By: Taylor H.J.R. No. 18
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment requiring the allocation of
  certain interest and investment income from the economic
  stabilization fund to the purposes of public education, water
  development projects, and transportation.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-g, Article III, Texas Constitution,
  is amended by amending Subsection (g) and adding Subsections (g-1),
  (g-2), and (g-3) to read as follows:
         (g)  During each fiscal biennium, the amount in the economic
  stabilization fund may not exceed an amount equal to 10 percent of
  the total amount, excluding investment income, interest income, and
  amounts borrowed from special funds, deposited in general revenue
  during the preceding biennium. The amount of money required to be
  transferred from the economic stabilization fund under Subsection
  (g-1) of this section is considered to be transferred before any
  amounts are transferred to the fund as required by Subsections (b),
  (c), (d), and (e) of this section, regardless of the actual order in
  which those transfers occur.
         (g-1)  Not later than the 90th day of each state fiscal year,
  the comptroller shall:
               (1)  determine whether the ending balance of the
  economic stabilization fund for the preceding state fiscal year,
  excluding the amount of money from interest and investment income
  received during the preceding state fiscal year, equals or exceeds
  an amount equal to seven percent of the total amount of general
  revenue appropriations made for the state fiscal biennium during
  which the determination is made; and
               (2)  if the ending balance described by Subdivision (1)
  of this subsection equals or exceeds seven percent of the total
  amount of the general revenue appropriations described by that
  subdivision, transfer from the economic stabilization fund the
  amount of money equal to the amount of interest and investment
  income received during the preceding state fiscal year as follows:
                     (A)  one-third of the amount to the permanent
  school fund;
                     (B)  one-third of the amount to the Texas Water
  Development Fund II; and
                     (C)  the remaining amount to the state highway
  fund.
         (g-2)  For purposes of Subsection (g-1) of this section, the
  ending balance of the economic stabilization fund for a state
  fiscal year includes all amounts of money transferred to the
  general revenue fund under Subsection (j) of this section during
  the state fiscal biennium that includes the fiscal year for which
  the ending balance is determined, regardless of whether the money
  has been returned.
         (g-3)  A transfer of money under Subsection (g-1) of this
  section is an appropriation from state tax revenues dedicated by
  this constitution for purposes of determining the rate of growth of
  those appropriations under Section 22, Article VIII, of this
  constitution.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 5, 2013.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment requiring the
  allocation of certain interest and investment income from the
  economic stabilization fund to the purposes of public education,
  water development projects, and transportation."