Proposing a constitutional amendment regarding the dedication by general law of revenue of or money received by this state and money held in or deposited to an account or fund inside or outside the state treasury and the authorized expenditure or appropriation of revenue or money dedicated by general law.
If enacted, this bill would strengthen the legislature's power over the appropriation and expenditure of state funds, creating a more formalized process for how revenue is managed and dedicated. It provides a mechanism for ensuring that funds earmarked for specific purposes are used appropriately, thereby increasing accountability in the legislative process. This could also lead to a reduction in the flexibility of budgetary allocations, as dedicated funds cannot be redirected without a substantial legislative decision.
HJR58 proposes a constitutional amendment to Article VIII of the Texas Constitution, specifically adding Section 28. The amendment allows the legislature to dedicate revenue or money received by the state from specific sources, as well as money held in accounts or funds outside the state treasury. Moreover, this legislation clarifies that money dedicated for certain purposes may not be spent on anything outside of those prescribed purposes unless a new law is passed. This new law would require a two-thirds majority vote in both the House and Senate, thereby maintaining a level of legislative oversight.
There are potential points of contention surrounding HJR58, especially among fiscal conservatives who may argue that additional restrictions on how revenue can be appropriated could complicate budgetary processes. Critics might express concerns that the specific dedication of funds could limit the state's ability to respond flexibly to changing financial circumstances. Additionally, the requirement of a two-thirds vote for changes could create legislative gridlock, thereby stalling the state's ability to adapt funding to address urgent needs.