Bill Text: TX SB2290 | 2019-2020 | 86th Legislature | Introduced

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Bill Title: Relating to the allocation of certain general revenues to the economic stabilization fund, the state highway fund, and the education enrichment fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-21 - Referred to Finance [SB2290 Detail]

Download: Texas-2019-SB2290-Introduced.html

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86R12099 CJC-D
By: Bettencourt S.B. No. 2290

A BILL TO BE ENTITLED
AN ACT
relating to the allocation of certain general revenues to the
economic stabilization fund, the state highway fund, and the
education enrichment fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. The heading to Subchapter H, Chapter 316,
Government Code, is amended to read as follows:
SUBCHAPTER H. DETERMINATION OF AMOUNTS OF CONSTITUTIONAL
ALLOCATIONS TO [PRESERVATION OF SUFFICIENT BALANCE IN]
ECONOMIC STABILIZATION FUND, STATE HIGHWAY FUND, AND EDUCATION
ENRICHMENT FUND
SECTION 2. The heading to Section 316.093, Government Code,
is amended to read as follows:
Sec. 316.093. DETERMINATION [ADJUSTMENT] OF AMOUNTS OF
CONSTITUTIONAL ALLOCATIONS TO ECONOMIC STABILIZATION FUND, [AND]
STATE HIGHWAY FUND, AND EDUCATION ENRICHMENT FUND.
SECTION 3. Sections 316.093(a), (b), and (c), Government
Code, are amended to read as follows:
(a) In each state fiscal year, [Before] the comptroller
shall allocate the amount to be transferred under [makes transfers
for a state fiscal year in accordance with] Section 49-g(c),
Article III, Texas Constitution, in the manner provided by this
section [the comptroller shall determine whether the sum of the
balance of the fund on the preceding August 31, any projected
transfer to the fund under Section 49-g(b) of that article, and any
projected transfer to the fund under Section 49-g(c) of that
article in accordance with the allocations for the transfer as
provided by Section 49-g(c-1) of that article is less than the
sufficient balance adopted under Section 316.092].
(b) The legislature shall state in the General
Appropriations Act the percentage of the total amount to be
transferred under [If the sum described by Subsection (a) is less
than the sufficient balance adopted under Section 316.092, the
comptroller shall reduce the allocation to the state highway fund
provided by] Section 49-g(c), Article III, Texas Constitution, that
the comptroller shall deposit to the economic stabilization fund,
the state highway fund, and the education enrichment fund in each
year of the state fiscal biennium for which the act makes
appropriations [and increase the allocation to the economic
stabilization fund, in an equal amount, until the sufficient
balance adopted under Section 316.092 is achieved].
(c) In determining the percentage that each fund will
receive under Subsection (b), the legislature shall consider the
estimate of the amount of money that will be transferred under
Section 49-g(c), Article III, Texas Constitution, in the applicable
state fiscal biennium, as stated in the comptroller's biennial
revenue estimate for that state fiscal biennium [If under Section
316.092 a sufficient balance has not been adopted for the
comptroller to consider under this section, the comptroller shall
adjust the allocation of amounts to be transferred to the fund and
to the state highway fund provided by Section 49-g(c), Article III,
Texas Constitution, so that the total of those amounts is
transferred to the economic stabilization fund, except that the
comptroller shall reduce a transfer made under this subsection as
necessary to prevent the amount in the fund from exceeding the limit
in effect for that biennium under Section 49-g(g) of that article].
SECTION 4. The following provisions of the Government Code
are repealed:
(1) Section 316.091;
(2) Section 316.092;
(3) Sections 316.093(e) and (f); and
(4) Section 404.0241.
SECTION 5. This Act takes effect January 1, 2020, but only
if the constitutional amendment proposed by the 86th Legislature,
Regular Session, 2019, providing for the creation of the education
enrichment fund, dedicating the money in that fund for primary and
secondary education, and providing for the transfer of certain
general revenues to that fund, the economic stabilization fund, and
the state highway fund is approved by the voters. If that amendment
is not approved by the voters, this Act has no effect.