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Senate Joint Resolution 1 (3rd C.S.) |
Senate Author: Nichols et al. |
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For Election: 11-4-14 |
House Sponsor: Pickett et al. |
Senate Joint Resolution 1 proposes an amendment to the state constitution to require the comptroller of public accounts to allocate one-half of the amount of oil and gas production tax revenue the comptroller currently is required to transfer to the economic stabilization fund to the state highway fund for the sole purpose of constructing, maintaining, and acquiring rights-of-way for public roadways other than toll roads. The legislature by general law must provide for a procedure by which this allocation of oil and gas production tax revenue may be adjusted to provide for a transfer of a greater amount to the economic stabilization fund, with the remainder, if any, allocated for transfer to the state highway fund. Such an allocation is binding on the comptroller for the purposes of the required transfers to the economic stabilization fund and the state highway fund.