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A JOINT RESOLUTION
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proposing a constitutional amendment providing for the creation of |
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the new capacity fund and the dedication of certain state revenue to |
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that fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding Section 49-q to read as follows: |
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Sec. 49-q. (a) In this section: |
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(1) "Commission" means the governing body of the state |
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agency responsible for transportation. |
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(2) "Obligation" means bonds, notes, and other public |
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securities. |
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(b) The new capacity fund is created as a special fund in the |
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state treasury outside the general revenue fund and shall be |
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administered by the commission. |
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(c) Money deposited to the credit of the new capacity fund: |
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(1) is dedicated to new capacity transportation |
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projects, including planning of, acquisition of rights-of-way for, |
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engineering for, design of, and construction of those projects, and |
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may be used only for those purposes; |
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(2) may not be used for the construction or financing |
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of toll roads or for participation in a comprehensive development |
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agreement; and |
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(3) may not be used to pay for the cost or issuance of |
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obligations of the state or related credit agreements. |
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(d) Notwithstanding Section 7-a, Article VIII, of this |
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constitution, the new capacity fund consists of: |
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(1) after payment of all expenses of collection, |
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revenues derived from any: |
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(A) increase in motor vehicle registration fees |
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imposed throughout the state on or after September 1, 2013; and |
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(B) additional motor vehicle registration fee |
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imposed throughout the state on or after September 1, 2013; |
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(2) any other money transferred by law to the fund; and |
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(3) interest earned on the balance of the fund. |
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(e) The commission may not issue or sell obligations of the |
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state or enter into related credit agreements that are payable from |
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or secured by a pledge of or a lien on the money on deposit in the |
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new capacity fund. |
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(f) The legislature by general law shall prescribe the |
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manner in which money in the fund may be used, subject to the |
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limitations provided by this section. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 83rd Legislature, |
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Regular Session, 2013, providing for the creation of the new |
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capacity fund and the dedication of certain state revenue to that |
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fund. |
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(b) On the effective date of that constitutional amendment, |
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the comptroller of public accounts shall transfer an amount equal |
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to, after payment of all expenses of collection, the amount of |
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revenues derived from any: |
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(1) increase in motor vehicle registration fees |
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imposed throughout the state on or after September 1, 2013; and |
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(2) additional motor vehicle registration fee imposed |
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throughout the state on or after September 1, 2013. |
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(c) This temporary provision expires January 1, 2015. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 5, 2013. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment providing for the |
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creation of the new capacity fund and the dedication of certain |
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state revenue to that fund." |