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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation and dedication of certain revenue to the |
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foundation school fund, the economic stabilization fund, and the |
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state highway fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 316.093, Government Code, is amended by |
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amending Subsections (c) and (f) and adding Subsections (d) and |
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(e-1) to read as follows: |
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(c) If under Section 316.092 a sufficient balance has not |
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been adopted for the comptroller to consider under this section, |
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the comptroller shall adjust the allocation of amounts to be |
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transferred to the fund and to the state highway fund provided by |
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Section 49-g(c), Article III, Texas Constitution, so that the total |
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of those amounts is transferred to the foundation school fund |
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[economic stabilization fund, except that the comptroller shall
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reduce a transfer made under this subsection as necessary to
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prevent the amount in the fund from exceeding the limit in effect
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for that biennium under Section 49-g(g) of that article]. |
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(d) If the sum described by Subsection (a) is equal to or |
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greater than the sufficient balance adopted under Section 316.092, |
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the comptroller shall adjust the allocation provided by Section |
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49-g(c-1), Article III, Texas Constitution, of the amounts to be |
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transferred under Section 49-g(c) of that article so that one-half |
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of the total of the amounts is allocated to be transferred to the |
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state highway fund, a portion of that total is allocated to be |
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transferred to the economic stabilization fund only to the extent a |
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transfer is necessary for that fund's balance to equal the adopted |
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sufficient balance, and the remainder of that total, if any, is |
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allocated to be transferred to the foundation school fund. |
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(e-1) Money allocated to be transferred to the foundation |
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school fund under this section may be used only for the purposes of |
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public primary and secondary education. |
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(f) Subsections (a), (b), [and] (c), (d), and (e-1) and this |
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subsection expire December 31, 2024. |
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SECTION 2. This Act takes effect January 1, 2020, but only |
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if the constitutional amendment proposed by the 86th Legislature, |
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Regular Session, 2019, authorizing the legislature to provide for |
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certain revenues otherwise allocated for transfer to the economic |
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stabilization fund to be used for purposes related to public |
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primary and secondary education is approved by the voters. If that |
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amendment is not approved by the voters, this Act has no effect. |