Texas 2019 - 86th Regular

Texas House Bill HJR82 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		86R28283 CJC-D
2	2		By: Craddick, Landgraf, Nevárez, Paddie, H.J.R. No. 82
3		-	Guillen, et al.
	3	+	et al.
	4	+	Substitute the following for H.J.R. No. 82:
	5	+	By: Capriglione C.S.H.J.R. No. 82
4	6
5	7
6	8		A JOINT RESOLUTION
7	9		proposing a constitutional amendment providing for the creation of
8	10		and use of money in the generate recurring oil wealth for Texas
9	11		(GROW Texas) fund and allocating certain general revenues to that
10	12		fund, the economic stabilization fund, and the state highway fund.
11	13		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	14		SECTION 1. Section 49-g, Article III, Texas Constitution,
13	15		is amended by amending Subsections (c), (c-1), and (c-2) and adding
14	16		Subsection (c-3) to read as follows:
15	17		(c) Not later than the 90th day of each fiscal year, the
16	18		comptroller of public accounts shall transfer from the general
17	19		revenue fund to the economic stabilization fund, [and] the state
18	20		highway fund, and the generate recurring oil wealth for Texas (GROW
19	21		Texas) fund the sum of the amounts described by Subsections (d) and
20	22		(e) of this section, to be allocated as provided by Subsections
21	23		(c-1), [and] (c-2), and (c-3) of this section. However, if
22	24		necessary and notwithstanding the allocations prescribed by
23	25		Subsections (c-1), [and] (c-2), and (c-3) of this section, the
24	26		comptroller shall reduce proportionately the amounts described by
25	27		Subsections (d) and (e) of this section to be transferred and
26	28		allocated to the economic stabilization fund to prevent the amount
27	29		in that fund from exceeding the limit in effect for that biennium
28	30		under Subsection (g) of this section. Revenue transferred to the
29	31		state highway fund under this subsection may be used only for
30	32		constructing, maintaining, and acquiring rights-of-way for public
31	33		roadways other than toll roads.
32	34		(c-1) Of the sum of the amounts described by Subsections (d)
33	35		and (e) of this section and required to be transferred from the
34	36		general revenue fund under Subsection (c) of this section, the
35	37		comptroller shall allocate one-half to the economic stabilization
36	38		fund and the remainder to the state highway fund, except as provided
37	39		by Subsections [Subsection] (c-2) and (c-3) of this section.
38	40		(c-2) The legislature by general law shall provide for a
39	41		procedure by which the allocations prescribed by Subsections (c-1)
40	42		and (c-3) [allocation of the sum of the amounts described by
41	43		Subsections (d) and (e)] of this section may be adjusted to provide
42	44		for a transfer to the economic stabilization fund of an amount
43	45		greater than the allocations [allocation] provided for under those
44	46		subsections [Subsection (c-1) of this section with the remainder of
45	47		that sum, if any, allocated for transfer to the state highway fund].
46	48		The allocations [allocation] made as provided by that general law
47	49		are [is] binding on the comptroller for the purposes of the
48	50		transfers required by Subsection (c) of this section.
49	51		(c-3) Each time the comptroller determines the amount of
50	52		general revenue to be allocated for transfer to the economic
51	53		stabilization fund under Subsection (c-1) of this section, the
52	54		comptroller shall reduce by 12 percent the amount of that transfer
53	55		and at the same time transfer to the credit of the generate
54	56		recurring oil wealth for Texas (GROW Texas) fund an amount of
55	57		general revenue equal to the amount by which the comptroller
56	58		reduced the amount of the transfer to the economic stabilization
57	59		fund, provided that the total amount transferred to the generate
58	60		recurring oil wealth for Texas (GROW Texas) fund under this
59	61		subsection may not exceed $250 million in a state fiscal biennium.
60	62		For purposes of determining the amount of the transfer to the
61	63		generate recurring oil wealth for Texas (GROW Texas) fund under
62	64		this subsection, the comptroller may not consider any amount by
63	65		which the amount transferred to the economic stabilization fund is
64	66		increased under Subsection (c-2) of this section.
