Texas 2017 - 85th Regular

Texas Senate Bill SJR24

Voted on by Senate
 
Out of House Committee
 
Voted on by House
 
Sent toSOS
 
Proposed Const. Amend.
 

Caption

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.

Impact

If enacted, SJR24 will modify the Texas Constitution by specifying that any excess revenues credited to the General Revenue Fund can be appropriated solely for the purposes outlined in the amendment. This includes augmenting contributions to the aforementioned retirement systems and funds, ensuring that they receive sufficient financial support during times of economic surplus. Such a mechanism aims to promote fiscal responsibility and safeguard the interests of retirees and education employees across Texas, particularly in the context of growing fiscal pressures and concerns about long-term sustainability.

Summary

SJR24 proposes a constitutional amendment that aims to allocate certain excess state revenues towards contributions to various retirement systems and funds. Specifically, the bill seeks to enhance the financial support for the Employees Retirement System of Texas, the Teacher Retirement System of Texas, and the health benefit plans for retired education employees and their dependents. Furthermore, it also addresses contributions towards the Texas Tomorrow Fund, the Permanent School Fund, and the Permanent University Fund. This adjustment in the constitutional framework reflects a proactive approach to ensuring the long-term viability of these essential financial programs.

Contention

The discussion surrounding SJR24 highlights notable points of contention among legislators. Supporters argue that the bill is a necessary step to secure the financial health of state retirement systems, particularly given historical concerns about actuarial soundness. Critics, however, may raise concerns regarding dependency on fluctuating state revenues and question whether the amendment sufficiently addresses the potential risks associated with financial instability in the face of economic downturns. Additionally, the bill's proponents need to ensure that the allocation process is equitable and transparent, balancing contributions against other potential state financial obligations.

Companion Bills

No companion bills found.

Previously Filed As

TX HJR189

Proposing a constitutional amendment reducing The University of Texas System's share of the income and other benefits of the permanent university fund, transferring to the national research university fund and general revenue fund a portion of the annual distribution made from the permanent university fund to the available university fund, appropriating the portion transferred to the national research university fund, and dedicating the portion transferred to the general revenue fund to provide for the support and maintenance of public institutions of higher education.

TX HJR203

Proposing a constitutional amendment providing for the creation of the Texas legacy fund and the Texas legacy distribution fund, dedicating the Texas legacy distribution fund to certain state infrastructure projects or the reduction of certain long-term obligations, and providing for the transfer of certain general revenues to the economic stabilization fund, the Texas legacy fund, and the state highway fund.

TX SJR69

Proposing a constitutional amendment dedicating to the national research university fund a portion of certain income from the lease for oil and gas exploration of land dedicated to the permanent university fund.

TX HJR27

Proposing a constitutional amendment providing for the creation of and use of money in the Grow Texas fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

TX HJR111

Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, and the property tax relief fund.

TX SJR81

Proposing a constitutional amendment providing for the creation of funds to support the capital needs of educational programs offered by the Texas State Technical College System and certain component institutions of the Texas State University System and repealing the limitation on the allocation to the Texas State Technical College System and its campuses of the annual appropriation of certain constitutionally dedicated funding for public institutions of higher education.

TX HJR1

Proposing a constitutional amendment creating the state school safety fund to provide ongoing financial support for projects that ensure the safety of public schools in this state and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

TX HJR3

Proposing a constitutional amendment relating to the Texas University Fund, which provides funding to certain institutions of higher education to achieve national prominence as major research universities and drive the state economy.

TX SJR26

Proposing a constitutional amendment to entitle all component institutions of The Texas A&M University System and The University of Texas System to participate in the income and other benefits of the permanent university fund.

TX SJR5

Proposing a constitutional amendment relating to the Texas University Fund, which provides funding to certain institutions of higher education to achieve national prominence as major research universities and drive the state economy.

Similar Bills

No similar bills found.