84R8458 JJT-D
By: Taylor of Collin S.J.R. No. 37
A JOINT RESOLUTION
proposing a constitutional amendment providing for certain excess
revenue to be dedicated toward contributions to state retirement
systems, the health benefit plan for retired education employees
and their dependents, the Texas tomorrow fund, the permanent school
fund, and the permanent university fund.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49-g, Article III, Texas Constitution,
is amended by adding Subsections (p), (q), and (r) to read as
follows:
(p) When the comptroller acts to prevent the amount in the
economic stabilization fund from exceeding the limit in effect for
a biennium under Subsection (g) of this section by reducing an
amount transferred to the fund from general revenue as provided by
Subsection (b) or (c) of this section or by crediting to general
revenue interest due to the economic stabilization fund as provided
by Subsection (i) of this section, the comptroller shall credit to
an account in the general revenue fund of the state treasury:
(1) if the comptroller reduces the amount transferred
under Subsection (b) of this section, an amount of general revenue
equal to the difference between the amount transferred to the
economic stabilization fund under Subsection (b) of this section
and the amount that would have been transferred under that
subsection but for the limit in effect under Subsection (g) of this
section;
(2) if the comptroller reduces the amount transferred
under Subsection (c) of this section, an amount of general revenue
equal to the difference between the amount transferred to the
economic stabilization fund under Subsection (c) of this section
and the amount that would have been transferred under that
subsection but for the limit in effect under Subsection (g) of this
section; and
(3) if the comptroller reduces the amount credited to
the economic stabilization fund under Subsection (i) of this
section, an amount of general revenue equal to the amount credited
to general revenue under that subsection.
(q) General revenue credited to the account of the general
revenue fund in the state treasury as provided by Subsection (p) of
this section, and the interest or other earnings on the balance of
that account, may be appropriated only for the following purposes:
(1) making an additional contribution to the Employees
Retirement System of Texas created under Section 67(b), Article
XVI, of this constitution;
(2) making an additional contribution to the Teacher
Retirement System of Texas created under Section 67(b), Article
XVI, of this constitution, or to the health benefit plan created for
the retired members of the Teacher Retirement System of Texas and
their dependents; and
(3) making an additional contribution to the Texas
tomorrow fund created under Section 19, Article VII, of this
constitution.
(r) On the last day of the state fiscal biennium during
which the money was credited to the account of the general revenue
fund in the state treasury as provided by Subsection (p) of this
section, the comptroller shall transfer the remaining
unappropriated and unobligated balance of that account to the
credit of the permanent school fund and the permanent university
fund in equal amounts.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 3, 2015.
The ballot shall be printed to provide for voting for or against the
proposition: "The constitutional amendment providing for certain
excess revenue to be dedicated toward contributions to state
retirement systems, the health benefit plan for retired education
employees and their dependents, the Texas tomorrow fund, the
permanent school fund, and the permanent university fund."