Texas 2025 - 89th Regular

Texas Senate Bill SJR66 Compare Versions

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1	1	By: Perry, et al. S.J.R. No. 66
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6	6	A JOINT RESOLUTION
7	7	proposing a constitutional amendment dedicating a portion of the
8	8	revenue derived from state sales and use taxes and insurance
9	9	premium taxes to the Texas water fund.
10	10	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 49-d-16, Article III, Texas
12	12	Constitution, as proposed by S.J.R. 75, 88th Legislature, Regular
13	13	Session, 2023, is amended by amending Subsections (c) and (e) and
14	14	adding Subsections (e-1), (e-2), and (e-3) 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	(e) For the period of 10 state fiscal years beginning
29	29	September 1, 2043, and for each period of 10 state fiscal years that
30	30	occur after that period has ended, the legislature by general law
31	31	may allocate for transfer to the funds and accounts administered by
32	32	the Texas Water Development Board or that board's successor the
33	33	money deposited to the credit of the Texas water fund under Section
34	34	7-e, Article VIII, of this constitution. The allocation of money
35	35	prescribed by a general law enacted under this subsection may not be
36	36	amended by the legislature during the 10-year period for which the
37	37	money is allocated. Any money deposited to the credit of the Texas
38	38	water fund under Section 7-e, Article VIII, of this constitution
39	39	that is not allocated by a general law enacted under this subsection
40	40	may be transferred to other funds or accounts by the Texas Water
41	41	Development Board or that board's successor in accordance with
42	42	Subsection (b) of this section.
43	43	(e-1) Of the amount of money initially appropriated to the
44	44	Texas water fund, the administrator of the fund shall allocate not
45	45	less than 25 percent to be used only for transfer to the New Water
46	46	Supply for Texas Fund.
47	47	(e-2) Of the amount of money deposited to the credit of the
48	48	Texas water fund under Section 7-e, Article VIII, of this
49	49	constitution before September 1, 2043, the administrator of the
50	50	fund shall allocate not less than 80 percent to be used only for
51	51	transfer to the New Water Supply for Texas Fund.
52	52	(e-3) This subsection and Subsections (e-1) and (e-2) of
53	53	this section expire August 31, 2043.
54	54	SECTION 2. Article VIII, Texas Constitution, is amended by
55	55	adding Section 7-e to read as follows:
56	56	Sec. 7-e. (a) Subject to Section 7-d of this article and
57	57	Subsections (b) and (c) of this section, in each state fiscal
58	58	year, the comptroller of public accounts shall deposit to the
59	59	credit of the Texas water fund:
60	60	(1) the net revenue derived from the imposition of the
61	61	state sales and use tax on the sale, storage, use, or other
62	62	consumption in this state of taxable items under Chapter 151, Tax
63	63	Code, or its successor, that exceeds the first $46.5 billion of that
64	64	revenue coming into the treasury in that state fiscal year,
65	65	provided that the total amount deposited to the credit of the Texas
66	66	water fund under this subsection in a state fiscal year may not
67	67	exceed $500 million; and
68	68	(2) the first $500 million of the net revenue derived
69	69	from the imposition of the insurance premium taxes on the taxable
70	70	gross premiums, gross premium receipts, and gross revenues from the
71	71	sale of certificates or contracts subject to those taxes under
72	72	Subtitle B, Title 3, Insurance Code, or its successor, coming into
73	73	the treasury in that state fiscal year.
74	74	(b) The legislature by adoption of a resolution approved by
75	75	a record vote of two-thirds of the members of each house of the
76	76	legislature may direct the comptroller of public accounts to reduce
77	77	the amount of money deposited to the credit of the Texas water fund
78	78	under Subsection (a) of this section. The comptroller may be
79	79	directed to make that reduction only:
80	80	(1) in the state fiscal year in which the resolution is
81	81	adopted, or in either of the following two state fiscal years; and
82	82	(2) by an amount or percentage that does not result in
83	83	a reduction of more than 50 percent of the amount that would
84	84	otherwise be deposited to the fund in the affected state fiscal year
85	85	under the applicable subsection of this section.
86	86	(c) Subject to Subsection (d) of this section, the duty of
87	87	the comptroller of public accounts to make a deposit under
88	88	Subsection (a) of this section expires August 31, 2043.
89	89	(d) The legislature by adoption of a concurrent resolution
90	90	approved by a record vote of a majority of the members of each house
91	91	of the legislature may extend, in 10-year increments, the duty of
92	92	the comptroller of public accounts to make a deposit under
93	93	Subsection (a) of this section beyond the date prescribed by
94	94	Subsection (c) of this section.
95	95	SECTION 3. The following temporary provision is added to
96	96	the Texas Constitution:
97	97	TEMPORARY PROVISION. (a) This temporary provision applies
98	98	to the constitutional amendment proposed by the 89th Legislature,
99	99	Regular Session, 2025, dedicating a portion of the revenue derived
100	100	from state sales and use taxes and the insurance premium taxes to
101	101	the Texas water fund.
102	102	(b) Section 7-e, Article VIII, of this constitution takes
103	103	effect September 1, 2027.
104	104	(c) This temporary provision expires September 1, 2028.
105	105	SECTION 4. This proposed constitutional amendment shall be
106	106	submitted to the voters at an election to be held November 4, 2025.
107	107	The ballot shall be printed to permit voting for or against the
108	108	proposition: "The constitutional amendment dedicating a portion of
109	109	the revenue derived from state sales and use taxes and insurance
110	110	premium taxes to the Texas water fund."