65	67		SECTION 2. Article III, Texas Constitution, is amended by
66	68		adding Section 49-g-3 to read as follows:
67	69		Sec. 49-g-3. (a) The generate recurring oil wealth for
68	70		Texas (GROW Texas) fund is established as a fund in the state
69	71		treasury.
70	72		(b) The generate recurring oil wealth for Texas (GROW Texas)
71	73		fund consists of:
72	74		(1) money transferred to the fund under Section 49-g
73	75		of this article;
74	76		(2) money appropriated to the fund by the legislature;
75	77		(3) money that the legislature by statute dedicates
76	78		for deposit to the credit of the fund;
77	79		(4) gifts or grants contributed to the fund; and
78	80		(5) investment earnings and interest earned on amounts
79	81		credited to the fund.
80	82		(c) The legislature may appropriate money from the generate
81	83		recurring oil wealth for Texas (GROW Texas) fund only for use in
82	84		areas of the state from which oil and gas are produced and only to
83	85		address infrastructure needs in the manner provided by general law
84	86		in areas of the state determined by the legislature to be
85	87		significantly affected by oil and gas production. General law
86	88		enacted under this subsection may provide for the appropriation of
87	89		money in the fund to make grants to state agencies and political
88	90		subdivisions of the state for a purpose authorized by this
89	91		subsection.
90	92		(d) On the last day of each state fiscal biennium, the
91	93		comptroller of public accounts shall transfer any unobligated and
92	94		unappropriated money that remains in the fund on that date to the
93	95		economic stabilization fund.
94	96		(e) The generate recurring oil wealth for Texas (GROW Texas)
95	97		fund commission is created to administer money appropriated from
96	98		the fund and to advise the legislature on making appropriations
97	99		from the fund. The commission consists of seven members who serve
98	100		four-year terms beginning September 1 of each odd-numbered year.
99	101		The lieutenant governor shall appoint two members of the senate to
100	102		the commission. The speaker of the house of representatives shall
101	103		appoint two members of the house of representatives to the
102	104		commission. The governor shall appoint three members of the public
103	105		to the commission and shall designate the presiding officer of the
104	106		commission. A vacancy on the commission shall be filled in the same
105	107		manner as the original appointment for the unexpired term. Members
106	108		of the commission are not entitled to compensation for service on
107	109		the commission but are entitled to reimbursement of expenses
108	110		incurred while performing duties as commission members.
109	111		SECTION 3. The following temporary provision is added to
110	112		the Texas Constitution:
111	113		TEMPORARY PROVISION. (a) This temporary provision applies
112	114		to the constitutional amendment proposed by the 86th Legislature,
113	115		Regular Session, 2019, providing for the creation of the generate
114	116		recurring oil wealth for Texas (GROW Texas) fund, dedicating the
115	117		money in that fund to benefit areas of the state from which oil and
116	118		gas are produced, and providing for the transfer of certain general
117	119		revenues to that fund, the economic stabilization fund, and the
118	120		state highway fund.
119	121		(b) Section 49-g-3, Article III, of this constitution, as
120	122		added by the amendment, and the amendment to Section 49-g, Article
121	123		III, of this constitution, take effect September 1, 2021.
122	124		(c) This temporary provision expires September 1, 2022.
123	125		SECTION 4. This proposed constitutional amendment shall be
124	126		submitted to the voters at an election to be held November 5, 2019.
125	127		The ballot shall be printed to permit voting for or against the
126	128		proposition: "The constitutional amendment providing for the
127	129		creation of the generate recurring oil wealth for Texas (GROW
128	130		Texas) fund, dedicating the money in that fund to benefit areas of
129	131		the state from which oil and gas are produced, and providing for the
130	132		transfer of certain general revenues to that fund, the economic
131	133		stabilization fund, and the state highway fund."