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A BILL TO BE ENTITLED
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AN ACT
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relating to the transfer of certain general revenue to the Texas |
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rail relocation and improvement fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The heading to Section 316.093, Government Code, |
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is amended to read as follows: |
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Sec. 316.093. ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO |
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FUND, TEXAS RAIL RELOCATION AND IMPROVEMENT FUND, AND STATE HIGHWAY |
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FUND. |
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SECTION 2. Sections 316.093(b), (c), and (e), Government |
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Code, are amended to read as follows: |
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(b) If the sum described by Subsection (a) is less than the |
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sufficient balance adopted under Section 316.092, the comptroller |
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shall reduce the allocations [allocation] to the Texas rail |
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relocation and improvement fund and the state highway fund provided |
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by Section 49-g(c), Article III, Texas Constitution, and increase |
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the allocation to the economic stabilization fund, in an [equal] |
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amount equal to the reductions, until the sufficient balance |
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adopted under Section 316.092 is achieved. The reductions under |
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this subsection must be made so that the allocation to a fund is |
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reduced by the same percentage by which the allocation to the other |
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fund is reduced. |
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(c) If under Section 316.092 a sufficient balance has not |
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been adopted for the comptroller to consider under this section, |
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the comptroller shall adjust the allocation of amounts to be |
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transferred to the fund, the Texas rail relocation and improvement |
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fund, and [to] the state highway fund provided by Section 49-g(c), |
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Article III, Texas Constitution, so that the total of those amounts |
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is transferred to the economic stabilization fund, except that the |
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comptroller shall reduce a transfer made under this subsection as |
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necessary to prevent the amount in the fund from exceeding the limit |
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in effect for that biennium under Section 49-g(g) of that article. |
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(e) For the purposes of Section 49-g(c-2), Article III, |
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Texas Constitution, the comptroller shall adjust the allocation |
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provided by Section 49-g(c-1) of that article of amounts to be |
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transferred to the fund, the Texas rail relocation and improvement |
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fund, and [to] the state highway fund under Section 49-g(c) of that |
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article in a state fiscal year beginning on or after September 1, |
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2025, so that the total of those amounts is transferred to the |
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economic stabilization fund, except that the comptroller shall |
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reduce a transfer made under this subsection as necessary to |
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prevent the amount in the fund from exceeding the limit in effect |
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for that biennium under Section 49-g(g) of that article. |
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SECTION 3. This Act takes effect on the date on which the |
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constitutional amendment proposed by the 84th Legislature, Regular |
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Session, 2015, providing for the transfer of certain general |
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revenue to the Texas rail relocation and improvement fund takes |
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effect. If that amendment is not approved by the voters, this Act |
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has no effect. |