| 1 | 1 | | 85S11956 MK-D |
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| 2 | 2 | | By: Howard H.J.R. No. 52 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A JOINT RESOLUTION |
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| 6 | 6 | | proposing a constitutional amendment to allocate certain surplus |
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| 7 | 7 | | state revenue to the retired school employees group insurance fund. |
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| 8 | 8 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Section 49-g, Article III, Texas Constitution, |
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| 10 | 10 | | is amended by amending Subsections (c), (c-1), and (c-2) and adding |
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| 11 | 11 | | Subsection (c-3) to read as follows: |
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| 12 | 12 | | (c) Not later than the 90th day of each fiscal year, the |
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| 13 | 13 | | comptroller of public accounts shall transfer from the general |
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| 14 | 14 | | revenue fund to the economic stabilization fund, [and] the state |
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| 15 | 15 | | highway fund, and the retired school employees group insurance fund |
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| 16 | 16 | | administered by the Teacher Retirement System of Texas the sum of |
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| 17 | 17 | | the amounts described by Subsections (d) and (e) of this section, to |
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| 18 | 18 | | be allocated as provided by Subsections (c-1), [and] (c-2), and |
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| 19 | 19 | | (c-3) of this section. However, if necessary and notwithstanding |
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| 20 | 20 | | the allocations prescribed by Subsections (c-1), [and] (c-2), and |
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| 21 | 21 | | (c-3) of this section, the comptroller shall reduce proportionately |
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| 22 | 22 | | the amounts described by Subsections (d) and (e) of this section to |
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| 23 | 23 | | be transferred and allocated to the economic stabilization fund to |
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| 24 | 24 | | prevent the amount in that fund from exceeding the limit in effect |
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| 25 | 25 | | for that biennium under Subsection (g) of this section. Revenue |
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| 26 | 26 | | transferred to the state highway fund under this subsection may be |
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| 27 | 27 | | used only for constructing, maintaining, and acquiring |
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| 28 | 28 | | rights-of-way for public roadways other than toll roads. |
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| 29 | 29 | | (c-1) Of the sum of the amounts described by Subsections (d) |
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| 30 | 30 | | and (e) of this section and required to be transferred from the |
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| 31 | 31 | | general revenue fund under Subsection (c) of this section, the |
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| 32 | 32 | | comptroller shall allocate one-half to the economic stabilization |
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| 33 | 33 | | fund and the remainder to the state highway fund, except as provided |
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| 34 | 34 | | by Subsections [Subsection] (c-2) and (c-3) of this section. |
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| 35 | 35 | | (c-2) The legislature by general law shall provide for a |
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| 36 | 36 | | procedure by which the allocation of the sum of the amounts |
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| 37 | 37 | | described by Subsections (d) and (e) of this section may be adjusted |
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| 38 | 38 | | to provide for a transfer to the economic stabilization fund of an |
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| 39 | 39 | | amount greater than the allocation provided for under Subsection |
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| 40 | 40 | | (c-1) of this section with the remainder of that sum, if any, |
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| 41 | 41 | | allocated for transfer to the state highway fund or the retired |
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| 42 | 42 | | school employees group insurance fund, if applicable. The |
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| 43 | 43 | | allocation made as provided by that general law is binding on the |
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| 44 | 44 | | comptroller for the purposes of the transfers required by |
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| 45 | 45 | | Subsection (c) of this section. |
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| 46 | 46 | | (c-3) If the amount of revenue for a biennium that is |
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| 47 | 47 | | designated for transfer to the economic stabilization fund under |
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| 48 | 48 | | Subsections (b), (d), and (e) of this section exceeds the estimate |
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| 49 | 49 | | of the amount of the transfer to the fund that was made for that |
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| 50 | 50 | | biennium by the comptroller under Subsection (h) of this section, |
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| 51 | 51 | | the comptroller shall transfer any amount of that revenue in excess |
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| 52 | 52 | | of the estimated amount to the credit of the retired school |
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| 53 | 53 | | employees group insurance fund. |
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| 54 | 54 | | SECTION 2. This proposed constitutional amendment shall be |
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| 55 | 55 | | submitted to the voters at an election to be held November 7, 2017. |
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| 56 | 56 | | The ballot shall be printed to permit voting for or against the |
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| 57 | 57 | | proposition: "The constitutional amendment to allocate certain |
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| 58 | 58 | | surplus state revenue to the retired school employees group |
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| 59 | 59 | | insurance fund." |
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