87R1319 JG-D
 
  By: Menéndez S.J.R. No. 17
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment providing for the
  establishment of the Texas Research Consortium to Cure Infectious
  Diseases (TRANSCEND) and authorizing the issuance of general
  obligation bonds to fund collaborative research on and development
  of infectious disease treatments and cures for humans.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article III, Texas Constitution, is amended by
  adding Section 69 to read as follows:
         Sec. 69.  (a) In this section:
               (1)  "Consortium" means the Texas Research Consortium
  to Cure Infectious Diseases (TRANSCEND).
               (2)  "Disease" means a disorder of structure or
  function in a human that produces specific signs or symptoms or
  affects a specific location in the human body and that has the
  potential of being prevented by a vaccine or otherwise treated or
  cured.
         (b)  The legislature by general law shall establish the Texas
  Research Consortium to Cure Infectious Diseases (TRANSCEND) to:
               (1)  award grants to public or private persons or
  entities for the purpose of:
                     (A)  conducting collaborative research on
  infectious diseases and associated conditions and innovative
  methods to prepare for infectious disease outbreaks;
                     (B)  developing treatments and cures, including
  vaccines, for diseases and associated conditions;
                     (C)  developing education initiatives and
  conducting outreach to engage and inform the public on infectious
  diseases and associated conditions; and
                     (D)  developing initiatives to prepare for and
  rapidly respond to infectious disease outbreaks and public health
  crises;
               (2)  establish a centralized research location through
  which the consortium will operate and facilitate collaborative
  research on infectious diseases and related disorders and the
  development of treatments and cures for infectious diseases; and
               (3)  establish appropriate standards and oversight
  bodies for the consortium to ensure money authorized by this
  section is properly used for infectious disease research and
  preparation and for development of infectious disease treatments
  and cures.
         (c)  The legislature by general law shall establish for the
  consortium a governing body and any other decision-making body the
  legislature determines appropriate to govern the consortium. The
  members of the governing body and other decision-making body of the
  consortium serve terms of not more than four years.
         (d)  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 consortium
  in an amount not to exceed $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 any state fiscal 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.
         (e)  Proceeds from the sale of the bonds shall be deposited
  in separate funds or accounts, as provided by general law, within
  the state treasury to be used by the consortium to implement this
  section.
         (f)  Notwithstanding any other provision of this
  constitution, the consortium, which is established in state
  government, may use the proceeds from bonds issued under Subsection
  (d) of this section and any federal or private grants and gifts to:
               (1)  provide grants for the purposes described by
  Subsection (b)(1) of this section;
               (2)  purchase, subject to approval by the governing
  body and any other decision-making body of the consortium, research
  and laboratory facilities by or on behalf of a grant recipient; and
               (3)  operate the consortium.
         (g)  The proceeds from bonds issued under Subsection (d) of
  this section may be used to pay the costs of issuing the bonds and
  any administrative expense related to the bonds.
         (h)  While any bond or interest on a bond authorized by this
  section is outstanding and unpaid, from the first money deposited
  to the state treasury in each state fiscal year not otherwise
  appropriated by this constitution, an amount sufficient to pay the
  principal of and interest on bonds that mature or become due during
  the year and to make payments that become due under a related credit
  agreement during the year is appropriated for purposes of this
  section, less the amount in the sinking fund at the close of the
  previous state fiscal year.
         (i)  A bond issued under this section, after approval by the
  attorney general, registration by the comptroller of public
  accounts, and delivery to the purchasers, is incontestable and is a
  general obligation of this state under this constitution.
         (j)  Before the consortium may make a grant of any proceeds
  of bonds issued under this section, the recipient of the grant must
  have an amount of money equal to one-half the amount of the grant
  dedicated to the research that is the subject of the grant request.
         (k)  The Texas Public Finance Authority shall consider using
  a business whose principal place of business is located in this
  state to issue the bonds authorized by this section, including
  using a historically underutilized business as defined by general
  law.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 2, 2021.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment providing for the
  establishment of the Texas Research Consortium to Cure Infectious
  Diseases (TRANSCEND) and authorizing the issuance of up to $3
  billion in general obligation bonds to fund collaborative research
  on and development of infectious disease treatments and cures for
  humans."