By: Davis, Ellis S.J.R. No. 9
SENATE JOINT RESOLUTION
proposing a constitutional amendment to provide for the transfer of
certain general revenue to the state highway fund, the foundation
school 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. Subsections (c), (d), and (e), Section 49-g,
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, the state highway fund, and the
foundation school 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 to be
appropriated to the foundation school fund. 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, transfer an amount equal to
three-tenths to the state highway fund, and transfer an amount
equal to two-tenths to the foundation school fund to be applied to
the instructional facilities allotment and the existing debt
allotment [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 to be
appropriated to the foundation school fund. 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, transfer an amount equal to
three-tenths to the state highway fund, and transfer an amount
equal to two-tenths to the foundation school fund to be applied to
the instructional facilities allotment and the existing debt
allotment [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, the foundation school
fund for the benefit of school facilities, 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, the
foundation school fund for the benefit of school facilities, 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."