By: Zerwas, et al. H.J.R. No. 12

(Senate Sponsor - Nelson, et al.)

(In the Senate - Received from the House April 17, 2019; May 1, 2019, read first time and referred to Committee on Finance; May 7, 2019, reported favorably by the following vote: Yeas 14, Nays 0; May 7, 2019, sent to printer.) Click here to see the committee vote

HOUSE JOINT RESOLUTION

proposing a constitutional amendment authorizing the legislature to increase the maximum bond amount authorized for the Cancer Prevention and Research Institute of Texas.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 67(c), Article III, Texas Constitution, is amended to read as follows:

(c) The legislature by general law may authorize the Texas Public Finance Authority to provide for, issue, and sell general obligation bonds of the State of Texas on behalf of the Cancer Prevention and Research Institute of Texas in an amount not to exceed $6 [$3] billion and to enter into related credit agreements. The Texas Public Finance Authority may not issue more than $300 million in bonds authorized by this subsection in a year. The bonds shall be executed in the form, on the terms, and in the denominations, bear interest, and be issued in installments as prescribed by the Texas Public Finance Authority.

SECTION 2. This proposed constitutional amendment shall be submitted to the voters at an election to be held November 5, 2019. The ballot shall be printed to permit voting for or against the proposition: "The constitutional amendment authorizing the legislature to increase by $3 billion the maximum bond amount authorized for the Cancer Prevention and Research Institute of Texas."

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