| 1 | 1 | | 85S10281 CJC-D |
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| 2 | 2 | | By: Darby H.B. No. 75 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to transferring to the property tax relief fund one-half |
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| 8 | 8 | | of any unencumbered balance of general revenue at the end of a state |
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| 9 | 9 | | fiscal biennium. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 403.109, Government Code, is amended by |
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| 12 | 12 | | adding Subsection (e) to read as follows: |
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| 13 | 13 | | (e) In addition to amounts deposited to the credit of the |
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| 14 | 14 | | property tax relief fund under other law, the comptroller shall, |
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| 15 | 15 | | not later than the 90th day of each state fiscal biennium, transfer |
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| 16 | 16 | | to the property tax relief fund one-half of any unencumbered |
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| 17 | 17 | | positive balance of general revenues on the last day of the |
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| 18 | 18 | | preceding state fiscal biennium. For purposes of this subsection, |
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| 19 | 19 | | general revenues are considered encumbered on the last day of a |
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| 20 | 20 | | state fiscal biennium only to the extent that general revenues are |
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| 21 | 21 | | subject to payment for particular identifiable and legally |
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| 22 | 22 | | enforceable obligations of this state that were incurred on or |
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| 23 | 23 | | before that day and intended to be paid out of appropriations for |
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| 24 | 24 | | that biennium. |
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| 25 | 25 | | SECTION 2. Section 403.109(e), Government Code, as added by |
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| 26 | 26 | | this Act, applies beginning with the unencumbered positive balance |
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| 27 | 27 | | of general revenues in the state treasury on the last day of the |
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| 28 | 28 | | state fiscal biennium ending August 31, 2019. |
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| 29 | 29 | | SECTION 3. This Act takes effect immediately if it receives |
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| 30 | 30 | | a vote of two-thirds of all the members elected to each house, as |
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| 31 | 31 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 32 | 32 | | Act does not receive the vote necessary for immediate effect, this |
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| 33 | 33 | | Act takes effect on the 91st day after the last day of the |
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| 34 | 34 | | legislative session. |
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