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A JOINT RESOLUTION
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proposing a constitutional amendment providing for the transfer of |
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certain general revenue to the Texas rail relocation and |
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improvement fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 49-g(c), (c-1), and (c-2), Article III, |
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Texas Constitution, are amended to read as follows: |
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(c) Not later than the 90th day of each fiscal year, the |
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comptroller of public accounts shall transfer from the general |
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revenue fund to the economic stabilization fund, the Texas rail |
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relocation and improvement fund, and the state highway fund the sum |
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of the amounts described by Subsections (d) and (e) of this section, |
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to be allocated as provided by Subsections (c-1) and (c-2) of this |
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section. However, if necessary and notwithstanding the allocations |
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prescribed by Subsections (c-1) and (c-2) of this section, the |
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comptroller shall reduce proportionately the amounts described by |
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Subsections (d) and (e) of this section to be transferred and |
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allocated to the economic stabilization fund to prevent the amount |
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in that fund from exceeding the limit in effect for that biennium |
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under Subsection (g) of this section. Revenue transferred to the |
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state highway fund under this subsection may be used only for |
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constructing, maintaining, and acquiring rights-of-way for public |
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roadways other than toll roads. |
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(c-1) Of the sum of the amounts described by Subsections (d) |
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and (e) of this section and required to be transferred from the |
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general revenue fund under Subsection (c) of this section, the |
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comptroller shall allocate 50 percent [one-half] to the economic |
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stabilization fund, and 50 percent to the state highway fund minus |
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$100 million to be directed to the Texas rail relocation and |
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improvement fund, except as provided by Subsection (c-2) of this |
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section. |
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(c-2) The legislature by general law shall provide for a |
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procedure by which the allocation of the sum of the amounts |
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described by Subsections (d) and (e) of this section may be adjusted |
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to provide for a transfer to the economic stabilization fund of an |
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amount greater than the allocation provided for under Subsection |
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(c-1) of this section with the remainder of that sum, if any, |
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allocated for transfer to the Texas rail relocation and improvement |
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fund and the state highway fund. The allocation made as provided by |
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that general law is binding on the comptroller for the purposes of |
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the transfers required by Subsection (c) of this section. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 3, 2015. |
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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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transfer of certain general revenue to the Texas rail relocation |
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and improvement fund." |