| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment to allocate certain surplus |
|
|
state revenue to the retired school employees group insurance fund. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 49-g, Article III, Texas Constitution, |
|
|
is amended by amending Subsections (c), (c-1), and (c-2) and adding |
|
|
Subsection (c-3) to read as follows: |
|
|
(c) Not later than the 90th day of each fiscal year, the |
|
|
comptroller of public accounts shall transfer from the general |
|
|
revenue fund to the economic stabilization fund, [and] the state |
|
|
highway fund, and the retired school employees group insurance fund |
|
|
administered by the Teacher Retirement System of Texas the sum of |
|
|
the amounts described by Subsections (d) and (e) of this section, to |
|
|
be allocated as provided by Subsections (c-1), [and] (c-2), and |
|
|
(c-3) of this section. However, if necessary and notwithstanding |
|
|
the allocations prescribed by Subsections (c-1), [and] (c-2), and |
|
|
(c-3) of this section, the comptroller shall reduce proportionately |
|
|
the amounts described by Subsections (d) and (e) of this section to |
|
|
be transferred and allocated to the economic stabilization fund to |
|
|
prevent the amount in that fund from exceeding the limit in effect |
|
|
for that biennium under Subsection (g) of this section. Revenue |
|
|
transferred to the state highway fund under this subsection may be |
|
|
used only for constructing, maintaining, and acquiring |
|
|
rights-of-way for public roadways other than toll roads. |
|
|
(c-1) Of the sum of the amounts described by Subsections (d) |
|
|
and (e) of this section and required to be transferred from the |
|
|
general revenue fund under Subsection (c) of this section, the |
|
|
comptroller shall allocate one-half to the economic stabilization |
|
|
fund and the remainder to the state highway fund, except as provided |
|
|
by Subsections [Subsection] (c-2) and (c-3) of this section. |
|
|
(c-2) The legislature by general law shall provide for a |
|
|
procedure by which the allocation of the sum of the amounts |
|
|
described by Subsections (d) and (e) of this section may be adjusted |
|
|
to provide for a transfer to the economic stabilization fund of an |
|
|
amount greater than the allocation provided for under Subsection |
|
|
(c-1) of this section with the remainder of that sum, if any, |
|
|
allocated for transfer to the state highway fund or the retired |
|
|
school employees group insurance fund, if applicable. The |
|
|
allocation made as provided by that general law is binding on the |
|
|
comptroller for the purposes of the transfers required by |
|
|
Subsection (c) of this section. |
|
|
(c-3) If the amount of revenue for a biennium that is |
|
|
designated for transfer to the economic stabilization fund under |
|
|
Subsections (b), (d), and (e) of this section exceeds the estimate |
|
|
of the amount of the transfer to the fund that was made for that |
|
|
biennium by the comptroller under Subsection (h) of this section, |
|
|
the comptroller shall transfer any amount of that revenue in excess |
|
|
of the estimated amount to the credit of the retired school |
|
|
employees group insurance fund. |
|
|
SECTION 2. This proposed constitutional amendment shall be |
|
|
submitted to the voters at an election to be held November 7, 2017. |
|
|
The ballot shall be printed to permit voting for or against the |
|
|
proposition: "The constitutional amendment to allocate certain |
|
|
surplus state revenue to the retired school employees group |
|
|
insurance fund." |