Proposing a constitutional amendment to set aside general revenue as dedicated to pay for certain state infrastructure projects.
Impact
If enacted, SJR46 would significantly influence how state revenue is allocated, ensuring a steady stream of funding for infrastructure projects. The establishment of the state infrastructure endowment fund would require changes to existing financial management practices within the state treasury, as the fund is managed by the Texas Treasury Safekeeping Trust Company. It allows for the use of funds accrued without requiring further legislative appropriation, which proponents argue would streamline the financing process for vital infrastructure projects.
Summary
SJR46 proposes a constitutional amendment that aims to set aside a portion of the state’s general revenue for a dedicated fund aimed at infrastructure projects. Specifically, it calls for the Texas comptroller to transfer one-quarter of one percent of all general revenue collected in the previous fiscal year to the newly created state infrastructure endowment fund. The fund is intended to facilitate payments on state bonds that are designated for repairing, renovating, or constructing various types of state infrastructure, excluding transportation and higher education facilities.
Contention
One notable point of contention surrounding SJR46 relates to how the amendment might limit the legislature’s discretion over financial appropriations in the future. Critics could argue that by constitutionally dedicating a portion of revenue to a specific fund, it risks constraining fiscal flexibility, especially during times of budget shortfalls. There will likely be debates over whether this amendment could detract from funding allocations for other pressing state needs if a fixed percentage of revenue is consistently directed to infrastructure projects.
Proposing a constitutional amendment providing for the dedication of certain sales and use tax revenue to a special fund established in the state treasury to pay for water infrastructure in this state.
Proposing a constitutional amendment to permit additional uses of certain dedicated general revenue transferred each fiscal year to the state highway fund.
Proposing a constitutional amendment to permit additional uses of certain dedicated general revenue transferred each fiscal year to the state highway fund.
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.
Proposing a constitutional amendment creating the broadband infrastructure fund to expand high-speed broadband access and assist in the financing of connectivity projects.
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.