88R11633 KJE-D
	By: Martinez Fischer	H.J.R. No. 186

	A JOINT RESOLUTION
	proposing a constitutional amendment providing for the creation of
	the junior college endowment fund and dedicating the interest and
	other investment income from money in the fund to reduce the cost of
	tuition at public junior colleges in this state.
	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1.  Article VII, Texas Constitution, is amended by
	adding Section 22 to read as follows:
	Sec. 22.  (a) The junior college endowment fund is
	established for the purpose of providing a dedicated source of
	funding to reduce the cost of tuition at public junior colleges in
	this state.
	(b)  The fund consists of:
	(1)  money transferred or deposited to the credit of
	the fund; and
	(2)  any interest or other earnings attributable to the
	investment of money in the fund.
	(c)  The comptroller of public accounts shall administer the
	fund.
	(d)  The legislature may not appropriate the principal
	balance of the fund for any purpose.
	(e)  The legislature may appropriate the interest and other
	earnings attributable to the investment of money in the fund only
	for the purpose of reducing the cost of tuition at public junior
	colleges in this state.
	(f)  On January 1, 2024, the comptroller of public accounts
	shall transfer $2 billion of the unencumbered balance of the
	general revenue fund that exists on that date to the junior college
	endowment fund. This subsection expires December 31, 2024.
	SECTION 2.  This proposed constitutional amendment shall be
	submitted to the voters at an election to be held November 7, 2023.
	The ballot shall be printed to permit voting for or against the
	proposition: "The constitutional amendment providing for the
	creation of the junior college endowment fund and dedicating the
	interest and other investment income from money in the fund to
	reduce the cost of tuition at public junior colleges in this state."