run.
Contention
Notable points of contention include the specific focus on transportation and port infrastructure projects, which could limit the scope of the fund's applicability to other essential areas such as public safety or environmental initiatives. Additionally, critics may express skepticism regarding the distribution of funds and the prioritization process, voicing worries that some regions may be favored over others based on political or economic interests. The balance between state oversight and local autonomy in determining infrastructure needs and priorities could also spark debates as the bill progresses.
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.
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.
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.
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.
Relating to the creation and uses of the critical infrastructure resiliency fund and the eligibility of certain water-related projects for state financial assistance.
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.
Proposing a constitutional amendment creating the broadband infrastructure fund to expand high-speed broadband access and assist in the financing of connectivity projects.
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.