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A BILL TO BE ENTITLED
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AN ACT
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relating to the state spending limit. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 316.002, Government Code, is amended by |
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amending sections (a) and (b) to read as follows: |
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(a) Before the Legislative Budget Board submits the budget |
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as prescribed by Section 322.008(c), the board shall establish: |
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(1) the estimated rate of growth of the state's economy |
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from the current biennium to the next biennium and an updated |
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estimated rate of growth of the state's economy from the previous |
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biennium through the current biennium; |
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(2) the level of appropriations for the current and |
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previous bienniums from state tax revenues not dedicated by the |
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constitution; and |
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(3) the amount of state tax revenues not dedicated by |
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the constitution that could be appropriated for the next biennium |
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within the limit established by the estimated rate of growth of the |
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state's economy.; and |
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(4) the amount of state tax revenues not dedicated by |
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the constitution that could be appropriated for the current |
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biennium. |
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(b) Except as provided by Subsection (c), the board shall |
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determine the estimated rate of growth of the state's economy for |
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the next biennium by dividing the estimated Texas total personal |
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income for the next biennium by the estimated Texas total personal |
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income for the current biennium, and for the current biennium by |
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dividing the estimated Texas total personal income for the current |
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biennium by the estimated Texas total personal income for the |
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previous biennium. Using standard statistical methods, the board |
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shall make the estimate by projecting through the biennium the |
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estimated Texas total personal income reported by the United States |
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Department of Commerce or its successor in function. |
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SECTION 2. This Act takes effect September 1, 2013. |