S.B. No. 962
AN ACT
relating to the determination of the sufficient balance of the
economic stabilization fund for the purpose of allocating general
revenue to that fund and the state highway fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 316.092(e), Government Code, is amended
to read as follows:
(e) This section expires December 31, 2034 [2024].
SECTION 2. Sections 316.093(e) and (f), Government Code,
are amended to read as follows:
(e) For the purposes of Section 49-g(c-2), Article III,
Texas Constitution, the comptroller shall adjust the allocation
provided by Section 49-g(c-1) of that article of amounts to be
transferred to the fund and to the state highway fund under Section
49-g(c) of that article in a state fiscal year beginning on or after
September 1, 2035 [2025], so that the total of those amounts is
transferred to the 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.
(f) Subsections (a), (b), and (c) and this subsection expire
December 31, 2034 [2024].
SECTION 3. This Act takes effect September 1, 2019.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 962 passed the Senate on April
11, 2019, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 962 passed the House on
May 17, 2019, by the following vote: Yeas 140, Nays 1, two
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor