Texas 2021 - 87th Regular

Texas House Bill HJR21 Compare Versions

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Old	New	Differences
1	1	87R1227 CJC-D
2	2	By: Craddick H.J.R. No. 21
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5	5	A JOINT RESOLUTION
6	6	proposing a constitutional amendment providing for the creation of
7	7	and use of money in the Grow Texas fund and allocating certain
8	8	general revenues to that fund, the economic stabilization fund, and
9	9	the state highway fund.
10	10	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 49-g, Article III, Texas Constitution,
12	12	is amended by amending Subsections (c), (c-1), and (c-2) and adding
13	13	Subsection (c-3) to read as follows:
14	14	(c) Not later than the 90th day of each fiscal year, the
15	15	comptroller of public accounts shall transfer from the general
16	16	revenue fund to the economic stabilization fund, [and] the state
17	17	highway fund, and the Grow Texas fund the sum of the amounts
18	18	described by Subsections (d) and (e) of this section, to be
19	19	allocated as provided by Subsections (c-1), [and] (c-2), and (c-3)
20	20	of this section. However, if necessary and notwithstanding the
21	21	allocations prescribed by Subsections (c-1), [and] (c-2), and (c-3)
22	22	of this section, the comptroller shall reduce proportionately the
23	23	amounts described by Subsections (d) and (e) of this section to be
24	24	transferred and allocated to the economic stabilization fund to
25	25	prevent the amount in that fund from exceeding the limit in effect
26	26	for that biennium under Subsection (g) of this section. Revenue
27	27	transferred to the state highway fund under this subsection may be
28	28	used only for constructing, maintaining, and acquiring
29	29	rights-of-way for public roadways other than toll roads.
30	30	(c-1) Of the sum of the amounts described by Subsections (d)
31	31	and (e) of this section and required to be transferred from the
32	32	general revenue fund under Subsection (c) of this section, the
33	33	comptroller shall allocate one-half to the economic stabilization
34	34	fund and the remainder to the state highway fund, except as provided
35	35	by Subsections [Subsection] (c-2) and (c-3) of this section.
36	36	(c-2) The legislature by general law shall provide for a
37	37	procedure by which the allocations prescribed by Subsections (c-1)
38	38	and (c-3) [allocation of the sum of the amounts described by
39	39	Subsections (d) and (e)] of this section may be adjusted to provide
40	40	for a transfer to the economic stabilization fund of an amount
41	41	greater than the allocations [allocation] provided for under those
42	42	subsections [Subsection (c-1) of this section with the remainder of
43	43	that sum, if any, allocated for transfer to the state highway fund].
44	44	The allocations [allocation] made as provided by that general law
45	45	are [is] binding on the comptroller for the purposes of the
46	46	transfers required by Subsection (c) of this section.
47	47	(c-3) Each time the comptroller determines the amount of
48	48	general revenue to be allocated for transfer to the economic
49	49	stabilization fund under Subsection (c-1) of this section, the
50	50	comptroller shall reduce by 12 percent the amount of that transfer
51	51	and at the same time transfer to the credit of the Grow Texas fund an
52	52	amount of general revenue equal to the amount by which the
53	53	comptroller reduced the amount of the transfer to the economic
54	54	stabilization fund, provided that the total amount transferred to
55	55	the Grow Texas fund under this subsection may not exceed $250
56	56	million in a state fiscal biennium. For purposes of determining the
57	57	amount of the transfer to the Grow Texas fund under this subsection,
58	58	the comptroller may not consider any amount by which the amount
59	59	transferred to the economic stabilization fund is increased under
60	60	Subsection (c-2) of this section.
61	61	SECTION 2. Article III, Texas Constitution, is amended by
62	62	adding Section 49-g-1 to read as follows:
63	63	Sec. 49-g-1. (a) The Grow Texas fund is established as a
64	64	fund in the state treasury.
65	65	(b) The Grow Texas fund consists of:
66	66	(1) money transferred to the fund under Section 49-g
67	67	of this article;
68	68	(2) money appropriated to the fund by the legislature;
69	69	(3) money that the legislature by statute dedicates
70	70	for deposit to the credit of the fund;
71	71	(4) gifts or grants contributed to the fund; and
72	72	(5) investment earnings and interest earned on amounts
73	73	credited to the fund.
74	74	(c) The legislature may appropriate money from the Grow
75	75	Texas fund only for use in areas of the state from which oil and gas
76	76	are produced and only to address infrastructure needs in the manner
77	77	provided by general law in areas of the state determined by the
78	78	legislature to be significantly affected by oil and gas production.
79	79	General law enacted under this subsection may provide for the
80	80	appropriation of money in the fund to make grants to state agencies
81	81	and political subdivisions of the state for a purpose authorized by
82	82	this subsection.
83	83	(d) On the last day of each state fiscal biennium, the
84	84	comptroller of public accounts shall transfer any unobligated and
85	85	unappropriated money that remains in the fund on that date to the
86	86	economic stabilization fund.
87	87	(e) The Grow Texas fund commission is created to administer
88	88	money appropriated from the fund and to advise the legislature on
89	89	making appropriations from the fund. The commission consists of
90	90	seven members who serve four-year terms beginning September 1 of
91	91	each odd-numbered year. The lieutenant governor shall appoint two
92	92	members of the senate to the commission. The speaker of the house
93	93	of representatives shall appoint two members of the house of
94	94	representatives to the commission. The governor shall appoint
95	95	three members of the public to the commission and shall designate
96	96	the presiding officer of the commission. A vacancy on the
97	97	commission shall be filled in the same manner as the original
98	98	appointment for the unexpired term. Members of the commission are
99	99	not entitled to compensation for service on the commission but are
100	100	entitled to reimbursement of expenses incurred while performing
101	101	duties as commission members.
102	102	SECTION 3. The following temporary provision is added to
103	103	the Texas Constitution:
104	104	TEMPORARY PROVISION. (a) This temporary provision applies
105	105	to the constitutional amendment proposed by the 87th Legislature,
106	106	Regular Session, 2021, providing for the creation of the Grow Texas
107	107	fund, dedicating the money in that fund to benefit areas of the
108	108	state from which oil and gas are produced, and providing for the
109	109	transfer of certain general revenues to that fund, the economic
110	110	stabilization fund, and the state highway fund.
111	111	(b) Section 49-g-1, Article III, of this constitution, as
112	112	added by the amendment, and the amendment to Section 49-g, Article
113	113	III, of this constitution, take effect September 1, 2023.
114	114	(c) This temporary provision expires September 1, 2024.
115	115	SECTION 4. This proposed constitutional amendment shall be
116	116	submitted to the voters at an election to be held November 2, 2021.
117	117	The ballot shall be printed to permit voting for or against the
118	118	proposition: "The constitutional amendment providing for the
119	119	creation of the Grow Texas fund, dedicating the money in that fund
120	120	to benefit areas of the state from which oil and gas are produced,
121	121	and providing for the transfer of certain general revenues to that
122	122	fund, the economic stabilization fund, and the state highway fund."