Texas 2017 - 85th Regular

Texas House Bill HJR114 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	By: Burrows H.J.R. No. 114
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4	4	A JOINT RESOLUTION
5	5	proposing a constitutional amendment to divert any net income
6	6	attributable to newly discovered oil and gas or other mineral
7	7	interests on permanent university fund land from the permanent
8	8	university fund to fund capital projects at certain public
9	9	univer
10	10	sities and agencies of higher education that are currently
11	11	ineligible for distributions from the permanent university fund.
12	12	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Article VII, Texas Constitution, is amended by
14	14	adding Section 15-a to read as follows:
15	15	Sec. 15-a. Notwithstanding any other provision of this
16	16	constitution, any net income, including royalties, attributable to
17	17	oil and gas or other mineral interests discovered on or after
18	18	January 1, 2015, on permanent university fund land shall be
19	19	deposited to the credit of the state treasury and may be used only
20	20	for distribution to eligible public universities and agencies of
21	21	higher education under Section 17(a) in accordance with that
22	22	section.
23	23	SECTION 2. Section 17(a), Article VII, Texas Constitution,
24	24	is amended to read as follows:
25	25	(a) In the fiscal year beginning September 1, 1985, and each
26	26	fiscal year thereafter, there is hereby appropriated out of funds
27	27	deposited to the state treasury under Section 15-a, and out of the
28	28	first money coming into the state treasury not otherwise
29	29	appropriated by the constitution, a total of $100 million to be used
30	30	by eligible agencies and institutions of higher education for the
31	31	purpose of acquiring land either with or without permanent
32	32	improvements, constructing and equipping buildings or other
33	33	permanent improvements, major repair or rehabilitation of
34	34	buildings or other permanent improvements, acquisition of capital
35	35	equipment, library books and library materials, and paying for
36	36	acquiring, constructing, or equipping or for major repair or
37	37	rehabilitation of buildings, facilities, other permanent
38	38	improvements, or capital equipment used jointly for educational and
39	39	general activities and for auxiliary enterprises to the extent of
40	40	their use for educational and general activities. For the
41	41	five-year period that begins on September 1, 2000, and for each
42	42	five-year period that begins after that period, the legislature,
43	43	during a regular session that is nearest, but preceding, a
44	44	five-year period, may by two-thirds vote of the membership of each
45	45	house increase the amount of the constitutional appropriation for
46	46	the five-year period but may not adjust the appropriation in such a
47	47	way as to impair any obligation created by the issuance of bonds or
48	48	notes in accordance with this section.
49	49	SECTION 3. This proposed constitutional amendment shall be
50	50	submitted to the voters at an election to be held November 7, 2017.
51	51	The ballot shall be printed to permit voting for or against the
52	52	proposition: "The constitutional amendment to divert any net
53	53	income attributable to newly discovered oil and gas or other
54	54	mineral interests on permanent university fund land from the
55	55	permanent university fund to fund capital projects at certain
56	56	public universities and agencies of higher education that are
57	57	currently ineligible for distributions from the permanent
58	58	university fund."