83S10120 JJT-D
By: Phillips H.J.R. No. 9
A JOINT RESOLUTION
proposing a constitutional amendment to provide for the transfer of
certain general revenue to the state highway fund and the economic
stabilization fund and to authorize 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. Sections 49-g(c), (d), and (e), Article III,
Texas Constitution, are amended 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 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.
(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.
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, to provide for the transfer of certain
general revenue to the state highway fund and the economic
stabilization fund and to authorize 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 to provide for the
transfer of certain general revenue to the state highway fund and
the economic stabilization fund and to authorize the payment from
the state highway fund of the principal and interest on certain
highway improvement bonds."