Amend CSHJR 14 (Senate committee printing) on third reading 
as follows:    
	(1)  Designate the existing SECTIONS of the resolution as 
ARTICLE 1 and renumber its SECTIONS as SECTION 1.01 and 1.02.
	(2)  In renumbered SECTION 1.02, strike "This proposed 
constitutional amendment" and substitute "The constitutional 
amendment proposed by this article".
	(3)  Insert the following ARTICLE 2 to the resolution:                         

ARTICLE 2
	SECTION 2.01.  Article VII, Texas Constitution, is amended 
by adding Section 20 to read as follows:
	Sec. 20.  (a)  There is established the national research 
university fund for the purpose of providing a dedicated, 
independent, and equitable source of funding to enable emerging 
research universities in this state to achieve national prominence 
as major research universities.
	(b)  The fund consists of money transferred or deposited to 
the credit of the fund and any interest or other return on the 
investment assets of the fund.  The legislature may dedicate state 
revenue to the credit of the fund.
	(c)  The legislature shall provide for administration of the 
fund, which shall be invested in the manner and according to the 
standards provided for investment of the permanent university fund.  
The expenses of managing the investments of the fund shall be paid 
from the fund.
	(d)  In each state fiscal biennium, the legislature may 
appropriate as provided by Subsection (f) of this section all or a 
portion of the total return on all investment assets of the fund to 
carry out the purposes for which the fund is established.
	(e)  The legislature biennially shall allocate the amounts 
appropriated under this section, or shall provide for a biennial 
allocation of those amounts, to eligible state universities to 
carry out the purposes of the fund.  The money shall be allocated 
based on an equitable formula established by the legislature or an 
agency designated by the legislature.  The legislature shall review 
and as appropriate adjust, or provide for a review and adjustment, 
of the allocation formula at the end of each state fiscal biennium.
	(f)  The portion of the total return on investment assets of 
the fund that is available for appropriation in a state fiscal 
biennium under this section is the portion necessary to provide as 
nearly as practicable a stable and predictable stream of annual 
distributions to eligible state universities and to maintain over 
time the purchasing power of fund investment assets.  If the 
purchasing power of fund investment assets for any rolling 10-year 
period is not preserved, the legislature may not appropriate money 
from the fund until the purchasing power of the fund investment 
assets is restored.  The amount appropriated from the fund in any 
fiscal year may not exceed an amount equal to seven percent of the 
average net fair market value of the investment assets of the fund.
	(g)  The legislature shall establish criteria by which a 
state university may become eligible to receive a portion of the 
distributions from the fund.  A state university that becomes 
eligible to receive a portion of the distributions from the fund in 
a state fiscal biennium remains eligible to receive additional 
distributions from the fund in any subsequent state fiscal 
biennium.  The University of Texas at Austin, Texas A&M University, 
and Prairie View A&M University are not eligible to receive money 
from the fund.
	(h)  An eligible state university may use distributions from 
the fund only for the support and maintenance of educational and 
general activities that promote increased research capacity at the 
university.
	SECTION 2.02.  Subsection (i), Section 17, Article VII, 
Texas Constitution, is repealed.
	SECTION 2.03.  The following temporary provision is added to 
the Texas Constitution:
	TEMPORARY PROVISION.  (a)  This temporary provision applies 
to the constitutional amendment proposed by the 81st Legislature, 
Regular Session, 2009, establishing the national research 
university fund to enable emerging research universities in this 
state to achieve national prominence as major research universities 
and transferring the balance of the higher education fund to the 
national research university fund.
	(b)  The amendment to add Section 20 to Article VII of this 
constitution and to repeal Section 17(i), Article VII, of this 
constitution takes effect January 1, 2010.
	(c)  On January 1, 2010, any amount in or payable to the 
credit of the higher education fund established by Section 17(i), 
Article VII, Texas Constitution, shall be transferred to the credit 
of the national research university fund.
	(d)  This temporary provision expires January 1, 2011.                  
	SECTION 2.04.  The constitutional amendment proposed by this 
Article shall be submitted to the voters at an election to be held 
November 3, 2009.  The ballot shall be printed to permit voting for 
or against the proposition:  "The constitutional amendment 
establishing the national research university fund to enable 
emerging research universities in this state to achieve national 
prominence as major research universities and transferring the 
balance of the higher education fund to the national research 
university fund."