86R28283 CJC-D
By: Craddick, Landgraf, Nevárez, Paddie, H.J.R. No. 82
Guillen, et al.
A JOINT RESOLUTION
proposing a constitutional amendment providing for the creation of
and use of money in the generate recurring oil wealth for Texas
(GROW Texas) fund and allocating certain general revenues to that
fund, the economic stabilization fund, and the state highway fund.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49-g, Article III, Texas Constitution,
is amended by amending Subsections (c), (c-1), and (c-2) and adding
Subsection (c-3) to read as follows:
(c) Not later than the 90th day of each fiscal year, the
comptroller of public accounts shall transfer from the general
revenue fund to the economic stabilization fund, [and] the state
highway fund, and the generate recurring oil wealth for Texas (GROW
Texas) fund the sum of the amounts described by Subsections (d) and
(e) of this section, to be allocated as provided by Subsections
(c-1), [and] (c-2), and (c-3) of this section. However, if
necessary and notwithstanding the allocations prescribed by
Subsections (c-1), [and] (c-2), and (c-3) of this section, the
comptroller shall reduce proportionately the amounts described by
Subsections (d) and (e) of this section to be transferred and
allocated to the economic stabilization fund to prevent the amount
in that fund from exceeding the limit in effect for that biennium
under Subsection (g) of this section. Revenue transferred to the
state highway fund under this subsection may be used only for
constructing, maintaining, and acquiring rights-of-way for public
roadways other than toll roads.
(c-1) Of the sum of the amounts described by Subsections (d)
and (e) of this section and required to be transferred from the
general revenue fund under Subsection (c) of this section, the
comptroller shall allocate one-half to the economic stabilization
fund and the remainder to the state highway fund, except as provided
by Subsections [Subsection] (c-2) and (c-3) of this section.
(c-2) The legislature by general law shall provide for a
procedure by which the allocations prescribed by Subsections (c-1)
and (c-3) [allocation of the sum of the amounts described by
Subsections (d) and (e)] of this section may be adjusted to provide
for a transfer to the economic stabilization fund of an amount
greater than the allocations [allocation] provided for under those
subsections [Subsection (c-1) of this section with the remainder of
that sum, if any, allocated for transfer to the state highway fund].
The allocations [allocation] made as provided by that general law
are [is] binding on the comptroller for the purposes of the
transfers required by Subsection (c) of this section.
(c-3) Each time the comptroller determines the amount of
general revenue to be allocated for transfer to the economic
stabilization fund under Subsection (c-1) of this section, the
comptroller shall reduce by 12 percent the amount of that transfer
and at the same time transfer to the credit of the generate
recurring oil wealth for Texas (GROW Texas) fund an amount of
general revenue equal to the amount by which the comptroller
reduced the amount of the transfer to the economic stabilization
fund, provided that the total amount transferred to the generate
recurring oil wealth for Texas (GROW Texas) fund under this
subsection may not exceed $250 million in a state fiscal biennium.
For purposes of determining the amount of the transfer to the
generate recurring oil wealth for Texas (GROW Texas) fund under
this subsection, the comptroller may not consider any amount by
which the amount transferred to the economic stabilization fund is
increased under Subsection (c-2) of this section.
SECTION 2. Article III, Texas Constitution, is amended by
adding Section 49-g-3 to read as follows:
Sec. 49-g-3. (a) The generate recurring oil wealth for
Texas (GROW Texas) fund is established as a fund in the state
treasury.
(b) The generate recurring oil wealth for Texas (GROW Texas)
fund consists of:
(1) money transferred to the fund under Section 49-g
of this article;
(2) money appropriated to the fund by the legislature;
(3) money that the legislature by statute dedicates
for deposit to the credit of the fund;
(4) gifts or grants contributed to the fund; and
(5) investment earnings and interest earned on amounts
credited to the fund.
(c) The legislature may appropriate money from the generate
recurring oil wealth for Texas (GROW Texas) fund only for use in
areas of the state from which oil and gas are produced and only to
address infrastructure needs in the manner provided by general law
in areas of the state determined by the legislature to be
significantly affected by oil and gas production. General law
enacted under this subsection may provide for the appropriation of
money in the fund to make grants to state agencies and political
subdivisions of the state for a purpose authorized by this
subsection.
(d) On the last day of each state fiscal biennium, the
comptroller of public accounts shall transfer any unobligated and
unappropriated money that remains in the fund on that date to the
economic stabilization fund.
(e) The generate recurring oil wealth for Texas (GROW Texas)
fund commission is created to administer money appropriated from
the fund and to advise the legislature on making appropriations
from the fund. The commission consists of seven members who serve
four-year terms beginning September 1 of each odd-numbered year.
The lieutenant governor shall appoint two members of the senate to
the commission. The speaker of the house of representatives shall
appoint two members of the house of representatives to the
commission. The governor shall appoint three members of the public
to the commission and shall designate the presiding officer of the
commission. A vacancy on the commission shall be filled in the same
manner as the original appointment for the unexpired term. Members
of the commission are not entitled to compensation for service on
the commission but are entitled to reimbursement of expenses
incurred while performing duties as commission members.
SECTION 3. The following temporary provision is added to
the Texas Constitution:
TEMPORARY PROVISION. (a) This temporary provision applies
to the constitutional amendment proposed by the 86th Legislature,
Regular Session, 2019, providing for the creation of the generate
recurring oil wealth for Texas (GROW Texas) fund, dedicating the
money in that fund to benefit areas of the state from which oil and
gas are produced, and providing for the transfer of certain general
revenues to that fund, the economic stabilization fund, and the
state highway fund.
(b) Section 49-g-3, Article III, of this constitution, as
added by the amendment, and the amendment to Section 49-g, Article
III, of this constitution, take effect September 1, 2021.
(c) This temporary provision expires September 1, 2022.
SECTION 4. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2019.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment providing for the
creation of the generate recurring oil wealth for Texas (GROW
Texas) fund, dedicating the money in that fund to benefit areas of
the state from which oil and gas are produced, and providing for the
transfer of certain general revenues to that fund, the economic
stabilization fund, and the state highway fund."