| 1 | 1 | | By: Goodwin H.B. No. 4239 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the allocation and dedication of certain revenue to the |
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| 7 | 7 | | foundation school fund, the economic stabilization fund, and the |
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| 8 | 8 | | state highway fund. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 316.093, Government Code, is amended by |
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| 11 | 11 | | amending Subsections (c) and (f) and adding Subsections (d) and |
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| 12 | 12 | | (e-1) to read as follows: |
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| 13 | 13 | | (c) If under Section 316.092 a sufficient balance has not |
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| 14 | 14 | | been adopted for the comptroller to consider under this section, |
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| 15 | 15 | | the comptroller shall adjust the allocation of amounts to be |
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| 16 | 16 | | transferred to the fund and to the state highway fund provided by |
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| 17 | 17 | | Section 49-g(c), Article III, Texas Constitution, so that the total |
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| 18 | 18 | | of those amounts is transferred to the foundation school fund |
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| 19 | 19 | | [economic stabilization fund, except that the comptroller shall |
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| 20 | 20 | | reduce a transfer made under this subsection as necessary to |
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| 21 | 21 | | prevent the amount in the fund from exceeding the limit in effect |
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| 22 | 22 | | for that biennium under Section 49-g(g) of that article]. |
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| 23 | 23 | | (d) If the sum described by Subsection (a) is equal to or |
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| 24 | 24 | | greater than the sufficient balance adopted under Section 316.092, |
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| 25 | 25 | | the comptroller shall adjust the allocation provided by Section |
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| 26 | 26 | | 49-g(c-1), Article III, Texas Constitution, of the amounts to be |
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| 27 | 27 | | transferred under Section 49-g(c) of that article so that one-half |
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| 28 | 28 | | of the total of the amounts is allocated to be transferred to the |
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| 29 | 29 | | state highway fund, a portion of that total is allocated to be |
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| 30 | 30 | | transferred to the economic stabilization fund only to the extent a |
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| 31 | 31 | | transfer is necessary for that fund's balance to equal the adopted |
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| 32 | 32 | | sufficient balance, and the remainder of that total, if any, is |
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| 33 | 33 | | allocated to be transferred to the foundation school fund. |
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| 34 | 34 | | (e-1) Money allocated to be transferred to the foundation |
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| 35 | 35 | | school fund under this section may be used only for the purposes of |
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| 36 | 36 | | public primary and secondary education. |
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| 37 | 37 | | (f) Subsections (a), (b), [and] (c), (d), and (e-1) and this |
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| 38 | 38 | | subsection expire December 31, 2024. |
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| 39 | 39 | | SECTION 2. This Act takes effect January 1, 2020, but only |
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| 40 | 40 | | if the constitutional amendment proposed by the 86th Legislature, |
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| 41 | 41 | | Regular Session, 2019, authorizing the legislature to provide for |
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| 42 | 42 | | certain revenues otherwise allocated for transfer to the economic |
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| 43 | 43 | | stabilization fund to be used for purposes related to public |
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| 44 | 44 | | primary and secondary education is approved by the voters. If that |
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| 45 | 45 | | amendment is not approved by the voters, this Act has no effect. |
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