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A BILL TO BE ENTITLED
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AN ACT
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relating to the determination of the sufficient balance of the |
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economic stabilization fund for purposes of allocating general |
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revenue to that fund and the state highway fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 316.092(a), (b), and (c), Government |
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Code, are amended to read as follows: |
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(a) Not later than September 1 of each even-numbered year |
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[preceding the year in which this section expires as provided by
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Subsection (e)], the speaker of the house of representatives and |
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the lieutenant governor shall appoint a select committee as |
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follows: |
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(1) the speaker of the house of representatives shall |
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appoint five members of the house of representatives as members of |
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the committee; and |
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(2) the lieutenant governor shall appoint five members |
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of the senate as members of the committee. |
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(b) For the purposes of Section 49-g(c-2), Article III, |
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Texas Constitution, not later than December 1 of each even-numbered |
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year [preceding the year in which this section expires as provided
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by Subsection (e)], the select committee shall determine and adopt |
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for the next state fiscal biennium a sufficient balance of the fund |
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in an amount that the committee estimates will ensure an |
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appropriate amount of revenue available in the fund. In |
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determining the sufficient balance for that fiscal biennium, the |
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committee shall consider: |
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(1) the history of fund balances; |
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(2) the history of transfers to the fund; |
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(3) estimated fund balances during that fiscal |
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biennium; |
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(4) estimated transfers to the fund to occur during |
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that fiscal biennium; |
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(5) information available to the committee regarding |
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state highway congestion and funding demands; and |
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(6) any other information requested by the committee |
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regarding the state's financial condition. |
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(c) On or before October 1 of each even-numbered year |
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[preceding the year in which this section expires as provided by
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Subsection (e)], the comptroller shall provide to the select |
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committee the comptroller's projection of the amounts to be |
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transferred to the fund during the next state fiscal biennium. |
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SECTION 2. The following provisions of the Government Code |
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are repealed: |
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(1) Section 316.092(e); |
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(2) Sections 316.093(e) and (f); and |
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(3) Section 404.0241(d). |
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SECTION 3. This Act takes effect September 1, 2019. |