Texas 2019 - 86th Regular

Texas Senate Bill SJR72 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	86R12098 CJC-D
2	2	By: Bettencourt S.J.R. No. 72
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4	4
5	5	A JOINT RESOLUTION
6	6	proposing a constitutional amendment providing for the creation of
7	7	and use of money in the education enrichment fund; allocating
8	8	certain general revenues to that fund, the economic stabilization
9	9	fund, and the state highway fund.
10	10	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Sections 49-g(c), (c-1), (d), and (e), Article
12	12	III, Texas Constitution, are amended to read as follows:
13	13	(c) Not later than the 90th day of each fiscal year, the
14	14	comptroller of public accounts shall transfer from the general
15	15	revenue fund to the economic stabilization fund, [and] the state
16	16	highway fund, and the education enrichment fund the sum of the
17	17	amounts described by Subsections (d) and (e) of this section, to be
18	18	allocated as provided by Subsection [Subsections] (c-1) [and (c-2)]
19	19	of this section. However, if necessary and notwithstanding the
20	20	allocations prescribed by Subsection [Subsections] (c-1) [and
21	21	(c-2)] of this section, the comptroller shall reduce
22	22	proportionately the amounts described by Subsections (d) and (e) of
23	23	this section to be transferred and allocated to the economic
24	24	stabilization fund to prevent the amount in that fund from
25	25	exceeding the limit in effect for that biennium under Subsection
26	26	(g) of this section. Revenue transferred to the state highway fund
27	27	under this subsection may be used only for constructing,
28	28	maintaining, and acquiring rights-of-way for public roadways other
29	29	than toll roads.
30	30	(c-1) The comptroller shall allocate [Of] the sum of the
31	31	amounts described by Subsections (d) and (e) of this section and
32	32	required to be transferred from the general revenue fund under
33	33	Subsection (c) of this section in the manner provided by the
34	34	legislature by general law [, the comptroller shall allocate
35	35	one-half to the economic stabilization fund and the remainder to
36	36	the state highway fund, except as provided by Subsection (c-2) of
37	37	this section].
38	38	(d) If in the preceding year the state received from oil
39	39	production taxes a net amount greater than the net amount of oil
40	40	production taxes received by the state in the fiscal year ending
41	41	August 31, 1987, the comptroller shall transfer under Subsection
42	42	(c) of this section and allocate in accordance with Subsection
43	43	[Subsections] (c-1) [and (c-2)] of this section an amount equal to
44	44	75 percent of the difference between those amounts. The
45	45	comptroller shall retain the remaining 25 percent of the difference
46	46	as general revenue. In computing the net amount of oil production
47	47	taxes received, the comptroller may not consider refunds paid as a
48	48	result of oil overcharge litigation.
49	49	(e) If in the preceding year the state received from gas
50	50	production taxes a net amount greater than the net amount of gas
51	51	production taxes received by the state in the fiscal year ending
52	52	August 31, 1987, the comptroller shall transfer under Subsection
53	53	(c) of this section and allocate in accordance with Subsection
54	54	[Subsections] (c-1) [and (c-2)] of this section an amount equal to
55	55	75 percent of the difference between those amounts. The
56	56	comptroller shall retain the remaining 25 percent of the difference
57	57	as general revenue. For the purposes of this subsection, the
58	58	comptroller shall adjust the computation of revenues to reflect
59	59	only 12 months of collection.
60	60	SECTION 2. Article III, Texas Constitution, is amended by
61	61	adding Section 49-g-6 to read as follows:
62	62	Sec. 49-g-6. (a) The education enrichment fund is
63	63	established as a fund in the state treasury.
64	64	(b) The education enrichment fund consists of:
65	65	(1) money transferred to the fund under Section 49-g
66	66	of this article;
67	67	(2) money appropriated to the fund by the legislature;
68	68	(3) money that the legislature by statute dedicates
69	69	for deposit to the credit of the fund;
70	70	(4) gifts or grants contributed to the fund; and
71	71	(5) investment earnings and interest earned on amounts
72	72	credited to the fund.
73	73	(c) The legislature may appropriate money from the
74	74	education enrichment fund only to provide funding for primary and
75	75	secondary education.
76	76	SECTION 3. Section 49-g(c-2), Article III, Texas
77	77	Constitution, is repealed.
78	78	SECTION 4. The following temporary provision is added to
79	79	the Texas Constitution:
80	80	TEMPORARY PROVISION. (a) This temporary provision applies
81	81	to the constitutional amendment proposed by the 86th Legislature,
82	82	Regular Session, 2019, providing for the creation of the education
83	83	enrichment fund, dedicating the money in that fund for primary and
84	84	secondary education, and providing for the transfer of certain
85	85	general revenues to that fund, the economic stabilization fund, and
86	86	the state highway fund.
87	87	(b) Section 49-g-6, Article III, of this constitution, as
88	88	added by the amendment, and the amendments to Section 49-g, Article
89	89	III, of this constitution, take effect January 1, 2020.
90	90	(c) This temporary provision expires January 1, 2021.
91	91	SECTION 5. This proposed constitutional amendment shall be
92	92	submitted to the voters at an election to be held November 5, 2019.
93	93	The ballot shall be printed to permit voting for or against the
94	94	proposition: "The constitutional amendment providing for the
95	95	creation of the education enrichment fund, dedicating the money in
96	96	that fund for primary and secondary education, and providing for
97	97	the transfer of certain general revenues to that fund, the economic
98	98	stabilization fund, and the state highway fund."