89R9587 KJE-D
By: Howard H.J.R. No. 126
A JOINT RESOLUTION
proposing a constitutional amendment dedicating certain general
revenue that would otherwise be transferred to the economic
stabilization fund to the Texas water fund.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49-d-16(c), Article III, Texas
Constitution, as proposed by S.J.R. 75, 88th Legislature, Regular
Session, 2023, is amended to read as follows:
(c) The Texas water fund consists of:
(1) money transferred or deposited to the credit of
the fund under this constitution or by general law, including money
appropriated by the legislature directly to the fund and money from
any source transferred or deposited to the credit of the fund
authorized by this constitution or by general law;
(2) any other revenue that the legislature by statute
dedicates for deposit to the credit of the fund;
(3) investment earnings and interest earned on amounts
credited to the fund;
(4) money from gifts, grants, or donations to the
fund; and
(5) money returned from any authorized transfer.
SECTION 2. Section 49-g, Article III, Texas Constitution,
is amended by adding Subsection (g-1) and amending Subsection (h)
to read as follows:
(g-1) When the comptroller of public accounts acts to
prevent the amount in the economic stabilization fund from
exceeding the limit in effect for a biennium under Subsection (g) of
this section by reducing an amount transferred to the fund from
general revenue as provided by Subsection (b) or (c) of this section
or by crediting to general revenue interest that is due to the fund
as provided by Subsection (i) of this section, the comptroller
shall:
(1) determine an amount of general revenue equal to
the amount by which the balance of general revenue is increased by
the reduction of the transfer from general revenue or the crediting
of interest to general revenue; and
(2) transfer to the Texas water fund the lesser of:
(A) the amount determined under Subdivision (1)
of this subsection; or
(B) $1 billion, adjusted annually to increase
that amount by the lesser of:
(i) the change in the inflation rate, if
that rate is greater than zero, in the Consumer Price Index for All
Urban Consumers published by the Bureau of Labor Statistics of the
United States Department of Labor for the applicable year; or
(ii) two percent.
(h) In preparing an estimate of anticipated revenues for a
succeeding biennium as required by Section 49a, Article III,
[Section 49a,] of this constitution, the comptroller shall estimate
the amount of the transfers that will be made under Subsections (b),
(d), [and] (e), and (g-1) of this section. The comptroller shall
deduct that amount from the estimate of anticipated revenues as if
the transfers were made on August 31 of that fiscal year.
SECTION 3. The following temporary provision is added to
the Texas Constitution:
TEMPORARY PROVISION. (a) This temporary provision applies
to the constitutional amendment proposed by the 89th Legislature,
Regular Session, 2025, dedicating certain general revenue that
would otherwise be transferred to the economic stabilization fund
to the Texas water fund.
(b) The amendments to Section 49-d-16, as proposed by S.J.R.
75, 88th Legislature, Regular Session, 2023, and Section 49-g,
Article III, of this constitution take effect January 1, 2026.
(c) This temporary provision expires January 1, 2027.
SECTION 4. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 4, 2025.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment dedicating certain
general revenue that would otherwise be transferred to the economic
stabilization fund to the Texas water fund."