| 1 | 1 | | 85S12188 MK-D |
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| 2 | 2 | | By: Huberty H.J.R. No. 53 |
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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 transferring certain surplus |
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| 7 | 7 | | state revenue in the economic stabilization fund and dedicating |
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| 8 | 8 | | that revenue to public education. |
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| 9 | 9 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 49-g, Article III, Texas Constitution, |
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| 11 | 11 | | is amended by adding Subsection (j-1) to read as follows: |
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| 12 | 12 | | (j-1) On the 91st day of each state fiscal year, the |
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| 13 | 13 | | comptroller shall determine the total unencumbered balance of the |
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| 14 | 14 | | economic stabilization fund. If on that date the unencumbered |
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| 15 | 15 | | balance of the fund exceeds $10 billion, the comptroller shall |
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| 16 | 16 | | immediately transfer the amount in excess of $10 billion from the |
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| 17 | 17 | | fund to the credit of the foundation school fund in the general |
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| 18 | 18 | | revenue fund in the state treasury or to a successor fund or account |
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| 19 | 19 | | in the state treasury. Money transferred under this subsection may |
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| 20 | 20 | | be appropriated only to provide for the support and maintenance of |
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| 21 | 21 | | an efficient system of public free schools. |
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| 22 | 22 | | SECTION 2. The following temporary provision is added to |
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| 23 | 23 | | the Texas Constitution: |
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| 24 | 24 | | TEMPORARY PROVISION. (a) This temporary provision applies |
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| 25 | 25 | | to the constitutional amendment proposed by the 85th Legislature, |
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| 26 | 26 | | 1st Called Session, 2017, transferring certain surplus state |
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| 27 | 27 | | revenue in the economic stabilization fund and dedicating that |
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| 28 | 28 | | revenue to public education. |
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| 29 | 29 | | (b) Section 49-g(j-1), Article III, of this constitution, |
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| 30 | 30 | | as added by the amendment, applies beginning with the state fiscal |
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| 31 | 31 | | year that begins September 1, 2018. |
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| 32 | 32 | | (c) This temporary provision expires January 1, 2020. |
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| 33 | 33 | | SECTION 3. This proposed constitutional amendment shall be |
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| 34 | 34 | | submitted to the voters at an election to be held November 7, 2017. |
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| 35 | 35 | | The ballot shall be printed to permit voting for or against the |
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| 36 | 36 | | proposition: "The constitutional amendment transferring certain |
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| 37 | 37 | | surplus state revenue in the economic stabilization fund and |
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| 38 | 38 | | dedicating that revenue to public education." |
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