Texas 2021 - 87th Regular

Texas House Bill HJR27

Caption

Proposing a constitutional amendment to reduce the allocation of certain general revenue to the economic stabilization fund and to use that revenue for certain science, technology, engineering, and mathematics (STEM) scholarships.

Impact

If enacted, HJR27 would reduce the funds available for the economic stabilization fund, which traditionally serves as a financial cushion for Texas during times of economic downturn. While proponents of the measure, including educational advocates, argue that reallocating these funds is a necessary investment in the state's future workforce and technological development, critics may raise concerns about the impact this funding reduction could have on the state's overall financial stability and ability to respond to economic emergencies.

Summary

HJR27 proposes a constitutional amendment aimed at modifying the allocation of certain general revenue in Texas. Specifically, it seeks to reduce the amount of revenue directed to the economic stabilization fund (often referred to as the 'rainy day fund') by a small percentage (0.01 percent) and redirect those funds to support scholarships in science, technology, engineering, and mathematics (STEM) for residents enrolled in undergraduate programs at public higher education institutions. The intent behind this amendment is to enhance access to crucial educational resources in STEM fields, which are seen as pivotal for driving future economic growth and innovation.

Contention

Throughout discussions surrounding HJR27, notable points of contention have emerged, particularly concerning the priorities set by the state regarding funding. Some legislators posited that reducing the economic stabilization fund could weaken the state’s financial security, especially during uncertain economic times. Others argue that investing in education and workforce development is critical to ensuring long-term economic sustainability and competitiveness. The debate also reflects broader ideological divides over state budgeting priorities and the relative importance of immediate financial reserves versus educational investments.

Companion Bills

TX HB557

Enabled by Relating to the establishment of the Science, Technology, Engineering, and Mathematics (STEM) Scholarship Program for certain students at public institutions of higher education.

Previously Filed As

TX HJR27

Proposing a constitutional amendment providing for the creation of and use of money in the Grow Texas fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

TX HJR1

Proposing a constitutional amendment creating the state school safety fund to provide ongoing financial support for projects that ensure the safety of public schools in this state and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

TX SJR41

Proposing a constitutional amendment lowering the maximum allowable amount of money in the economic stabilization fund and dedicating certain general revenue to reducing school district maintenance and operations ad valorem taxes.

TX HJR203

Proposing a constitutional amendment providing for the creation of the Texas legacy fund and the Texas legacy distribution fund, dedicating the Texas legacy distribution fund to certain state infrastructure projects or the reduction of certain long-term obligations, and providing for the transfer of certain general revenues to the economic stabilization fund, the Texas legacy fund, and the state highway fund.

TX HJR111

Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, and the property tax relief fund.

Similar Bills

No similar bills found.