78R3391 JRD-D

By:  Heflin                                                     H.J.R. No. 2  



A JOINT RESOLUTION

proposing a constitutional amendment requiring that money 
appropriated from the economic stabilization fund be repaid to the 
fund during the next state fiscal biennium.
	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:                       
	SECTION 1.  Section 49-g, Article III, Texas Constitution, 
is amended by adding Subsections (q), (r), and (s) to read as 
follows:
	(q)  Amounts appropriated under Subsection (k), (l), or (m) 
of this section from the economic stabilization fund for all or part 
of a biennium must be repaid to the fund during the succeeding 
biennium.  Except as provided by Subsection (r) of this section,  
the comptroller during the succeeding biennium shall transfer from 
the general revenue fund to the economic stabilization fund an 
amount equal to the amount appropriated from the economic 
stabilization fund for all or part of the biennium.  The comptroller 
shall transfer one-half of the required amount during the first 
fiscal year of the succeeding biennium and one-half of the required 
amount during the second fiscal year of the succeeding biennium, 
except that the amount transferred during the first  fiscal year may 
be unequal to the amount transferred during the second fiscal year 
if the comptroller determines that the financial condition of the 
state makes it necessary to transfer unequal amounts.
	(r)  The comptroller shall reduce the amount otherwise 
required to be repaid under Subsection (q) of this section as 
necessary to ensure that the amount in the economic stabilization 
fund does not exceed the limit prescribed by Subsection (g) of this 
section.
	(s)  For purposes of Section 49a of this article, an amount 
of revenue anticipated to be received during a biennium equal to the 
amount required to be repaid during the biennium under Subsection 
(q) of this section is not available for appropriation during the 
biennium, and the comptroller shall subtract that amount from the 
revenue otherwise estimated to be available for purposes of any 
statement or endorsement the comptroller makes under Section 49a of 
this article.
	SECTION 2.  The following temporary provision is added to 
the Texas Constitution:
	TEMPORARY PROVISION.  (a)  This temporary provision applies 
to the amendment to Section 49-g, Article III, of this 
constitution, proposed by the 78th Legislature, Regular Session, 
2003, requiring that money appropriated from the economic 
stabilization fund be repaid to the fund during the next state 
fiscal biennium. This temporary provision expires September 2, 
2007.
	(b)  The changes made to Section 49-g, Article III, of this 
constitution by the amendment apply in relation to appropriations 
made from the economic stabilization fund for the state fiscal 
biennium beginning September 1, 2003, without regard to whether the 
appropriations from the fund for that biennium were made before or 
after the amendment is approved by the voters.
	SECTION 3.  This proposed constitutional amendment shall be 
submitted to the voters at an election to be held November 4, 2003.  
The ballot shall be printed to permit voting for or against the 
proposition:  "The constitutional amendment requiring that money 
appropriated from the state's rainy day fund be repaid to the rainy 
day fund during the next state fiscal biennium."