By: Goodwin H.B. No. 4239
A BILL TO BE ENTITLED
AN ACT
relating to the allocation and dedication of certain revenue to the
foundation school fund, the economic stabilization fund, and the
state highway fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 316.093, Government Code, is amended by
amending Subsections (c) and (f) and adding Subsections (d) and
(e-1) to read as follows:
(c) If under Section 316.092 a sufficient balance has not
been adopted for the comptroller to consider under this section,
the comptroller shall adjust the allocation of amounts to be
transferred to the fund and to the state highway fund provided by
Section 49-g(c), Article III, Texas Constitution, so that the total
of those amounts is transferred to the foundation school fund
[economic stabilization fund, except that the comptroller shall
reduce a transfer made under this subsection as necessary to
prevent the amount in the fund from exceeding the limit in effect
for that biennium under Section 49-g(g) of that article].
(d) If the sum described by Subsection (a) is equal to or
greater than the sufficient balance adopted under Section 316.092,
the comptroller shall adjust the allocation provided by Section
49-g(c-1), Article III, Texas Constitution, of the amounts to be
transferred under Section 49-g(c) of that article so that one-half
of the total of the amounts is allocated to be transferred to the
state highway fund, a portion of that total is allocated to be
transferred to the economic stabilization fund only to the extent a
transfer is necessary for that fund's balance to equal the adopted
sufficient balance, and the remainder of that total, if any, is
allocated to be transferred to the foundation school fund.
(e-1) Money allocated to be transferred to the foundation
school fund under this section may be used only for the purposes of
public primary and secondary education.
(f) Subsections (a), (b), [and] (c), (d), and (e-1) and this
subsection expire December 31, 2024.
SECTION 2. This Act takes effect January 1, 2020, but only
if the constitutional amendment proposed by the 86th Legislature,
Regular Session, 2019, authorizing the legislature to provide for
certain revenues otherwise allocated for transfer to the economic
stabilization fund to be used for purposes related to public
primary and secondary education is approved by the voters. If that
amendment is not approved by the voters, this Act has no effect.