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A JOINT RESOLUTION
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proposing a constitutional amendment relating to legislative |
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authority to permit credit unions and other financial institutions |
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to award prizes by lot to promote savings. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 47, Article III, Texas Constitution, is |
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amended by adding Subsection (d-2) to read as follows: |
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(d-2) Subsection (a) of this section does not prohibit the |
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legislature from authorizing credit unions and other financial |
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institutions to conduct, under the terms and conditions imposed by |
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general law, promotional activities to promote savings in which |
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prizes are awarded to one or more of the credit union's or financial |
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institution's depositors selected by lot. |
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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 7, 2017. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment relating to legislative |
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authority to permit credit unions and other financial institutions |
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to award prizes by lot to promote savings." |