88R11633 KJE-D
By: Martinez Fischer H.J.R. No. 186
A JOINT RESOLUTION
proposing a constitutional amendment providing for the creation of
the junior college endowment fund and dedicating the interest and
other investment income from money in the fund to reduce the cost of
tuition at public junior colleges in this state.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article VII, Texas Constitution, is amended by
adding Section 22 to read as follows:
Sec. 22. (a) The junior college endowment fund is
established for the purpose of providing a dedicated source of
funding to reduce the cost of tuition at public junior colleges in
this state.
(b) The fund consists of:
(1) money transferred or deposited to the credit of
the fund; and
(2) any interest or other earnings attributable to the
investment of money in the fund.
(c) The comptroller of public accounts shall administer the
fund.
(d) The legislature may not appropriate the principal
balance of the fund for any purpose.
(e) The legislature may appropriate the interest and other
earnings attributable to the investment of money in the fund only
for the purpose of reducing the cost of tuition at public junior
colleges in this state.
(f) On January 1, 2024, the comptroller of public accounts
shall transfer $2 billion of the unencumbered balance of the
general revenue fund that exists on that date to the junior college
endowment fund. This subsection expires December 31, 2024.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2023.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment providing for the
creation of the junior college endowment fund and dedicating the
interest and other investment income from money in the fund to
reduce the cost of tuition at public junior colleges in this state."