By: Montford S.B. No. 1492
73R10582 SRC-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the dedication of certain state revenue to public
1-3 elementary, secondary, and higher education.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Subchapter G, Chapter 403, Government Code, is
1-6 amended by adding Section 403.106 to read as follows:
1-7 Sec. 403.106. PUBLIC EDUCATION ACCOUNT. (a) The public
1-8 education account is a special account in the general revenue fund.
1-9 Money in the account may be appropriated only for the purposes of
1-10 public elementary, secondary, and higher education.
1-11 (b) The account consists of money credited to the account as
1-12 provided by law.
1-13 (c) Sections 403.094 and 403.095 do not apply to the
1-14 account.
1-15 SECTION 2. Section 3.09, Texas Racing Act (Article 179e,
1-16 Vernon's Texas Civil Statutes), is amended to read as follows:
1-17 Sec. 3.09. Funding. (a) The comptroller shall deposit the
1-18 state's share of each pari-mutuel pool from horse racing and
1-19 greyhound racing in the public education account of the General
1-20 Revenue Fund.
1-21 (b) The commission shall deposit the money it collects under
1-22 this Act in the State Treasury to the credit of a special fund to
1-23 be known as the Texas Racing Commission fund. The Texas Racing
1-24 Commission fund may be appropriated only for the administration and
2-1 enforcement of this Act. Any unappropriated money remaining in
2-2 that special fund at the close of each fiscal biennium shall be
2-3 transferred to the public education account of the General Revenue
2-4 Fund and may be appropriated for any legal purpose for which money
2-5 in that account may be appropriated. The legislature may also
2-6 appropriate money from the General Revenue Fund for the
2-7 administration and enforcement of this Act. Any amount of general
2-8 revenue appropriated for the administration and enforcement of this
2-9 Act in excess of the cumulative amount deposited in the Texas
2-10 Racing Commission fund shall be reimbursed from the Texas Racing
2-11 Commission fund not later than one year after the date on which the
2-12 general revenue funds are appropriated, with 12 percent interest
2-13 per year.
2-14 SECTION 3. Section 5.02(b), State Lottery Act (Article 179g,
2-15 Vernon's Texas Civil Statutes), is amended to read as follows:
2-16 (b) Money in the state lottery account shall be used only
2-17 for the following purposes and shall be distributed as follows:
2-18 (1) the payment of prizes to the holders of winning
2-19 tickets;
2-20 (2) the payment of costs incurred in the operation and
2-21 administration of the lottery, including any fees received by a
2-22 lottery operator, provided that the costs incurred in a fiscal
2-23 biennium may not exceed an amount equal to 15 percent of the gross
2-24 revenue accruing from the sale of tickets in that biennium;
2-25 (3) the transfer of amounts to the state lottery
2-26 stabilization fund as provided by Subsections (c), (d), and (e) of
2-27 this section; and
3-1 (4) the balance, after creation of a reserve
3-2 sufficient to pay the amounts provided by Subdivisions (1) and (2)
3-3 of this subsection, to be transferred to the public education
3-4 account <unobligated portion> of the general revenue fund, on or
3-5 before the 15th day of each month.
3-6 SECTION 4. Section 171.401, Tax Code, is amended to read as
3-7 follows:
3-8 Sec. 171.401. REVENUE DEPOSITED IN PUBLIC EDUCATION ACCOUNT
3-9 <GENERAL REVENUE FUND>. The revenue from the tax imposed by this
3-10 chapter on corporations shall be deposited to the credit of the
3-11 public education account of the general revenue fund.
3-12 SECTION 5. This Act takes effect September 1, 1993, and
3-13 applies only to:
3-14 (1) money received by the comptroller or the Texas
3-15 Racing Commission under Section 3.09, Texas Racing Act (Article
3-16 179e, Vernon's Texas Civil Statutes), on or after that date;
3-17 (2) a transfer from the state lottery account under
3-18 Section 5.02(b), State Lottery Act (Article 179g, Vernon's Texas
3-19 Civil Statutes), made on or after that date; and
3-20 (3) money received for taxes imposed under Chapter
3-21 171, Tax Code, and due after January 1, 1994.
3-22 SECTION 6. The importance of this legislation and the
3-23 crowded condition of the calendars in both houses create an
3-24 emergency and an imperative public necessity that the
3-25 constitutional rule requiring bills to be read on three several
3-26 days in each house be suspended, and this rule is hereby suspended.