84R1008 CJC-D
 
  By: Leach H.J.R. No. 45
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment concerning the limitation on
  the rate of growth in appropriations and the use of unencumbered
  surplus state revenues to provide for a rebate of state franchise
  taxes, to reduce public school district property taxes, and to fund
  the state's rainy day fund.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 22, Article VIII, Texas Constitution, is
  amended to read as follows:
         Sec. 22.  (a)  In no biennium shall the rate of growth of
  appropriations from all sources of revenue other than the federal
  government [state tax revenues not dedicated by this constitution]
  exceed a rate equal to the sum of the estimated rates [rate] of
  increase or decrease, during the biennium preceding the biennium
  for which the appropriations are made, [growth] of:
               (1)  the state's population; and
               (2)  inflation or deflation in this state [economy].
         (b)  The rates described by Subsection (a) of this section
  shall be estimated in the manner provided by general law.  If the
  sum of those estimated rates is a negative number, appropriations
  for the biennium from all sources of revenue other than the federal
  government must decrease by a rate at least equal to the additive
  inverse of the sum of those estimated rates.
         (c)  In this section, the rate of change of appropriations
  from all sources of revenue other than the federal government is the
  percentage difference between:
               (1)  the amount of money appropriated for the current
  biennium from those sources as estimated in the manner prescribed
  by law at or near the time the legislature convenes in regular
  session during the current biennium; and
               (2)  the amount of money appropriated for the next
  biennium from those sources as finally estimated by the comptroller
  at the times the Acts making appropriations are considered by the
  comptroller under Article III, Section 49a, of this constitution.
         (d)  The legislature shall provide by general law procedures
  to implement Subsections (a), (b), and (c) of this section
  [subsection].
         (e) [(b)]  If the legislature by adoption of a resolution
  approved by a record vote of a majority of the members of each house
  finds that an emergency exists and identifies the nature of the
  emergency, the legislature may provide for appropriations in excess
  of the amount authorized by Subsection (a) of this section. The
  excess authorized under this subsection may not exceed the amount
  specified in the resolution.
         (f) [(c)]  In no case shall appropriations exceed revenues
  as provided in Article III, Section 49a, of this constitution.
  Nothing in this section shall be construed to alter, amend, or
  repeal Article III, Section 49a, of this constitution.
         SECTION 2.  Subsection (b), Section 49-g, Article III, Texas
  Constitution, is amended to read as follows:
         (b)  The comptroller shall, not later than the 90th day of
  each biennium, transfer to the economic stabilization fund
  one-third [one-half] of any unencumbered positive balance of
  general revenues on the last day of the preceding biennium. If
  necessary, the comptroller shall reduce the amount transferred in
  proportion to the other amounts prescribed by this section to
  prevent the amount in the fund from exceeding the limit in effect
  for that biennium under Subsection (g) of this section. For
  purposes of this subsection, general revenues are considered
  encumbered on the last day of a biennium only to the extent that
  general revenues are subject to payment for particular identifiable
  and legally enforceable obligations of this state that were
  incurred on or before that day and intended to be paid out of
  appropriations for that biennium.
         SECTION 3.  Article III, Texas Constitution, is amended by
  adding Section 49-g-1 to read as follows:
         Sec. 49-g-1.  (a)  Not later than the 90th day of each state
  fiscal biennium, the comptroller shall ascertain the amount of the
  unencumbered positive balance of general revenues on the last day
  of the preceding state fiscal biennium that remains after the
  transfer of revenues to the economic stabilization fund under
  Subsection (b), Section 49-g, Article III, of this constitution.
  For purposes of this subsection, general revenues are considered
  encumbered on the last day of a state fiscal biennium only to the
  extent that general revenues are subject to payment for particular
  identifiable and legally enforceable obligations of this state that
  were incurred on or before that day and intended to be paid out of
  appropriations for that state fiscal biennium.
         (b)  The legislature by general law shall provide a procedure
  by which the comptroller shall issue to payers of this state's
  franchise tax a rebate of franchise taxes paid during the preceding
  state fiscal biennium so that:
               (1)  the total amount of rebates issued equals the
  lesser of one-half of the amount of the remaining unencumbered
  positive balance of general revenues ascertained under Subsection
  (a) of this section or the total amount of state franchise taxes
  collected during that preceding state fiscal biennium; and
               (2)  each payer of the franchise tax during that
  preceding state fiscal biennium receives a share of the total
  amount of rebates issued that is directly proportionate to the
  share that the amount of that taxpayer's franchise taxes paid
  during that preceding state fiscal biennium bears to the total
  amount of franchise taxes collected during that preceding state
  fiscal biennium.
         (c)  Not later than the 91st day of each state fiscal
  biennium, the comptroller shall transfer to the property tax relief
  fund established by general law one-half of the amount of the
  unencumbered positive balance of general revenues ascertained
  under Subsection (a) of this section to be used for reducing public
  school district property taxes as provided by general law.
         SECTION 4.  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 permit voting for or against the
  proposition: "The constitutional amendment concerning the
  limitation on the rate of growth in appropriations and the use of
  unencumbered surplus state revenues to provide for a rebate of
  state franchise taxes, to reduce public school district property
  taxes, and to fund the state's rainy day fund."