| 1 | 1 | | 84R8458 JJT-D |
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| 2 | 2 | | By: Taylor of Collin S.J.R. No. 37 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A JOINT RESOLUTION |
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| 6 | 6 | | proposing a constitutional amendment providing for certain excess |
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| 7 | 7 | | revenue to be dedicated toward contributions to state retirement |
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| 8 | 8 | | systems, the health benefit plan for retired education employees |
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| 9 | 9 | | and their dependents, the Texas tomorrow fund, the permanent school |
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| 10 | 10 | | fund, and the permanent university fund. |
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| 11 | 11 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 49-g, Article III, Texas Constitution, |
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| 13 | 13 | | is amended by adding Subsections (p), (q), and (r) to read as |
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| 14 | 14 | | follows: |
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| 15 | 15 | | (p) When the comptroller acts to prevent the amount in the |
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| 16 | 16 | | economic stabilization fund from exceeding the limit in effect for |
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| 17 | 17 | | a biennium under Subsection (g) of this section by reducing an |
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| 18 | 18 | | amount transferred to the fund from general revenue as provided by |
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| 19 | 19 | | Subsection (b) or (c) of this section or by crediting to general |
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| 20 | 20 | | revenue interest due to the economic stabilization fund as provided |
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| 21 | 21 | | by Subsection (i) of this section, the comptroller shall credit to |
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| 22 | 22 | | an account in the general revenue fund of the state treasury: |
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| 23 | 23 | | (1) if the comptroller reduces the amount transferred |
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| 24 | 24 | | under Subsection (b) of this section, an amount of general revenue |
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| 25 | 25 | | equal to the difference between the amount transferred to the |
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| 26 | 26 | | economic stabilization fund under Subsection (b) of this section |
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| 27 | 27 | | and the amount that would have been transferred under that |
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| 28 | 28 | | subsection but for the limit in effect under Subsection (g) of this |
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| 29 | 29 | | section; |
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| 30 | 30 | | (2) if the comptroller reduces the amount transferred |
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| 31 | 31 | | under Subsection (c) of this section, an amount of general revenue |
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| 32 | 32 | | equal to the difference between the amount transferred to the |
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| 33 | 33 | | economic stabilization fund under Subsection (c) of this section |
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| 34 | 34 | | and the amount that would have been transferred under that |
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| 35 | 35 | | subsection but for the limit in effect under Subsection (g) of this |
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| 36 | 36 | | section; and |
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| 37 | 37 | | (3) if the comptroller reduces the amount credited to |
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| 38 | 38 | | the economic stabilization fund under Subsection (i) of this |
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| 39 | 39 | | section, an amount of general revenue equal to the amount credited |
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| 40 | 40 | | to general revenue under that subsection. |
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| 41 | 41 | | (q) General revenue credited to the account of the general |
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| 42 | 42 | | revenue fund in the state treasury as provided by Subsection (p) of |
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| 43 | 43 | | this section, and the interest or other earnings on the balance of |
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| 44 | 44 | | that account, may be appropriated only for the following purposes: |
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| 45 | 45 | | (1) making an additional contribution to the Employees |
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| 46 | 46 | | Retirement System of Texas created under Section 67(b), Article |
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| 47 | 47 | | XVI, of this constitution; |
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| 48 | 48 | | (2) making an additional contribution to the Teacher |
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| 49 | 49 | | Retirement System of Texas created under Section 67(b), Article |
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| 50 | 50 | | XVI, of this constitution, or to the health benefit plan created for |
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| 51 | 51 | | the retired members of the Teacher Retirement System of Texas and |
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| 52 | 52 | | their dependents; and |
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| 53 | 53 | | (3) making an additional contribution to the Texas |
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| 54 | 54 | | tomorrow fund created under Section 19, Article VII, of this |
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| 55 | 55 | | constitution. |
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| 56 | 56 | | (r) On the last day of the state fiscal biennium during |
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| 57 | 57 | | which the money was credited to the account of the general revenue |
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| 58 | 58 | | fund in the state treasury as provided by Subsection (p) of this |
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| 59 | 59 | | section, the comptroller shall transfer the remaining |
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| 60 | 60 | | unappropriated and unobligated balance of that account to the |
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| 61 | 61 | | credit of the permanent school fund and the permanent university |
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| 62 | 62 | | fund in equal amounts. |
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| 63 | 63 | | SECTION 2. This proposed constitutional amendment shall be |
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| 64 | 64 | | submitted to the voters at an election to be held November 3, 2015. |
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| 65 | 65 | | The ballot shall be printed to provide for voting for or against the |
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| 66 | 66 | | proposition: "The constitutional amendment providing for certain |
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| 67 | 67 | | excess revenue to be dedicated toward contributions to state |
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| 68 | 68 | | retirement systems, the health benefit plan for retired education |
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| 69 | 69 | | employees and their dependents, the Texas tomorrow fund, the |
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| 70 | 70 | | permanent school fund, and the permanent university fund." |
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