By: Leedom S.J.R. No. 12
A JOINT RESOLUTION
1-1 proposing a constitutional amendment permitting the legislature to
1-2 authorize the transfer of certain funds from the permanent school
1-3 fund to the available school fund.
1-4 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Article VII, Section 5(a), of the Texas
1-6 Constitution is amended to read as follows:
1-7 Sec. 5. (a) Except as otherwise authorized by this section,
1-8 the <The> principal of all bonds and other funds, and the principal
1-9 arising from the sale of the lands hereinbefore set apart to said
1-10 school fund, shall be the permanent school fund, and all the
1-11 interest derivable therefrom and the taxes herein authorized and
1-12 levied shall be the available school fund. The legislature by law
1-13 or by rider in the General Appropriations act may authorize the
1-14 transfer to the available school fund of not more than 50 percent
1-15 of the income adjusted to reflect annual changes in the cost of
1-16 living as determined by the U.S. Department of Labor or other
1-17 department of the federal government specified by general law. The
1-18 available school fund shall be applied to the support of the public
1-19 free schools. Except as provided by this section, no law shall
1-20 ever be enacted appropriating any part of the permanent school fund
1-21 to any other purpose whatever; nor shall the same, or any part
1-22 thereof ever be appropriated to or used for the support of any
1-23 sectarian school; and the available school fund herein provided
2-1 shall be distributed to the several counties according to their
2-2 scholastic population and applied in such manner as may be provided
2-3 by law.
2-4 SECTION 2. This proposed constitutional amendment shall be
2-5 submitted to the voters at an election to be held on November 7,
2-6 1995. The ballot shall be printed to provide for voting for or
2-7 against the proposition: "The constitutional amendment permitting
2-8 the legislature to transfer to the available school fund up to 50
2-9 percent of the capital gains which accrued to the permanent school
2-10 fund during the preceding fiscal year."