SRC-AAA S.J.R. 31 75(R)   BILL ANALYSIS


Senate Research Center   S.J.R. 31
By: Ogden
Finance
3-20-97
As Filed


DIGEST 

Currently, the legislature appropriates $50 million per year to the Higher
Education Fund (HEF). When the HEF reaches $2 billion, it will become an
autonomous fund.  This bill provides that certain amounts designated for
deposit to the economic stabilization fund be transferred to the higher
education fund, until the HEF reaches $2 billion. 

PURPOSE

As proposed, S.J.R. 31 requires the submission to the voters of a
constitutional amendment to provide that certain amounts designated for
deposit to the economic stabilization fund be transferred to the higher
education 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 Section 49-g, Article III, Texas Constitution, by adding
Subsection (p), as follows: 

(p)  Requires the comptroller to deposit in the higher education fund the
amounts otherwise required by Subsections (b)-(e) of this section to be
transferred to the economic stabilization fund, notwithstanding
Subsections (b)-(e) of this section, until the amount in the higher
education fund established under Section 17(i), Article VII, Texas
Constitution, first reaches $2 billion. Provides that this subsection
applies to the transfer under Subsection (b) of this section for the state
fiscal biennium beginning September 1, 1997, if that transfer has not been
made when this subsection takes effect. 

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.