| 1 | 1 | | 89R9587 KJE-D |
|---|
| 2 | 2 | | By: Howard H.J.R. No. 126 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | |
|---|
| 6 | 6 | | |
|---|
| 7 | 7 | | A JOINT RESOLUTION |
|---|
| 8 | 8 | | proposing a constitutional amendment dedicating certain general |
|---|
| 9 | 9 | | revenue that would otherwise be transferred to the economic |
|---|
| 10 | 10 | | stabilization fund to the Texas water fund. |
|---|
| 11 | 11 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 12 | 12 | | SECTION 1. Section 49-d-16(c), Article III, Texas |
|---|
| 13 | 13 | | Constitution, as proposed by S.J.R. 75, 88th Legislature, Regular |
|---|
| 14 | 14 | | Session, 2023, is amended to read as follows: |
|---|
| 15 | 15 | | (c) The Texas water fund consists of: |
|---|
| 16 | 16 | | (1) money transferred or deposited to the credit of |
|---|
| 17 | 17 | | the fund under this constitution or by general law, including money |
|---|
| 18 | 18 | | appropriated by the legislature directly to the fund and money from |
|---|
| 19 | 19 | | any source transferred or deposited to the credit of the fund |
|---|
| 20 | 20 | | authorized by this constitution or by general law; |
|---|
| 21 | 21 | | (2) any other revenue that the legislature by statute |
|---|
| 22 | 22 | | dedicates for deposit to the credit of the fund; |
|---|
| 23 | 23 | | (3) investment earnings and interest earned on amounts |
|---|
| 24 | 24 | | credited to the fund; |
|---|
| 25 | 25 | | (4) money from gifts, grants, or donations to the |
|---|
| 26 | 26 | | fund; and |
|---|
| 27 | 27 | | (5) money returned from any authorized transfer. |
|---|
| 28 | 28 | | SECTION 2. Section 49-g, Article III, Texas Constitution, |
|---|
| 29 | 29 | | is amended by adding Subsection (g-1) and amending Subsection (h) |
|---|
| 30 | 30 | | to read as follows: |
|---|
| 31 | 31 | | (g-1) When the comptroller of public accounts acts to |
|---|
| 32 | 32 | | prevent the amount in the economic stabilization fund from |
|---|
| 33 | 33 | | exceeding the limit in effect for a biennium under Subsection (g) of |
|---|
| 34 | 34 | | this section by reducing an amount transferred to the fund from |
|---|
| 35 | 35 | | general revenue as provided by Subsection (b) or (c) of this section |
|---|
| 36 | 36 | | or by crediting to general revenue interest that is due to the fund |
|---|
| 37 | 37 | | as provided by Subsection (i) of this section, the comptroller |
|---|
| 38 | 38 | | shall: |
|---|
| 39 | 39 | | (1) determine an amount of general revenue equal to |
|---|
| 40 | 40 | | the amount by which the balance of general revenue is increased by |
|---|
| 41 | 41 | | the reduction of the transfer from general revenue or the crediting |
|---|
| 42 | 42 | | of interest to general revenue; and |
|---|
| 43 | 43 | | (2) transfer to the Texas water fund the lesser of: |
|---|
| 44 | 44 | | (A) the amount determined under Subdivision (1) |
|---|
| 45 | 45 | | of this subsection; or |
|---|
| 46 | 46 | | (B) $1 billion, adjusted annually to increase |
|---|
| 47 | 47 | | that amount by the lesser of: |
|---|
| 48 | 48 | | (i) the change in the inflation rate, if |
|---|
| 49 | 49 | | that rate is greater than zero, in the Consumer Price Index for All |
|---|
| 50 | 50 | | Urban Consumers published by the Bureau of Labor Statistics of the |
|---|
| 51 | 51 | | United States Department of Labor for the applicable year; or |
|---|
| 52 | 52 | | (ii) two percent. |
|---|
| 53 | 53 | | (h) In preparing an estimate of anticipated revenues for a |
|---|
| 54 | 54 | | succeeding biennium as required by Section 49a, Article III, |
|---|
| 55 | 55 | | [Section 49a,] of this constitution, the comptroller shall estimate |
|---|
| 56 | 56 | | the amount of the transfers that will be made under Subsections (b), |
|---|
| 57 | 57 | | (d), [and] (e), and (g-1) of this section. The comptroller shall |
|---|
| 58 | 58 | | deduct that amount from the estimate of anticipated revenues as if |
|---|
| 59 | 59 | | the transfers were made on August 31 of that fiscal year. |
|---|
| 60 | 60 | | SECTION 3. The following temporary provision is added to |
|---|
| 61 | 61 | | the Texas Constitution: |
|---|
| 62 | 62 | | TEMPORARY PROVISION. (a) This temporary provision applies |
|---|
| 63 | 63 | | to the constitutional amendment proposed by the 89th Legislature, |
|---|
| 64 | 64 | | Regular Session, 2025, dedicating certain general revenue that |
|---|
| 65 | 65 | | would otherwise be transferred to the economic stabilization fund |
|---|
| 66 | 66 | | to the Texas water fund. |
|---|
| 67 | 67 | | (b) The amendments to Section 49-d-16, as proposed by S.J.R. |
|---|
| 68 | 68 | | 75, 88th Legislature, Regular Session, 2023, and Section 49-g, |
|---|
| 69 | 69 | | Article III, of this constitution take effect January 1, 2026. |
|---|
| 70 | 70 | | (c) This temporary provision expires January 1, 2027. |
|---|
| 71 | 71 | | SECTION 4. This proposed constitutional amendment shall be |
|---|
| 72 | 72 | | submitted to the voters at an election to be held November 4, 2025. |
|---|
| 73 | 73 | | The ballot shall be printed to permit voting for or against the |
|---|
| 74 | 74 | | proposition: "The constitutional amendment dedicating certain |
|---|
| 75 | 75 | | general revenue that would otherwise be transferred to the economic |
|---|
| 76 | 76 | | stabilization fund to the Texas water fund." |
|---|