Amend CSSJR 55 by striking all below the resolving clause and 
substituting the following:
	SECTION 1.  Article III, Texas Constitution, is amended by 
adding Section 49-n to read as follows:
	Sec. 49-n.  (a)  The legislature by general law may authorize 
one or more state agencies to issue general obligation bonds of the 
State of Texas in an aggregate amount not to exceed $250 million.  
The proceeds from the sale of the bonds shall be deposited in the 
Texas military value revolving loan account in the state treasury 
or its successor account to be used by one or more state agencies 
designated by the legislature by general law without further 
appropriation to provide loans for economic development projects 
that benefit defense-related communities, as defined by the 
legislature by general law, including projects that enhance the 
military value of military installations located in the state.
	(b)  The expenses incurred in connection with the issuance of 
the bonds and the costs of administering the Texas military value 
revolving loan account may be paid from money in the account.
	(c)  A defense-related community receiving a loan from the 
Texas military value revolving loan account may use money from the 
account to capitalize interest on the loan.
	(d)  An agency providing a loan from the Texas military value 
revolving loan account to a defense-related community may require 
the defense-related community to pay any pro rata cost of issuing 
the general obligation bonds.
	(e)  Bonds authorized under this section are a general 
obligation of the state.  While any of the bonds or interest on the 
bonds is outstanding and unpaid, there is appropriated out of the 
first money coming into the treasury in each fiscal year, not 
otherwise appropriated by this constitution, the amount sufficient 
to pay the principal of and interest on the bonds that mature or 
become due during the fiscal year, less any amounts in the interest 
and sinking accounts at the close of the preceding fiscal year that 
are pledged to payment of the bonds or interest.
	SECTION 2.  This proposed constitutional amendment shall be 
submitted to the voters at an election to be held September 13, 
2003.  The ballot shall be printed to permit voting for or against 
the proposition:  "The constitutional amendment authorizing the 
issuance of general obligation bonds not to exceed $250 million 
payable from the general revenues of the state to provide loans to 
defense-related communities for economic development projects, 
including projects that enhance the military value of military 
installations."