Bill Text: TX SJR1 | 2019-2020 | 86th Legislature | Introduced


Bill Title: Proposing a constitutional amendment to authorize the legislature to provide for a transfer of economic stabilization fund investment earnings to a special endowment fund in the state treasury.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2019-02-01 - Referred to Finance [SJR1 Detail]

Download: Texas-2019-SJR1-Introduced.html
  86R3018 JJT-D
 
  By: Nelson S.J.R. No. 1
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to provide for a transfer of economic stabilization fund investment
  earnings to a special endowment fund in the state treasury.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-g(i), Article III, Texas
  Constitution, is amended to read as follows:
         (i)  The comptroller shall credit to general revenue
  interest due to the economic stabilization fund that would result
  in an amount in the economic stabilization fund that exceeds the
  limit in effect under Subsection (g) of this section. The
  legislature by general law may authorize the comptroller to
  transfer economic stabilization fund investment earnings to the
  principal balance of a special fund that is established in the state
  treasury as an endowment to provide investment returns as an
  additional resource to finance state spending priorities.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 5, 2019.
  The ballot shall be printed to provide for voting for or against the
  proposition: "The constitutional amendment to authorize the
  legislature to provide for a transfer of economic stabilization
  fund investment earnings to a special endowment fund in the state
  treasury."
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