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A JOINT RESOLUTION
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proposing a constitutional amendment relating to the Texas |
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University Fund, which provides funding to certain institutions of |
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higher education to achieve national prominence as major research |
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universities and drive the state economy. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49-g, Article III, Texas Constitution, |
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is amended by adding Subsections (p) and (q) to read as follows: |
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(p) On the first business day occurring on or after the 90th |
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day of each state fiscal year, an amount equal to the interest |
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income, dividends, and investment earnings attributable to the |
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economic stabilization fund for the preceding state fiscal year, |
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not to exceed the amount determined under Subsection (q) of this |
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section, is appropriated from the economic stabilization fund to |
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the comptroller of public accounts for the purpose of immediate |
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deposit to the credit of the Texas University Fund. For purposes of |
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this subsection, the amount of interest income, dividends, and |
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investment earnings attributable to the economic stabilization |
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fund for a state fiscal year is computed by: |
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(1) determining the amount of interest and dividends |
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due to the fund for that fiscal year, including any interest |
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credited to general revenue under Subsection (i) of this section; |
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(2) adding to the amount determined under Subdivision |
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(1) of this subsection an amount equal to the increase, if any, in |
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the fair market value of the fund between the last day of that |
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fiscal year and the last day of the preceding state fiscal year; and |
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(3) subtracting from the amount determined under |
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Subdivision (2) of this subsection the amount of any expenses of |
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managing the investments of money in the fund that are paid from the |
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fund during that fiscal year. |
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(q) The amount of the appropriation made under Subsection |
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(p) of this section may not exceed: |
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(1) for the state fiscal year beginning September 1, |
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2023, $100 million; or |
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(2) for a state fiscal year beginning on or after |
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September 1, 2024, the amount determined under this subsection for |
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the preceding state fiscal year adjusted by the increase, if any, in |
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the general price level during the preceding state fiscal year, as |
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determined by the comptroller of public accounts on the basis of |
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changes in the consumer price index published by the Bureau of Labor |
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Statistics of the United States Department of Labor or a successor |
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agency and not to exceed two percent per state fiscal year. |
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SECTION 2. Section 20, Article VII, Texas Constitution, is |
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amended by amending Subsections (a) and (g) and adding Subsection |
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(i) to read as follows: |
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(a) There is established the Texas University Fund |
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[national research university fund] for the purpose of providing a |
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dedicated, independent, and equitable source of funding to enable |
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emerging research universities in this state to achieve national |
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prominence as major research universities. |
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(g) The legislature shall establish criteria by which a |
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state university may become eligible to receive a portion of the |
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distributions from the fund. A state university that is entitled to |
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participate in dedicated funding provided by Section 18 of this |
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article is [becomes eligible to receive a portion of the |
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distributions from the fund in a state fiscal biennium remains |
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eligible to receive additional distributions from the fund in any |
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subsequent state fiscal biennium. The University of Texas at |
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Austin and Texas A&M University are] not eligible to receive money |
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from the fund. |
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(i) For purposes of Section 22, Article VIII, of this |
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constitution: |
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(1) money in the fund is dedicated by this |
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constitution; and |
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(2) an appropriation of state tax revenues for the |
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purpose of depositing money to the credit of the fund is treated as |
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if it were an appropriation of revenues dedicated by this |
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constitution. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment relating to the Texas |
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University Fund, which provides funding to certain institutions of |
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higher education to achieve national prominence as major research |
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universities and drive the state economy." |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.J.R. No. 3 was passed by the House on April |
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17, 2023, by the following vote: Yeas 133, Nays 9, 1 present, not |
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voting; that the House refused to concur in Senate amendments to |
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H.J.R. No. 3 on May 23, 2023, by a non-record vote and requested the |
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appointment of a conference committee to consider the differences |
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between the two houses; and that the House adopted the conference |
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committee report on H.J.R. No. 3 on May 28, 2023, by the following |
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vote: Yeas 110, Nays 30, 1 present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.J.R. No. 3 was passed by the Senate, with |
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amendments, on May 9, 2023, by the following vote: Yeas 30, Nays 1; |
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at the request of the House, the Senate appointed a conference |
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committee to consider the differences between the two houses; and |
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that the Senate adopted the conference committee report on H.J.R. |
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No. 3 on May 27, 2023, by the following vote: Yeas 30, Nays 1. |
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______________________________ |
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Secretary of the Senate |
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RECEIVED: __________________ |
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Date |
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__________________ |
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Secretary of State |