Bill Text: TX SJR12 | 2017 | 85th Legislature 1st Special Session | Introduced


Bill Title: Proposing a constitutional amendment providing for certain excess revenue to be dedicated toward contributions to state retirement systems, the health benefit plan for retired education employees and their dependents, the Texas tomorrow fund, the permanent school fund, and the permanent university fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-07-26 - Filed [SJR12 Detail]

Download: Texas-2017-SJR12-Introduced.html
  85S11710 MK-D
 
  By: Taylor of Collin S.J.R. No. 12
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment providing for certain excess
  revenue to be dedicated toward contributions to state retirement
  systems, the health benefit plan for retired education employees
  and their dependents, the Texas tomorrow fund, the permanent school
  fund, and the permanent university fund.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-g, Article III, Texas Constitution,
  is amended by adding Subsections (p), (q), (r), and (s) to read as
  follows:
         (p)  When the comptroller acts to prevent the amount in the
  economic stabilization fund from exceeding the limit in effect for
  a biennium under Subsection (g) of this section by reducing an
  amount transferred to the fund from general revenue as provided by
  Subsection (b) or (c) of this section or by crediting to general
  revenue interest due to the economic stabilization fund as provided
  by Subsection (i) of this section, the comptroller shall credit to
  an account in the general revenue fund of the state treasury:
               (1)  if the comptroller reduces the amount transferred
  under Subsection (b) of this section, an amount of general revenue
  equal to the difference between the amount transferred to the
  economic stabilization fund under Subsection (b) of this section
  and the amount that would have been transferred under that
  subsection but for the limit in effect under Subsection (g) of this
  section;
               (2)  if the comptroller reduces the amount transferred
  under Subsection (c) of this section, an amount of general revenue
  equal to the difference between the amount transferred to the
  economic stabilization fund under Subsection (c) of this section
  and the amount that would have been transferred under that
  subsection but for the limit in effect under Subsection (g) of this
  section; and
               (3)  if the comptroller reduces the amount credited to
  the economic stabilization fund under Subsection (i) of this
  section, an amount of general revenue equal to the amount credited
  to general revenue under that subsection.
         (q)  General revenue credited to the account of the general
  revenue fund in the state treasury as provided by Subsection (p) of
  this section, and the interest or other earnings on the balance of
  that account, may be appropriated only for the following purposes:
               (1)  making an additional contribution to the Employees
  Retirement System of Texas created under Section 67(b), Article
  XVI, of this constitution, subject to Subsection (r) of this
  section;
               (2)  making an additional contribution to the Teacher
  Retirement System of Texas created under Section 67(b), Article
  XVI, of this constitution, or to the health benefit plan created for
  the retired members of the Teacher Retirement System of Texas and
  their dependents; and
               (3)  making an additional contribution to the Texas
  tomorrow fund created under Section 19, Article VII, of this
  constitution.
         (r)  The legislature may appropriate general revenue for the
  purpose of a contribution described by Subsection (q)(1) of this
  section only if the legislature first adopts a resolution finding
  that both the Legislative Budget Board, or that board's successor
  in function, and the comptroller have determined that the Employees
  Retirement System of Texas has not been, for at least three of the
  preceding five years, actuarially sound because the system's total
  contribution rate has not been sufficient to cover the system's
  normal cost and administrative expenses and to amortize the
  system's unfunded accrued actuarial liability for a period of 31
  years.
         (s)  On the last day of the state fiscal biennium during
  which the money was credited to the account of the general revenue
  fund in the state treasury as provided by Subsection (p) of this
  section, the comptroller shall transfer the remaining
  unappropriated and unobligated balance of that account to the
  credit of the permanent school fund and the permanent university
  fund in equal amounts.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 7, 2017.
  The ballot shall be printed to provide for voting for or against the
  proposition: "The constitutional amendment providing for certain
  excess revenue to be dedicated toward contributions to state
  retirement systems, the health benefit plan for retired education
  employees and their dependents, the Texas tomorrow fund, the
  permanent school fund, and the permanent university fund."
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