| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment establishing the state |
|
|
deferred maintenance fund to provide funding for deferred |
|
|
maintenance at state facilities and transferring economic |
|
|
stabilization fund money to that fund. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 49-g, Article III, Texas Constitution, |
|
|
is amended by adding Subsection (n-1) to read as follows: |
|
|
(n-1) On January 1, 2020, the comptroller shall transfer |
|
|
$1.8 billion of the unobligated and otherwise unappropriated |
|
|
balance of the economic stabilization fund to the state deferred |
|
|
maintenance fund. The transfer made under this subsection is not an |
|
|
appropriation of state tax revenues for the purposes of Section 22, |
|
|
Article VIII, of this constitution. This subsection expires |
|
|
January 1, 2021. |
|
|
SECTION 2. Article III, Texas Constitution, is amended by |
|
|
adding Section 49-g-4 to read as follows: |
|
|
Sec. 49-g-4. (a) The state deferred maintenance fund is |
|
|
established as a fund in the state treasury to be administered by |
|
|
the comptroller of public accounts. |
|
|
(b) The fund consists of: |
|
|
(1) money transferred to the fund under Section 49-g |
|
|
of this article; |
|
|
(2) money appropriated, credited, or transferred to |
|
|
the fund by the legislature, including the proceeds of any fee or |
|
|
tax imposed by this state that by statute are dedicated for deposit |
|
|
to the credit of the fund and any other revenue the legislature by |
|
|
statute dedicates for deposit to the credit of the fund; and |
|
|
(3) investment earnings and interest earned on amounts |
|
|
credited to the fund. |
|
|
(c) Money in the fund may be appropriated only to provide |
|
|
funding for deferred maintenance at state facilities as provided by |
|
|
general law or in accordance with an applicable federal law. An |
|
|
appropriation from the fund is not an appropriation of state tax |
|
|
revenues for purposes of Section 22, Article VIII, of this |
|
|
constitution. |
|
|
(d) On September 1, 2031, the comptroller of public accounts |
|
|
shall: |
|
|
(1) determine the amount, if any, of the money |
|
|
transferred to the fund from the economic stabilization fund on |
|
|
January 1, 2020, that remains in the fund and is unobligated on |
|
|
August 31, 2031, and the amount of any investment earnings or |
|
|
interest attributable to that amount that is in the fund and |
|
|
unobligated on that date; and |
|
|
(2) transfer the sum of the amounts determined under |
|
|
Subdivision (1) of this subsection from the fund to the general |
|
|
revenue fund. |
|
|
(e) Subsection (d) of this section and this subsection |
|
|
expire January 1, 2032. |
|
|
SECTION 3. 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 establishing the |
|
|
deferred maintenance fund to provide funding for deferred |
|
|
maintenance at state facilities and transferring economic |
|
|
stabilization fund money to that fund." |