By Ogden                                        S.J.R. No. 31

      75R4717 JSA-D                           

                                 A JOINT RESOLUTION

 1-1     proposing a constitutional amendment to provide that certain

 1-2     amounts designated for deposit to the economic stabilization fund

 1-3     be transferred to the higher education fund.


 1-5           SECTION 1.  Section 49-g, Article III, Texas Constitution, as

 1-6     proposed by H.J.R. No. 2, 70th Legislature, Regular Session, 1987,

 1-7     is amended by adding Subsection (p) to read as follows:

 1-8           (p)  Notwithstanding Subsections (b), (c), (d), and (e) of

 1-9     this section, until the amount in the higher education fund

1-10     established under Section 17(i), Article VII, of this constitution

1-11     first reaches $2 billion, the comptroller shall deposit in the

1-12     higher education fund the amounts otherwise required by Subsections

1-13     (b), (c), (d), and (e) of this section to be transferred to the

1-14     economic stabilization fund.  This subsection applies to the

1-15     transfer under Subsection (b) of this section for the state fiscal

1-16     biennium beginning September 1, 1997, if that transfer has not been

1-17     made when this subsection takes effect.

1-18           SECTION 2.  This proposed constitutional amendment shall be

1-19     submitted to the voters at an election to be held on November 4,

1-20     1997.  The ballot shall be printed to provide for voting for or

1-21     against the following proposition: "The constitutional amendment to

1-22     deposit certain excess state revenue into the higher education fund

1-23     to provide a permanent source of funding for facilities at certain

1-24     state institutions of higher education."