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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to provide for a transfer of economic stabilization fund investment |
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earnings to a special endowment fund in the state treasury. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49-g(i), Article III, Texas |
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Constitution, is amended to read as follows: |
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(i) The comptroller shall credit to general revenue |
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interest due to the economic stabilization fund that would result |
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in an amount in the economic stabilization fund that exceeds the |
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limit in effect under Subsection (g) of this section. The |
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legislature by general law may authorize the comptroller to |
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transfer economic stabilization fund investment earnings to the |
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principal balance of a special fund that is established in the state |
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treasury as an endowment to provide investment returns as an |
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additional resource to finance state spending priorities. |
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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 5, 2019. |
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The ballot shall be printed to provide for voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to provide for a transfer of economic stabilization |
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fund investment earnings to a special endowment fund in the state |
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treasury." |