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Texas House Bill HJR3

Texas 2023 - 88th Regular

Texas House Bill HJR3 Compare Versions

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1-H.J.R. No. 3
1+By: Bonnen of Galveston (Senate Sponsor - Huffman) H.J.R. No. 3
2+ (In the Senate - Received from the House April 18, 2023;
3+ April 20, 2023, read first time and referred to Committee on
4+ Finance; May 4, 2023, reported adversely, with favorable Committee
5+ Substitute by the following vote: Yeas 15, Nays 0; May 4, 2023,
6+ sent to printer.)
7+Click here to see the committee vote
8+ COMMITTEE SUBSTITUTE FOR H.J.R. No. 3 By: Huffman
29
310
4- A JOINT RESOLUTION
11+ COMMITTEE VOTE
12+ YeaNayAbsentPNV
13+ HuffmanX
14+ HinojosaX
15+ BettencourtX
16+ CampbellX
17+ CreightonX
18+ FloresX
19+ HallX
20+ HancockX
21+ HughesX
22+ KolkhorstX
23+ NicholsX
24+ PaxtonX
25+ PerryX
26+ SchwertnerX
27+ WestX
28+ WhitmireX
29+ ZaffiriniX
30+ HOUSE JOINT RESOLUTION
531 proposing a constitutional amendment relating to the Texas
632 University Fund, which provides funding to certain institutions of
733 higher education to achieve national prominence as major research
834 universities and drive the state economy.
935 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1036 SECTION 1. Section 49-g, Article III, Texas Constitution,
11- is amended by adding Subsections (p) and (q) to read as follows:
37+ is amended by adding Subsection (p) to read as follows:
1238 (p) On the first business day occurring on or after the 90th
13- day of each state fiscal year, an amount equal to the interest
14- income, dividends, and investment earnings attributable to the
15- economic stabilization fund for the preceding state fiscal year,
16- not to exceed the amount determined under Subsection (q) of this
17- section, is appropriated from the economic stabilization fund to
18- the comptroller of public accounts for the purpose of immediate
19- deposit to the credit of the Texas University Fund. For purposes of
20- this subsection, the amount of interest income, dividends, and
21- investment earnings attributable to the economic stabilization
22- fund for a state fiscal year is computed by:
23- (1) determining the amount of interest and dividends
24- due to the fund for that fiscal year, including any interest
25- credited to general revenue under Subsection (i) of this section;
39+ day of each state fiscal year, an amount, if the amount is greater
40+ than zero, equal to the lesser of $100 million or the interest and
41+ other earnings attributable to the investment of money in the
42+ economic stabilization fund for the preceding state fiscal year is
43+ appropriated from the economic stabilization fund to the
44+ comptroller of public accounts for the purpose of immediate deposit
45+ to the credit of the Texas University Fund. For purposes of this
46+ subsection, the amount of interest and other earnings attributable
47+ to the investment of money in the economic stabilization fund for a
48+ state fiscal year is computed by:
49+ (1) determining the amount of interest due to the fund
50+ for that fiscal year, including any interest credited to general
51+ revenue under Subsection (i) of this section;
2652 (2) adding to the amount determined under Subdivision
27- (1) of this subsection an amount equal to the increase, if any, in
28- the fair market value of the fund between the last day of that
29- fiscal year and the last day of the preceding state fiscal year; and
53+ (1) of this subsection an amount equal to the change in the fair
54+ market value of the fund between the last day of that fiscal year
55+ and the last day of the preceding state fiscal year; and
3056 (3) subtracting from the amount determined under
3157 Subdivision (2) of this subsection the amount of any expenses of
3258 managing the investments of money in the fund that are paid from the
3359 fund during that fiscal year.
34- (q) The amount of the appropriation made under Subsection
35- (p) of this section may not exceed:
36- (1) for the state fiscal year beginning September 1,
37- 2023, $100 million; or
38- (2) for a state fiscal year beginning on or after
39- September 1, 2024, the amount determined under this subsection for
40- the preceding state fiscal year adjusted by the increase, if any, in
41- the general price level during the preceding state fiscal year, as
42- determined by the comptroller of public accounts on the basis of
43- changes in the consumer price index published by the Bureau of Labor
44- Statistics of the United States Department of Labor or a successor
45- agency and not to exceed two percent per state fiscal year.
4660 SECTION 2. Section 20, Article VII, Texas Constitution, is
4761 amended by amending Subsections (a) and (g) and adding Subsection
4862 (i) to read as follows:
4963 (a) There is established the Texas University Fund
5064 [national research university fund] for the purpose of providing a
5165 dedicated, independent, and equitable source of funding to enable
5266 emerging research universities in this state to achieve national
5367 prominence as major research universities.
5468 (g) The legislature shall establish criteria by which a
5569 state university may become eligible to receive a portion of the
56- distributions from the fund. A state university that is entitled to
57- participate in dedicated funding provided by Section 18 of this
58- article is [becomes eligible to receive a portion of the
59- distributions from the fund in a state fiscal biennium remains
60- eligible to receive additional distributions from the fund in any
61- subsequent state fiscal biennium. The University of Texas at
62- Austin and Texas A&M University are] not eligible to receive money
63- from the fund.
70+ distributions from the fund. [A state university that becomes
71+ eligible to receive a portion of the distributions from the fund in
72+ a state fiscal biennium remains eligible to receive additional
73+ distributions from the fund in any subsequent state fiscal
74+ biennium.] The University of Texas at Austin and Texas A&M
75+ University are not eligible to receive money from the fund.
6476 (i) For purposes of Section 22, Article VIII, of this
6577 constitution:
6678 (1) money in the fund is dedicated by this
6779 constitution; and
6880 (2) an appropriation of state tax revenues for the
6981 purpose of depositing money to the credit of the fund is treated as
7082 if it were an appropriation of revenues dedicated by this
7183 constitution.
7284 SECTION 3. This proposed constitutional amendment shall be
7385 submitted to the voters at an election to be held November 7, 2023.
7486 The ballot shall be printed to permit voting for or against the
7587 proposition: "The constitutional amendment relating to the Texas
7688 University Fund, which provides funding to certain institutions of
7789 higher education to achieve national prominence as major research
7890 universities and drive the state economy."
79- ______________________________ ______________________________
80- President of the Senate Speaker of the House
81- I certify that H.J.R. No. 3 was passed by the House on April
82- 17, 2023, by the following vote: Yeas 133, Nays 9, 1 present, not
83- voting; that the House refused to concur in Senate amendments to
84- H.J.R. No. 3 on May 23, 2023, by a non-record vote and requested the
85- appointment of a conference committee to consider the differences
86- between the two houses; and that the House adopted the conference
87- committee report on H.J.R. No. 3 on May 28, 2023, by the following
88- vote: Yeas 110, Nays 30, 1 present, not voting.
89- ______________________________
90- Chief Clerk of the House
91- I certify that H.J.R. No. 3 was passed by the Senate, with
92- amendments, on May 9, 2023, by the following vote: Yeas 30, Nays 1;
93- at the request of the House, the Senate appointed a conference
94- committee to consider the differences between the two houses; and
95- that the Senate adopted the conference committee report on H.J.R.
96- No. 3 on May 27, 2023, by the following vote: Yeas 30, Nays 1.
97- ______________________________
98- Secretary of the Senate
99- RECEIVED: __________________
100- Date
101- __________________
102- Secretary of State
91+ * * * * *