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A JOINT RESOLUTION
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proposing a constitutional amendment concerning the limitation on |
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the rate of growth of state appropriations and the use of |
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unencumbered surplus state revenues to finance a state sales tax |
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holiday. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 22, Article VIII, Texas Constitution, is |
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amended to read as follows: |
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Sec. 22. (a) In no biennium shall the rate of growth of |
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appropriations from all sources of revenue other than the federal |
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government [state tax revenues not dedicated by this constitution] |
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exceed a rate equal to the sum of the estimated rates [rate] of |
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increase or decrease, during the biennium preceding the biennium |
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for which the appropriations are made, [growth] of: |
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(1) the state's population; and |
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(2) inflation or deflation in this state in the prices |
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of goods. |
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(b) The rates described by Subsection (a) of this section |
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shall be estimated in the manner provided by general law [economy]. |
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If the sum of those estimated rates is a negative number, |
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appropriations for the biennium from all sources of revenue other |
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than the federal government must decrease by a rate at least equal |
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to the sum of those estimated rates. |
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(c) In this section, the rate of change of appropriations |
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from all sources of revenue other than the federal government is the |
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percentage difference between: |
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(1) the amount of money appropriated for the current |
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biennium from those sources as estimated in the manner prescribed |
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by law at or near the time the legislature convenes in regular |
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session during the current biennium; and |
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(2) the amount of money appropriated for the next |
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biennium from those sources as finally estimated by the comptroller |
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at the times the Acts making appropriations are considered by the |
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comptroller under Article III, Section 49a, of this constitution. |
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(d) The legislature shall provide by general law procedures |
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to implement Subsections (a), (b), and (c) of this section |
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[subsection]. |
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(e) [(b)] If the legislature by adoption of a resolution |
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approved by a record vote of two-thirds [a majority] of the members |
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of each house finds that an emergency exists and identifies the |
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nature of the emergency, the legislature may provide for |
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appropriations in excess of the amount authorized by Subsection (a) |
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of this section. The excess authorized under this subsection may |
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not exceed the amount specified in the resolution. |
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(f) [(c)] In no case shall appropriations exceed revenues as |
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provided in Article III, Section 49a, of this constitution. |
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Nothing in this section shall be construed to alter, amend, or |
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repeal Article III, Section 49a, of this constitution. |
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SECTION 2. Section 49a, Article III, Texas Constitution, is |
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amended by adding Subsections (c) and (d) to read as follows: |
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(c) A bill containing an appropriation may not be considered |
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as passed and may not be sent to the Governor for consideration |
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until the Comptroller of Public Accounts endorses on the bill the |
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comptroller's certificate showing that the amount appropriated |
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does not exceed the limitation on the rate of growth of |
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appropriations imposed by Section 22, Article VIII, of this |
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constitution. |
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(d) When the Comptroller of Public Accounts finds that a |
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bill containing an appropriation exceeds the limitation on the rate |
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of growth of appropriations imposed by Section 22, Article VIII, of |
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this constitution, the comptroller shall endorse that finding on |
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the bill, return the bill to the House in which it originated, and |
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immediately notify the House of Representatives and the Senate of |
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the finding. |
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SECTION 3. Subsection (b), Section 49-g, Article III, Texas |
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Constitution, is amended to read as follows: |
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(b) The comptroller shall, not later than the 90th day of |
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each biennium, transfer to the economic stabilization fund one-half |
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of any unencumbered positive balance of general revenues on the |
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last day of the preceding biennium. If necessary, the comptroller |
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shall reduce the amount transferred in proportion to the other |
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amounts prescribed by this section to prevent the amount in the fund |
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from exceeding the limit in effect for that biennium under |
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Subsection (g) of this section. For purposes of this subsection, |
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general revenues are considered encumbered on the last day of a |
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biennium only to the extent that general revenues are subject to |
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payment for particular identifiable and legally enforceable |
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obligations of this state that were incurred on or before that day |
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and intended to be paid out of appropriations for that biennium. |
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SECTION 4. Article III, Texas Constitution, is amended by |
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adding Section 49-g-1 to read as follows: |
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Sec. 49-g-1. (a) The tax holiday fund is a special fund in |
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the state treasury. Money in the tax holiday fund is not subject to |
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appropriation but may be transferred to the general revenue fund of |
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the state treasury as provided by this section. Interest on money |
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in the tax holiday fund is credited to the tax holiday fund. |
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(b) Not later than the 90th day of each biennium, the |
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comptroller shall transfer to the tax holiday fund the unencumbered |
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positive balance of general revenues on the last day of the |
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preceding biennium that remains after the transfer of revenues to |
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the economic stabilization fund under Subsection (b), Section 49-g, |
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Article III, of this constitution. For purposes of this |
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subsection, general revenues are considered encumbered on the last |
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day of a biennium only to the extent that general revenues are |
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subject to payment for particular identifiable and legally |
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enforceable obligations of this state that were incurred on or |
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before that day and intended to be paid out of appropriations for |
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that biennium. |
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(c) The legislature by general law shall provide a procedure |
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under which a legislative agency, an executive agency, or the |
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governor shall declare a tax holiday period during which sales |
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taxes will not be collected on transactions specified by the |
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legislature on which a sales tax is otherwise imposed. |
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(d) The general law must provide that the comptroller, |
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during the same state fiscal year in which a tax holiday is declared |
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under that law, shall transfer to the general revenue fund out of |
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the tax holiday fund an amount equal to the estimated amount of |
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state sales taxes that would have been collected during the tax |
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holiday period but for the declaration of the holiday period. The |
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general law must prescribe procedures to ensure that a declared tax |
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holiday period will not result in a decrease in estimated state |
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sales tax revenues by an amount that exceeds 90 percent of the |
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balance of the tax holiday fund. |
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(e) The general law must specify the transactions to which a |
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declared tax holiday may apply. |
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SECTION 5. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2008. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment regarding the |
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limitation on the rate of growth in appropriations and the use of |
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unencumbered surplus state revenues to finance a state sales tax |
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holiday." |