SRC-MAM H.J.R. 59 75(R)    BILL ANALYSIS


Senate Research CenterH.J.R. 59
By: Delisi (Ratliff)
Finance
4-30-97
Engrossed


DIGEST 

Currently, the limit on state debt payable from the general revenue fund
is 5 percent of general revenue fund revenues. This percentage is below
the 5 percent mark.  This bill constitutionally limits debt payable from
the general revenue fund. 

PURPOSE

As proposed, H.R. 59 requires the submission to the voters of a
constitutional amendment limiting debt payable from the general revenue
fund. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Article III, Texas Constitution, by adding Section 49-j,
as follows: 

Sec. 49-j.  (a) Prohibits the legislature from authorizing additional
state debt if the resulting annual debt service exceeds the limitation
imposed by this section.  Sets forth the limitation of maximum annual debt
service payable from the general revenue fund. 

(b)  Defines "state debt payable from the general revenue fund."

SECTION 2. Requires this proposed constitutional amendment to be submitted
to the voters at an election to be held November 4, 1997.  Sets forth the
required language for the ballot.