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SENATE JOINT RESOLUTION
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proposing a constitutional amendment increasing dedicated funding |
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for the major repair or rehabilitation of buildings and other |
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permanent improvements of institutions of higher education that |
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were not created as a part of The University of Texas System or The |
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Texas A&M University System. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsections (b) and (i), Section 17, Article |
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VII, Texas Constitution, are amended to read as follows: |
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(b) The funds appropriated under Subsection (a) of this |
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section shall be for the use of the following eligible agencies and |
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institutions of higher education (even though their names may be |
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changed): |
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(1) [East Texas State University including East Texas
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State University at Texarkana;
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[(2)] Lamar University including Lamar University at |
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Orange and Lamar University at Port Arthur; |
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(2) [(3)] Midwestern State University; |
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(3) [(4)] University of North Texas; |
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(4) [(5)] The University of Texas--Pan American |
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including The University of Texas at Brownsville; |
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(5) [(6)] Stephen F. Austin State University; |
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(6) [(7)] Texas College of Osteopathic Medicine; |
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(7) [(8)] Texas State University System |
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Administration and the following component institutions: |
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(8) [(9)] Angelo State University; |
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(9) [(10)] Sam Houston State University; |
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(10) [(11)] Southwest Texas State University; |
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(11) [(12)] Sul Ross State University including |
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Uvalde Study Center; |
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(12) [(13)] Texas Southern University; |
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(13) [(14)] Texas Tech University; |
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(14) [(15)] Texas Tech University Health Sciences |
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Center; |
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(15) [(16)] Texas Woman's University; |
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(16) [(17)] University of Houston System |
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Administration and the following component institutions: |
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(17) [(18)] University of Houston; |
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(18) [(19)] University of Houston--Victoria; |
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(19) [(20)] University of Houston--Clear Lake; |
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(20) [(21)] University of Houston--Downtown; |
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(21) [(22)] Texas A&M University--Corpus Christi; |
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(22) [(23)] Texas A&M International University; |
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(23) [(24)] Texas A&M University--Kingsville; |
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(24) Texas A&M University--Commerce; |
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(25) Texas A&M University--Texarkana; |
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(26) West Texas A&M University; and |
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(27) [(26)] Texas State Technical College System and |
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its campuses, but not its extension centers or programs. |
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(i) The legislature by general law may dedicate portions of |
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the state's revenues to the creation of a dedicated fund ("the |
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higher education fund") for the purposes expressed in Subsection |
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(a) of this section. The legislature shall provide for |
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administration of the fund, which shall be invested in the manner |
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provided for investment of the permanent university fund. The |
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income from the investment of the higher education fund shall be |
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credited to the higher education fund until such time as the fund |
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totals $2 billion. The principal of the higher education fund shall |
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never be expended. [At the beginning of the fiscal year after the
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fund reaches $2 billion, as certified by the comptroller of public
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accounts, the dedication of general revenue funds provided for in
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Subsection (a) of this section shall cease.] At the beginning of |
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the fiscal year after the fund reaches $2 billion, and each year |
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thereafter, 10 percent of the interest, dividends, and other income |
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accruing from the investments of the higher education fund during |
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the previous fiscal year shall be deposited and become part of the |
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principal of the fund, and [out of] the remainder of the annual |
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income from the investment of the principal of the fund [there] |
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shall be appropriated and [an annual sum sufficient to pay the
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principal and interest due on the bonds and notes issued under this
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section and the balance of the income] shall be allocated, |
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distributed, and expended to address the major repair or |
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rehabilitation of buildings, facilities, and other permanent |
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improvements in addition to the amounts appropriated [as provided
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for the appropriations made] under Subsection (a). |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 6, 2007. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment increasing dedicated |
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funding for the major repair or rehabilitation of buildings and |
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other permanent improvements of certain institutions of higher |
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education that were not created as a part of The University of Texas |
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System or The Texas A&M University System." |
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