Texas 2013 - 83rd 2nd C.S.

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1	1	By: Nichols, et al. S.J.R. No. 1
2	2	(In the Senate - Filed June 26, 2013; July 1, 2013, read
3	3	first time and referred to Committee on Finance; July 2, 2013,
4	4	reported favorably by the following vote: Yeas 12, Nays 0;
5	5	July 2, 2013, sent to printer.)
6	6
7	7
8	8	SENATE JOINT RESOLUTION
9	9	proposing a constitutional amendment to provide for the transfer of
10	10	certain general revenue to the economic stabilization fund, to
11	11	provide for the transfer of certain general revenue to the state
12	12	highway fund and the dedication of that revenue, and to authorize
13	13	the payment of the principal and interest on certain highway
14	14	improvement bonds from certain general revenue transferred to the
15	15	state highway fund.
16	16	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
17	17	SECTION 1. Section 49-g, Article III, Texas Constitution,
18	18	is amended by amending Subsections (c), (d), and (e) and adding
19	19	Subsections (c-1) and (c-2) to read as follows:
20	20	(c) Not later than the 90th day of each fiscal year, the
21	21	comptroller of public accounts shall transfer from the general
22	22	revenue fund to the economic stabilization fund and the state
23	23	highway fund the sum of the amounts described [prescribed] by
24	24	Subsections (d) and (e) of this section, to be allocated as provided
25	25	by Subsections (c-1) and (c-2) of this section. However, if
26	26	necessary and notwithstanding the allocations prescribed by
27	27	Subsections (c-1) and (c-2) of this section, the comptroller shall
28	28	reduce proportionately the amounts described by Subsections (d) and
29	29	(e) of this section to be transferred and allocated to the economic
30	30	stabilization fund to prevent the amount in that [the] fund from
31	31	exceeding the limit in effect for that biennium under Subsection
32	32	(g) of this section. Revenue transferred to the state highway fund
33	33	under this subsection may be used only for constructing,
34	34	maintaining, and acquiring rights-of-way for public roadways other
35	35	than toll roads.
36	36	(c-1) Of the sum of the amounts described by Subsections (d)
37	37	and (e) of this section and required to be transferred from the
38	38	general revenue fund under Subsection (c) of this section, the
39	39	comptroller shall allocate one-half to the economic stabilization
40	40	fund and the remainder to the state highway fund, except as provided
41	41	by Subsection (c-2) of this section.
42	42	(c-2) If the anticipated balance of the economic
43	43	stabilization fund after any transfer that may be made under
44	44	Subsection (b) of this section and any transfer and allocation of
45	45	money that may be made as provided by Subsections (c) and (c-1) of
46	46	this section would be less than one-third of the maximum authorized
47	47	balance of the economic stabilization fund, as provided by
48	48	Subsection (g) of this section, for the state fiscal biennium
49	49	preceding the biennium during which the transfer under Subsection
50	50	(c) of this section is to be made, the comptroller shall reduce the
51	51	amount that would otherwise be allocated to the state highway fund
52	52	as provided by Subsection (c-1) of this section by the lesser of the
53	53	total amount of the allocation to that fund or the amount necessary
54	54	for the anticipated balance of the economic stabilization fund,
55	55	after any transfer that may be made under Subsection (b) of this
56	56	section and the transfer and allocation to be made as provided by
57	57	Subsections (c) and (c-1) of this section, to equal one-third of the
58	58	maximum authorized balance of the economic stabilization fund, as
59	59	provided by Subsection (g) of this section, for the state fiscal
60	60	biennium preceding the biennium during which the transfer under
61	61	Subsection (c) of this section is to be made. The comptroller shall
62	62	allocate to the economic stabilization fund the amount by which the
63	63	allocation to the state highway fund is reduced under this
64	64	subsection.
65	65	(d) If in the preceding year the state received from oil
66	66	production taxes a net amount greater than the net amount of oil
67	67	production taxes received by the state in the fiscal year ending
68	68	August 31, 1987, the comptroller shall transfer under Subsection
69	69	(c) of this section and allocate in accordance with Subsections
70	70	(c-1) and (c-2) of this section [to the economic stabilization
71	71	fund] an amount equal to 75 percent of the difference between those
72	72	amounts. The comptroller shall retain the remaining 25 percent of
73	73	the difference as general revenue. In computing the net amount of
74	74	oil production taxes received, the comptroller may not consider
75	75	refunds paid as a result of oil overcharge litigation.
76	76	(e) If in the preceding year the state received from gas
77	77	production taxes a net amount greater than the net amount of gas
78	78	production taxes received by the state in the fiscal year ending
79	79	August 31, 1987, the comptroller shall transfer under Subsection
80	80	(c) of this section and allocate in accordance with Subsections
81	81	(c-1) and (c-2) of this section [to the economic stabilization
82	82	fund] an amount equal to 75 percent of the difference between those
83	83	amounts. The comptroller shall retain the remaining 25 percent of
84	84	the difference as general revenue. For the purposes of this
85	85	subsection, the comptroller shall adjust the [his] computation of
86	86	revenues to reflect only 12 months of collection.
87	87	SECTION 2. Section 49-p, Article III, Texas Constitution,
88	88	is amended by adding Subsection (e) to read as follows:
89	89	(e) Revenue transferred to the state highway fund under
90	90	Section 49-g(c) of this article may be appropriated to pay the
91	91	principal of and interest on bonds issued under this section.
92	92	SECTION 3. The following temporary provision is added to
93	93	the Texas Constitution:
94	94	TEMPORARY PROVISION. (a) This temporary provision applies
95	95	to the constitutional amendment proposed by the 83rd Legislature,
96	96	2nd Called Session, 2013, to provide for the transfer of certain
97	97	general revenue to the economic stabilization fund, to provide for
98	98	the transfer of certain general revenue to the state highway fund
99	99	and the dedication of that revenue, and to authorize the payment of
100	100	the principal and interest on certain highway improvement bonds
101	101	from certain general revenue transferred to the state highway fund.
102	102	(b) The amendment to Section 49-g, Article III, of this
103	103	constitution takes effect January 1, 2014, and applies only to a
104	104	transfer of revenue made by the comptroller of public accounts as
105	105	provided by Subsection (c) of that section on or after January 1,
106	106	2014.
107	107	(c) This temporary provision expires January 1, 2015.
108	108	SECTION 4. This proposed constitutional amendment shall be
109	109	submitted to the voters at an election to be held November 5, 2013.
110	110	The ballot shall be printed to permit voting for or against the
111	111	proposition: "The constitutional amendment to provide for the
112	112	transfer of certain general revenue to the economic stabilization
113	113	fund, to provide for the transfer of certain general revenue to the
114	114	state highway fund and the dedication of that revenue, and to
115	115	authorize the payment of the principal and interest on certain
116	116	highway improvement bonds from certain general revenue transferred
117	117	to the state highway fund."
118	118	* * * * *