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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 provide for a rebate of |
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state franchise taxes, to reduce public school district property |
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taxes, and to fund the state's rainy day fund. |
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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 [economy]. |
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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. If the |
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sum of those estimated rates is a negative number, appropriations |
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for the biennium from all sources of revenue other than the federal |
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government must decrease by a rate at least equal to the sum of |
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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 |
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as 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 25 |
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percent [one-half] of any unencumbered positive balance of general |
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revenues on the last day of the preceding biennium. If necessary, |
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the comptroller shall reduce the amount transferred in proportion |
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to the other amounts prescribed by this section to prevent the |
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amount in the fund from exceeding the limit in effect for that |
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biennium under Subsection (g) of this section. 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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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) Not later than the 90th day of each state |
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fiscal biennium, the comptroller shall ascertain the amount of the |
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unencumbered positive balance of general revenues on the last day |
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of the preceding state fiscal biennium that remains after the |
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transfer of revenues to the economic stabilization fund under |
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Subsection (b), Section 49-g, Article III, of this constitution. |
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For purposes of this subsection, general revenues are considered |
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encumbered on the last day of a state fiscal biennium only to the |
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extent that general revenues are subject to payment for particular |
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identifiable and legally enforceable obligations of this state that |
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were incurred on or before that day and intended to be paid out of |
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appropriations for that state fiscal biennium. |
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(b) The legislature by general law shall provide a procedure |
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by which the comptroller shall issue to payers of this state's |
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franchise tax a rebate of franchise taxes paid during the preceding |
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state fiscal biennium such that: |
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(1) the total amount of rebates issued equals |
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one-third of the amount of the remaining unencumbered positive |
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balance of general revenues ascertained under Subsection (a) of |
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this section, not to exceed the total amount of state franchise |
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taxes collected during that preceding state fiscal biennium; and |
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(2) each payer of the franchise tax during that |
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preceding state fiscal biennium receives a share of the total |
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amount of rebates issued that is directly proportionate to the |
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share that the amount of that taxpayer's franchise taxes paid |
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during that preceding state fiscal biennium bears to the total |
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amount of franchise taxes collected during that preceding state |
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fiscal biennium. |
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(c) Not later than the 91st day of each state fiscal |
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biennium, the comptroller shall transfer to the property tax relief |
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fund established by general law two-thirds of the amount of the |
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unencumbered positive balance of general revenues ascertained |
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under Subsection (a) of this section to be used for reducing public |
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school district property taxes as provided by general law. |
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SECTION 5. (a) This proposed constitutional amendment |
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shall be submitted to the voters at an election to be held November |
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6, 2012. |
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(b) The ballot shall be printed to permit voting for or |
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against the proposition: "The constitutional amendment regarding |
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the limitation on the rate of growth in appropriations and the use |
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of unencumbered surplus state revenues to provide for a rebate of |
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state franchise taxes, to reduce public school district property |
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taxes, and to fund the state's rainy day fund." |