Bill Text: TX SJR72 | 2019-2020 | 86th Legislature | Introduced

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

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-21 - Referred to Finance [SJR72 Detail]

Download: Texas-2019-SJR72-Introduced.html

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86R12098 CJC-D
By: Bettencourt S.J.R. No. 72

A JOINT RESOLUTION
proposing a constitutional amendment providing for the creation of
and use of money in the education enrichment fund; 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. Sections 49-g(c), (c-1), (d), and (e), Article
III, Texas Constitution, are amended 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 education enrichment fund the sum of the
amounts described by Subsections (d) and (e) of this section, to be
allocated as provided by Subsection [Subsections] (c-1) [and (c-2)]
of this section. However, if necessary and notwithstanding the
allocations prescribed by Subsection [Subsections] (c-1) [and
(c-2)] 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) The comptroller shall allocate [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 in the manner provided by the
legislature by general law [, the comptroller shall allocate
one-half to the economic stabilization fund and the remainder to
the state highway fund, except as provided by Subsection (c-2) of
this section].
(d) If in the preceding year the state received from oil
production taxes a net amount greater than the net amount of oil
production taxes received by the state in the fiscal year ending
August 31, 1987, the comptroller shall transfer under Subsection
(c) of this section and allocate in accordance with Subsection
[Subsections] (c-1) [and (c-2)] of this section an amount equal to
75 percent of the difference between those amounts. The
comptroller shall retain the remaining 25 percent of the difference
as general revenue. In computing the net amount of oil production
taxes received, the comptroller may not consider refunds paid as a
result of oil overcharge litigation.
(e) If in the preceding year the state received from gas
production taxes a net amount greater than the net amount of gas
production taxes received by the state in the fiscal year ending
August 31, 1987, the comptroller shall transfer under Subsection
(c) of this section and allocate in accordance with Subsection
[Subsections] (c-1) [and (c-2)] of this section an amount equal to
75 percent of the difference between those amounts. The
comptroller shall retain the remaining 25 percent of the difference
as general revenue. For the purposes of this subsection, the
comptroller shall adjust the computation of revenues to reflect
only 12 months of collection.
SECTION 2. Article III, Texas Constitution, is amended by
adding Section 49-g-6 to read as follows:
Sec. 49-g-6. (a) The education enrichment fund is
established as a fund in the state treasury.
(b) The education enrichment 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) gifts or grants contributed to the fund; and
(5) investment earnings and interest earned on amounts
credited to the fund.
(c) The legislature may appropriate money from the
education enrichment fund only to provide funding for primary and
secondary education.
SECTION 3. Section 49-g(c-2), Article III, Texas
Constitution, is repealed.
SECTION 4. The following temporary provision is added to
the Texas Constitution:
TEMPORARY PROVISION. (a) This temporary provision applies
to 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.
(b) Section 49-g-6, Article III, of this constitution, as
added by the amendment, and the amendments to Section 49-g, Article
III, of this constitution, take effect January 1, 2020.
(c) This temporary provision expires January 1, 2021.
SECTION 5. 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 permit voting for or against the
proposition: "The constitutional amendment 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."