84R3644 JJT-D
 
  By: Otto, Aycock, Darby, Pickett, Simmons, H.J.R. No. 8
      et al.
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to dedicate certain money to
  the purpose of retiring state debt early.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-g, Article III, Texas Constitution,
  is amended by adding Subsections (p) and (q) to read as follows:
         (p)  When the comptroller acts to prevent the amount in the
  economic stabilization fund from exceeding the limit in effect for
  a biennium under Subsection (g) of this section by reducing an
  amount transferred to the fund from general revenue as provided by
  Subsection (b) or (c) of this section or by crediting to general
  revenue interest due to the economic stabilization fund as provided
  by Subsection (i) of this section, the comptroller shall credit to
  an account in the general revenue fund of the state treasury:
               (1)  if the comptroller reduces the amount transferred
  under Subsection (b) of this section, an amount of general revenue
  equal to the difference between the amount transferred to the
  economic stabilization fund under Subsection (b) of this section
  and the amount that would have been transferred under that
  subsection but for the limit in effect under Subsection (g) of this
  section;
               (2)  if the comptroller reduces the amount transferred
  under Subsection (c) of this section, an amount of general revenue
  equal to the difference between the amount transferred to the
  economic stabilization fund under Subsection (c) of this section
  and the amount that would have been transferred under that
  subsection but for the limit in effect under Subsection (g) of this
  section; and
               (3)  if the comptroller reduces the amount credited to
  the economic stabilization fund under Subsection (i) of this
  section, an amount of general revenue equal to the amount credited
  to general revenue under that subsection.
         (q)  General revenue credited to the account in the general
  revenue fund of the state treasury under Subsection (p) of this
  section may be appropriated only for the purpose of retiring state
  debt early.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 3, 2015.
  The ballot shall be printed to provide for voting for or against the
  proposition: "The constitutional amendment to dedicate certain
  money to the purpose of retiring state debt early."