Texas Senate Bill SB1232

Texas 2023 - 88th Regular

• Filed: 2/27/23
• Out of Senate Committee: 4/12/23
• Voted on by Senate: 4/18/23
• Out of House Committee: 5/15/23

Caption

Relating to the determination of the sufficient balance of the economic stabilization fund for the purpose of allocating general revenue to that fund and the state highway fund.

Impact

The impact of SB1232 extends to budgeting and fiscal management practices within the state of Texas. By focusing on how general revenues are allocated, the bill aims to streamline the management of state funds, ensuring that the economic stabilization fund does not exceed certain thresholds, thereby maintaining fiscal discipline. The bill's passage signifies a proactive approach to managing state resources efficiently while addressing the future needs of state-funded infrastructure projects.

Summary

Senate Bill 1232 is a legislative measure passed during the 87th session aimed at reforming the allocation of funding between the economic stabilization fund (ESF) and the state highway fund in Texas. The bill modifies provisions related to the determination of sufficient balances within the ESF, enabling the comptroller to make necessary adjustments to the transfer allocations beginning in fiscal year 2043. This legislation is considered a crucial step toward ensuring the financial stability of state resources that support highway and other infrastructure projects.

Sentiment

Overall, the sentiment surrounding SB1232 appears to be generally positive. Legislative discussions emphasize a collaborative effort among lawmakers to create a sustainable and efficiently managed fund that would ultimately benefit public infrastructure. The unanimous support during voting, with SB1232 passing with no votes against it, reflects a strong consensus among legislators on the importance of the bill.

Contention

While there is broad support for SB1232, some stakeholders have raised questions about the long-term implications of modifying the fund allocations so far in advance. There are concerns that these changes could limit future legislative flexibility regarding budget allocations, especially as Texas experiences fluctuations in revenue generation. Nevertheless, supporters argue that the amendments are necessary to establish clearer guidelines for fund management and future financial planning.

Texas Constitutional Statutes Affected

Government Code

• Chapter 316. Appropriations
  • Section: 092
  • Section: 093
  • Section: 092
  • Section: 093
  • Section: 092
  • Section: 093
  • Section: 092
  • Section: 093