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A JOINT RESOLUTION
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proposing a constitutional amendment providing for the creation of |
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and use of money in the education enrichment fund; allocating |
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certain general revenues to that fund, the economic stabilization |
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fund, and the state highway fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 49-g(c), (c-1), (d), and (e), Article |
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III, Texas Constitution, are amended to read as follows: |
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(c) Not later than the 90th day of each fiscal year, the |
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comptroller of public accounts shall transfer from the general |
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revenue fund to the economic stabilization fund, [and] the state |
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highway fund, and the education enrichment fund the sum of the |
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amounts described by Subsections (d) and (e) of this section, to be |
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allocated as provided by Subsection [Subsections] (c-1) [and (c-2)] |
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of this section. However, if necessary and notwithstanding the |
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allocations prescribed by Subsection [Subsections] (c-1) [and
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(c-2)] of this section, the comptroller shall reduce |
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proportionately the amounts described by Subsections (d) and (e) of |
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this section to be transferred and allocated to the economic |
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stabilization fund to prevent the amount in that fund from |
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exceeding the limit in effect for that biennium under Subsection |
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(g) of this section. Revenue transferred to the state highway fund |
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under this subsection may be used only for constructing, |
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maintaining, and acquiring rights-of-way for public roadways other |
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than toll roads. |
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(c-1) The comptroller shall allocate [Of] the sum of the |
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amounts described by Subsections (d) and (e) of this section and |
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required to be transferred from the general revenue fund under |
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Subsection (c) of this section in the manner provided by the |
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legislature by general law [, the comptroller shall allocate
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one-half to the economic stabilization fund and the remainder to
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the state highway fund, except as provided by Subsection (c-2) of
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this section]. |
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(d) If in the preceding year the state received from oil |
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production taxes a net amount greater than the net amount of oil |
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production taxes received by the state in the fiscal year ending |
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August 31, 1987, the comptroller shall transfer under Subsection |
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(c) of this section and allocate in accordance with Subsection |
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[Subsections] (c-1) [and (c-2)] of this section an amount equal to |
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75 percent of the difference between those amounts. The |
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comptroller shall retain the remaining 25 percent of the difference |
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as general revenue. In computing the net amount of oil production |
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taxes received, the comptroller may not consider refunds paid as a |
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result of oil overcharge litigation. |
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(e) If in the preceding year the state received from gas |
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production taxes a net amount greater than the net amount of gas |
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production taxes received by the state in the fiscal year ending |
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August 31, 1987, the comptroller shall transfer under Subsection |
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(c) of this section and allocate in accordance with Subsection |
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[Subsections] (c-1) [and (c-2)] of this section an amount equal to |
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75 percent of the difference between those amounts. The |
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comptroller shall retain the remaining 25 percent of the difference |
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as general revenue. For the purposes of this subsection, the |
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comptroller shall adjust the computation of revenues to reflect |
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only 12 months of collection. |
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SECTION 2. Article III, Texas Constitution, is amended by |
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adding Section 49-g-6 to read as follows: |
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Sec. 49-g-6. (a) The education enrichment fund is |
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established as a fund in the state treasury. |
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(b) The education enrichment fund consists of: |
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(1) money transferred to the fund under Section 49-g |
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of this article; |
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(2) money appropriated to the fund by the legislature; |
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(3) money that the legislature by statute dedicates |
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for deposit to the credit of the fund; |
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(4) gifts or grants contributed to the fund; and |
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(5) investment earnings and interest earned on amounts |
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credited to the fund. |
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(c) The legislature may appropriate money from the |
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education enrichment fund only to provide funding for primary and |
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secondary education. |
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SECTION 3. Section 49-g(c-2), Article III, Texas |
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Constitution, is repealed. |
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SECTION 4. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 86th Legislature, |
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Regular Session, 2019, providing for the creation of the education |
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enrichment fund, dedicating the money in that fund for primary and |
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secondary education, and providing for the transfer of certain |
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general revenues to that fund, the economic stabilization fund, and |
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the state highway fund. |
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(b) Section 49-g-6, Article III, of this constitution, as |
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added by the amendment, and the amendments to Section 49-g, Article |
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III, of this constitution, take effect January 1, 2020. |
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(c) This temporary provision expires January 1, 2021. |
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SECTION 5. 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 permit voting for or against the |
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proposition: "The constitutional amendment providing for the |
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creation of the education enrichment fund, dedicating the money in |
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that fund for primary and secondary education, and providing for |
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the transfer of certain general revenues to that fund, the economic |
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stabilization fund, and the state highway fund." |