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."