Texas 2017 - 85th 1st C.S.

Texas Senate Bill SJR12

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

The proposed amendment is expected to have a significant impact on state financial management. By allowing the allocation of excess funds toward these retirement systems and educational funds, SJR12 aims to provide a stronger financial foundation for state employees and education sectors. Additionally, it ensures that unappropriated and unobligated funds will eventually be transferred to both the Permanent School Fund and the Permanent University Fund, thereby supporting long-term educational funding.

Summary

SJR12 proposes a constitutional amendment aimed at managing excess revenue in Texas. Specifically, it seeks to dedicate certain excess revenue towards contributions to various retirement systems, including the Employees Retirement System and the Teacher Retirement System, as well as funding for the health benefit plan for retired education employees and their dependents. The proposed bill also mentions future contributions to significant funds such as the Texas Tomorrow Fund, the Permanent School Fund, and the Permanent University Fund. This dedication of funds is intended to ensure the financial stability and security of these entities.

Contention

Discussion surrounding SJR12 may involve concerns about fiscal responsibility and the prioritization of funding. Supporters argue that directing excess revenue to retirement systems is crucial for ensuring the sustainability of these benefits, especially given the increasing number of retirees. However, there may be opposition regarding the long-term impact on other state budget areas, with critics potentially questioning whether this revenue allocation detracts from other necessary public services or infrastructure developments in Texas.

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.