Texas 2023 - 88th Regular

Texas House Bill HJR169 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		88R20613 JAM-F
2		-	By: Clardy, Rogers, King of Uvalde, Price, H.J.R. No. 169
3		-	Burrows, et al.
	2	+	By: Clardy, Rogers H.J.R. No. 169
	3	+	Substitute the following for H.J.R. No. 169:
	4	+	By: King of Uvalde C.S.H.J.R. No. 169
4	5
5	6
6	7		A JOINT RESOLUTION
7	8		proposing a constitutional amendment providing for the dedication
8	9		of certain sales and use tax revenue to a special fund established
9	10		in the state treasury to pay for water infrastructure in this state.
10	11		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	12		SECTION 1. Article III, Texas Constitution, is amended by
12	13		adding Section 49-d-16 to read as follows:
13	14		Sec. 49-d-16. (a) The Texas Water Fund is created as a
14	15		special fund in the state treasury outside the general revenue
15	16		fund. Money in the Texas Water Fund is administered by the Texas
16	17		Water Development Board or that board's successor in function and
17	18		may be used only as provided by general law by the Texas Water
18	19		Development Board or that board's successor in function.
19	20		(b) The administrator of the Texas Water Fund may establish
20	21		separate accounts in the fund as necessary to administer the fund or
21	22		authorized projects.
22	23		(c) The legislature by general law may authorize the
23	24		administrator of the Texas Water Fund to issue bonds and enter into
24	25		related credit agreements that are payable only from all revenues
25	26		available to the Texas Water Fund.
26	27		(d) The administrator of the Texas Water Fund shall provide
27	28		written notice to the Legislative Budget Board or that board's
28	29		successor in function before issuing a revenue bond pursuant to
29	30		this section or entering into a related credit agreement that is
30	31		payable from revenue deposited to the credit of the fund and shall
31	32		provide a copy of the proposed bond or agreement to the Legislative
32	33		Budget Board or that board's successor in function for
33	34		approval. The proposed bond or agreement shall be considered to be
34	35		approved unless the Legislative Budget Board or that board's
35	36		successor in function issues a written disapproval not later than
36	37		the 21st day after the date on which the staff of that board
37	38		receives the submission.
38	39		(e) The Texas Water Fund consists of:
39	40		(1) money transferred or deposited to the fund as
40	41		provided by Section 7-c, Article VIII, of this constitution;
41	42		(2) appropriations made to the fund by the
42	43		legislature;
43	44		(3) gifts and grants, including grants from the
44	45		federal government and other organizations, made to the fund;
45	46		(4) all interest, dividends, and other income of the
46	47		fund;
47	48		(5) the proceeds from the sale of bonds, including
48	49		revenue bonds issued under this section by the administrator of the
49	50		Texas Water Fund for the purpose of providing money for the fund;
50	51		and
51	52		(6) repayments of loans made from the fund.
52	53		(f) Money from the Texas Water Fund may be used as provided
53	54		by general law for the purpose of:
54	55		(1) making grants or loans for water infrastructure
55	56		projects; and
56	57		(2) disbursing money to another fund or account
57	58		administered by the Texas Water Development Board or that board's
58	59		successor in function.
59	60		(g) The legislature by general law shall provide for the
60	61		manner in which the assets of the Texas Water Fund may be used,
61	62		subject to the limitations provided by this section. The
62	63		legislature by general law may provide for costs of the Texas Water
63	64		Fund to be paid from that fund.
64	65		(h) In each fiscal year in which amounts become due under
65	66		the revenue bonds or agreements authorized by this section, the
66	67		administrator of the Texas Water Fund shall set aside from revenue
67	68		deposited to the credit of the Texas Water Fund in that fiscal year
68	69		an amount that is sufficient to pay:
69	70		(1) the principal of and interest on the bonds that
70	71		mature or become due during the fiscal year; and
71	72		(2) any cost related to the bonds, including payments
72	73		under related credit agreements that become due during that fiscal
73	74		year.
74	75		(i) Any obligations authorized by general law to be issued
75	76		by the administrator of the Texas Water Fund pursuant to this
76	77		section are special obligations payable solely from amounts in the
77	78		Texas Water Fund. Obligations issued by the Texas Water
78	79		Development Board or that board's successor in function pursuant to
79	80		this section may not be a constitutional state debt payable from the
80	81		general revenue of the state.
81	82		(j) Any dedication or appropriation of revenue to the credit
82	83		of the Texas Water Fund may not be modified so as to impair any
83	84		outstanding bonds secured by a pledge of that revenue unless
84	85		provisions have been made for a full discharge of those bonds.
85	86		(k) Money in the Texas Water Fund is dedicated by this
86	87		constitution for purposes of Section 22, Article VIII, of this
87	88		constitution.
88	89		(l) This section is intended only to establish a basic
89	90		framework for and not to be a comprehensive treatment of the Texas
90	91		Water Fund. The legislature by law may implement and effectuate the
91	92		design and objects of this section, and may delegate duties,
92	93		responsibilities, functions, and authority to the Texas Water
93	94		Development Board or that board's successor in function as the
94	95		legislature considers necessary.
95	96		SECTION 2. Section 7-c, Article VIII, Texas Constitution,
96	97		is amended by adding Subsections (b-1) and (d-1) to read as follows:
97	98		(b-1) Subject to Subsection (d-1) of this section,
98	99		beginning with the state fiscal year beginning September 1, 2023,
99	100		in each state fiscal year, the comptroller of public accounts shall
100	101		deposit to the credit of the Texas Water Fund $250 million of the
101	102		net revenue derived from the imposition of the state sales and use
102	103		tax on the sale, storage, use, or other consumption in this state of
103	104		taxable items under Chapter 151, Tax Code, or its successor, that
104	105		exceeds the amount of $30.5 billion of that revenue coming into the
105	106		treasury.
106	107		(d-1) The legislature by adoption of a resolution approved
107	108		by a record vote of two-thirds of the members of each house of the
108	109		legislature may direct the comptroller of public accounts to reduce
109	110		the amount of money deposited to the credit of the Texas Water Fund
110	111		under Subsection (b-1) of this section. The comptroller may be
111	112		directed to make that reduction only:
112	113		(1) in the state fiscal year in which the resolution is
113	114		adopted, or in either of the following two state fiscal years; and
114	115		(2) by an amount or percentage that does not result in
115	116		a reduction of more than 50 percent of the amount that would
116	117		otherwise be deposited to the fund in the affected state fiscal year
117	118		under Subsection (b-1) of this section.
118	119		SECTION 3. This proposed constitutional amendment shall be
119	120		submitted to the voters at an election to be held November 7, 2023.
120	121		The ballot shall be printed to permit voting for or against the
121	122		proposition: "The constitutional amendment providing for the
122	123		dedication of certain sales and use tax revenue to a special fund
123	124		established in the state treasury to pay for water infrastructure
124	125		in this state."