83S10422 JAM-D
By: Harper-Brown H.J.R. No. 19
A JOINT RESOLUTION
proposing a constitutional amendment providing for the transfer of
general revenue to the state highway fund and the economic
stabilization fund and authorizing the payment from the state
highway fund of the principal and interest on certain highway
improvement bonds.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49-g, Article III, Texas Constitution,
is amended by amending Subsections (c), (d), and (e) and adding
Subsection (p) to read as follows:
(c) Not later than the 90th day of each fiscal year, the
comptroller of public accounts shall transfer from general revenue
to the economic stabilization fund and to the state highway fund the
amounts prescribed by Subsections (d) and (e) of this section.
However, [if necessary,] the comptroller shall:
(1) if necessary, reduce proportionately the amounts
transferred to the economic stabilization fund to prevent the
amount in the fund from exceeding the limit in effect for that
biennium under Subsection (g) of this section; and
(2) transfer to the economic stabilization fund the
amounts designated for transfer to the state highway fund if the
balance of the economic stabilization fund is less than $7 billion.
(d) If in the preceding year the state received from oil
production taxes a net amount greater than the net amount of oil
production taxes received by the state in the fiscal year ending
August 31, 1987, the comptroller shall retain [transfer to the
economic stabilization fund] an amount equal to 25 [75] percent of
the difference between those amounts as general revenue. Of the
remaining 75 percent of the difference between those amounts, the
[. The] comptroller shall transfer an amount equal to one-half to
the economic stabilization fund and transfer an amount equal to
one-half to the state highway fund [retain the remaining 25 percent
of the difference as general revenue]. In computing the net amount
of oil production taxes received, the comptroller may not consider
refunds paid as a result of oil overcharge litigation.
(e) If in the preceding year the state received from gas
production taxes a net amount greater than the net amount of gas
production taxes received by the state in the fiscal year ending
August 31, 1987, the comptroller shall retain [transfer to the
economic stabilization fund] an amount equal to 25 [75] percent of
the difference between those amounts as general revenue. Of the
remaining 75 percent of the difference between those amounts, the
[. The] comptroller shall transfer an amount equal to one-half to
the economic stabilization fund and transfer an amount equal to
one-half to the state highway fund [retain the remaining 25 percent
of the difference as general revenue]. For the purposes of this
subsection, the comptroller shall adjust the [his] computation of
revenues to reflect only 12 months of collection.
(p) Revenue transferred to the state highway fund under this
section may be used only for constructing, maintaining, and
acquiring right-of-way for public roadways.
SECTION 2. Section 49-p, Article III, Texas Constitution,
is amended by adding Subsection (e) to read as follows:
(e) Money deposited to the credit of the state highway fund
may be appropriated to repay the principal and interest on bonds
issued under this section.
SECTION 3. The following temporary provision is added to
the Texas Constitution:
TEMPORARY PROVISION. (a) This temporary provision applies
to the constitutional amendment proposed by the 83rd Legislature,
1st Called Session, 2013, providing for the transfer of general
revenue to the state highway fund and the economic stabilization
fund and authorizing the payment from the state highway fund of the
principal and interest on certain highway improvement bonds.
(b) The amendment to Section 49-g, Article III, of this
constitution takes effect January 1, 2014, and applies only to a
transfer of revenue made by the comptroller of public accounts as
provided by Subsection (d) or (e) of that section on or after
January 1, 2014.
(c) This temporary provision expires January 1, 2015.
SECTION 4. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2013.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment providing for the
transfer of general revenue to the state highway fund and the
economic stabilization fund and authorizing the payment from the
state highway fund of the principal and interest on certain highway
improvement bonds."