Bill Text: TX HJR27 | 2023-2024 | 88th Legislature | Engrossed

---

Bill Title: Proposing a constitutional amendment providing for the creation of and use of money in the Grow Texas fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

Spectrum: Slight Partisan Bill (Republican 5-2)

Status: (Engrossed - Dead) 2023-05-04 - Referred to Finance [HJR27 Detail]

Download: Texas-2023-HJR27-Engrossed.html

---

88R341 SRA-D
By: Craddick, Darby, Hunter, Guillen, H.J.R. No. 27
Raymond, et al.

A JOINT RESOLUTION
proposing a constitutional amendment providing for the creation of
and use of money in the Grow Texas fund and allocating certain
general revenues to that fund, the economic stabilization fund, and
the state highway fund.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49-g, Article III, Texas Constitution,
is amended by amending Subsections (c), (c-1), and (c-2) and adding
Subsection (c-3) to read as follows:
(c) Not later than the 90th day of each fiscal year, the
comptroller of public accounts shall transfer from the general
revenue fund to the economic stabilization fund, [and] the state
highway fund, and the Grow Texas fund the sum of the amounts
described by Subsections (d) and (e) of this section, to be
allocated as provided by Subsections (c-1), [and] (c-2), and (c-3)
of this section. However, if necessary and notwithstanding the
allocations prescribed by Subsections (c-1), [and] (c-2), and (c-3)
of this section, the comptroller shall reduce proportionately the
amounts described by Subsections (d) and (e) of this section to be
transferred and allocated to the economic stabilization fund to
prevent the amount in that fund from exceeding the limit in effect
for that biennium under Subsection (g) of this section. Revenue
transferred to the state highway fund under this subsection may be
used only for constructing, maintaining, and acquiring
rights-of-way for public roadways other than toll roads.
(c-1) Of the sum of the amounts described by Subsections (d)
and (e) of this section and required to be transferred from the
general revenue fund under Subsection (c) of this section, the
comptroller shall allocate one-half to the economic stabilization
fund and the remainder to the state highway fund, except as provided
by Subsections [Subsection] (c-2) and (c-3) of this section.
(c-2) The legislature by general law shall provide for a
procedure by which the allocations prescribed by Subsections (c-1)
and (c-3) [allocation of the sum of the amounts described by
Subsections (d) and (e)] of this section may be adjusted to provide
for a transfer to the economic stabilization fund of an amount
greater than the allocations [allocation] provided for under those
subsections [Subsection (c-1) of this section with the remainder of
that sum, if any, allocated for transfer to the state highway fund].
The allocations [allocation] made as provided by that general law
are [is] binding on the comptroller for the purposes of the
transfers required by Subsection (c) of this section.
(c-3) Each time the comptroller determines the amount of
general revenue to be allocated for transfer to the economic
stabilization fund under Subsection (c-1) of this section, the
comptroller shall reduce by 12 percent the amount of that transfer
and at the same time transfer to the credit of the Grow Texas fund an
amount of general revenue equal to the amount by which the
comptroller reduced the amount of the transfer to the economic
stabilization fund, provided that the total amount transferred to
the Grow Texas fund under this subsection may not exceed $250
million in a state fiscal biennium. For purposes of determining the
amount of the transfer to the Grow Texas fund under this subsection,
the comptroller may not consider any amount by which the amount
transferred to the economic stabilization fund is increased under
Subsection (c-2) of this section.
SECTION 2. Article III, Texas Constitution, is amended by
adding Section 49-g-1 to read as follows:
Sec. 49-g-1. (a) The Grow Texas fund is established as a
fund in the state treasury.
(b) The Grow Texas fund consists of:
(1) money transferred to the fund under Section 49-g
of this article;
(2) money appropriated to the fund by the legislature;
(3) money that the legislature by statute dedicates
for deposit to the credit of the fund;
(4) money received from the federal government that
may be used for a purpose for which money in the fund may be used and
that is transferred or deposited to the credit of the fund by the
legislature;
(5) gifts or grants contributed to the fund; and
(6) investment earnings and interest earned on amounts
credited to the fund.
(c) The legislature may appropriate money from the Grow
Texas fund only for use in areas of the state from which oil and gas
are produced and only to address infrastructure needs in the manner
provided by general law in areas of the state determined by the
legislature to be significantly affected by oil and gas production.
General law enacted under this subsection may provide for the
appropriation of money in the fund to make grants to state agencies
and political subdivisions of the state for a purpose authorized by
this subsection.
(d) On the last day of each state fiscal biennium, the
comptroller of public accounts shall transfer any unobligated and
unappropriated money that remains in the fund on that date to the
economic stabilization fund.
(e) The Grow Texas fund commission is created to administer
money appropriated from the fund and to advise the legislature on
making appropriations from the fund. The commission consists of
seven members who serve four-year terms beginning September 1 of
each odd-numbered year. The lieutenant governor shall appoint two
members of the senate to the commission. The speaker of the house
of representatives shall appoint two members of the house of
representatives to the commission. The governor shall appoint
three members of the public to the commission and shall designate
the presiding officer of the commission. A vacancy on the
commission shall be filled in the same manner as the original
appointment for the unexpired term. Members of the commission are
not entitled to compensation for service on the commission but are
entitled to reimbursement of expenses incurred while performing
duties as commission members.
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 88th Legislature,
Regular Session, 2023, providing for the creation of the Grow Texas
fund, dedicating the money in that fund to benefit areas of the
state from which oil and gas are produced, and providing for the
transfer of certain general revenues to that fund, the economic
stabilization fund, and the state highway fund.
(b) Section 49-g-1, Article III, of this constitution, as
added by the amendment, and the amendment to Section 49-g, Article
III, of this constitution, take effect September 1, 2025.
(c) This temporary provision expires September 1, 2026.
SECTION 4. 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 Grow Texas fund, dedicating the money in that fund
to benefit areas of the state from which oil and gas are produced,
and providing for the transfer of certain general revenues to that
fund, the economic stabilization fund, and the state highway fund."