| 1 | 1 | | By: Nichols S.B. No. 1232 |
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| 2 | 2 | | (Canales) |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the determination of the sufficient balance of the |
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| 8 | 8 | | economic stabilization fund for the purpose of allocating general |
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| 9 | 9 | | revenue to that fund and the state highway fund. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 316.092(b), Government Code, is amended |
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| 12 | 12 | | to read as follows: |
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| 13 | 13 | | (b) This section expires December 31, 2042 [2034]. |
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| 14 | 14 | | SECTION 2. Sections 316.093(c) and (d), Government Code, |
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| 15 | 15 | | are amended to read as follows: |
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| 16 | 16 | | (c) For the purposes of Section 49-g(c-2), Article III, |
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| 17 | 17 | | Texas Constitution, the comptroller shall adjust the allocation |
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| 18 | 18 | | provided by Section 49-g(c-1) of that article of amounts to be |
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| 19 | 19 | | transferred to the fund and to the state highway fund under Section |
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| 20 | 20 | | 49-g(c) of that article in a state fiscal year beginning on or after |
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| 21 | 21 | | September 1, 2043 [2035], so that the total of those amounts is |
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| 22 | 22 | | transferred to the economic stabilization fund, except that the |
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| 23 | 23 | | comptroller shall reduce a transfer made under this subsection as |
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| 24 | 24 | | necessary to prevent the amount in the fund from exceeding the limit |
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| 25 | 25 | | in effect for that biennium under Section 49-g(g) of that article. |
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| 26 | 26 | | (d) Subsections (a) and (b) and this subsection expire |
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| 27 | 27 | | December 31, 2042 [2034]. |
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| 28 | 28 | | SECTION 3. This Act takes effect September 1, 2023. |
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