Amend CSSJR 5 (senate committee report) as follows:
(1) In SECTION 1 of the resolution, in added Section 49-g(p), Article III, Texas Constitution (page 1, lines 36 through 43), strike the first sentence of the subsection and substitute the following:
On the first business day occurring on or after the 90th day of each state fiscal year, an amount, if the amount is greater than zero, equal to the lesser of $100 million or the interest and other earnings attributable to the investment of money in the economic stabilization fund for the preceding state fiscal year is appropriated from the economic stabilization fund to the comptroller of public accounts for the purpose of immediate deposit to the credit of the Texas University Fund.
(2) In the recital to SECTION 2 of the resolution, amending Section 20, Article VII, Texas Constitution (page 1, line 59), strike "Subsection (a)" and substitute "Subsections (a) and (g)".
(3) In SECTION 2 of the resolution, amending Section 20, Article VII, Texas Constitution (page 2, between lines 5 and 6), insert the following:
(g) The legislature shall establish criteria by which a state university may become eligible to receive a portion of the distributions from the fund. [A state university that becomes eligible to receive a portion of the distributions from the fund in a state fiscal biennium remains eligible to receive additional distributions from the fund in any subsequent state fiscal biennium.] The University of Texas at Austin and Texas A&M University are not eligible to receive money from the fund.
(4) In SECTION 3 of the resolution, strike the proposed ballot language (page 2, lines 17 through 22) and substitute the following:
"The constitutional amendment relating to the Texas University Fund, which provides funding to certain institutions of higher education to achieve national prominence as major research universities and drive the state economy."