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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation of certain constitutional transfers of |
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money to the economic stabilization fund, the state highway fund, |
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and the Grow Texas fund and to the permissible uses of money |
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deposited to the Grow Texas fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The heading to Subchapter H, Chapter 316, |
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Government Code, is amended to read as follows: |
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SUBCHAPTER H. ALLOCATION OF CONSTITUTIONAL TRANSFERS TO CERTAIN |
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FUNDS [ECONOMIC STABILIZATION FUND AND STATE HIGHWAY FUND] |
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SECTION 2. The heading to Section 316.092, Government Code, |
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is amended to read as follows: |
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Sec. 316.092. DETERMINATION OF THRESHOLD FOR |
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CONSTITUTIONAL TRANSFER TO CERTAIN FUNDS [STATE HIGHWAY FUND]. |
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SECTION 3. The heading to Section 316.093, Government Code, |
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is amended to read as follows: |
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Sec. 316.093. ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO |
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CERTAIN FUNDS [FUND AND STATE HIGHWAY FUND]. |
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SECTION 4. Section 316.093, Government Code, is amended by |
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amending Subsections (a), (b), and (d) and adding Subsection (e) to |
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read as follows: |
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(a) Before the comptroller makes transfers for a state |
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fiscal year in accordance with Section 49-g(c), Article III, Texas |
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Constitution, the comptroller shall determine whether the sum of |
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the balance of the fund on the preceding August 31, any projected |
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transfer to the fund under Section 49-g(b) of that article, [and] |
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any projected transfer to the fund under Section 49-g(c) of that |
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article in accordance with the allocations for the transfer as |
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provided by Section 49-g(c-1) of that article, and any increase in |
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the projected amount of the allocation to the fund under Section |
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49-g(c-2) of that article as provided by Subsection (c) of this |
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section is less than the amount determined under Section 316.092 |
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for that state fiscal biennium. |
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(b) If the sum described by Subsection (a) is less than the |
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amount determined under Section 316.092 for that state fiscal |
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biennium, the comptroller shall reduce proportionately the amount |
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allocated [allocation] to the state highway fund provided by |
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Section 49-g(c-1) [49-g(c)], Article III, Texas Constitution, and |
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the amount by which the transfer to the economic stabilization fund |
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under that subsection is reduced and a corresponding amount is |
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transferred to the Grow Texas fund as provided by Section 49-g(c-3) |
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of that article, and increase the allocation to the economic |
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stabilization fund[,] in an [equal] amount equal to the reduction |
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of those amounts[,] until the amount determined under Section |
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316.092 for that state fiscal biennium would be achieved by the |
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transfer to the fund or the total amount of the sum described by |
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Section 49-g(c), Article III, Texas Constitution, is allocated to |
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the fund, whichever occurs first. This subsection expires December |
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31, 2034. |
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(d) The adjustment required of the comptroller under |
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Subsection (c) does not increase the amount by which the allocation |
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to the economic stabilization fund is reduced and a corresponding |
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amount is transferred to the Grow Texas fund under Section |
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49-g(c-3), Article III, Texas Constitution. [Subsections (a) and |
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(b) and this subsection expire December 31, 2034.] |
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(e) If the sum described by Subsection (a) is less than the |
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amount determined under Section 316.092 for a state fiscal biennium |
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beginning on or after September 1, 2035, the comptroller shall |
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reduce the amount by which the transfer to the economic |
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stabilization fund under Section 49-g(c), Article III, Texas |
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Constitution, is reduced and a corresponding amount is transferred |
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to the Grow Texas fund as provided by Section 49-g(c-3) of that |
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article and increase the allocation to the economic stabilization |
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fund in an amount equal to the reduction of those amounts until the |
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amount determined under Section 316.092 for that state fiscal |
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biennium would be achieved by the transfer to the fund or the total |
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amount of the sum described by Section 49-g(c), Article III, Texas |
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Constitution, is allocated to the fund, whichever occurs first. |
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SECTION 5. Subchapter G, Chapter 403, Government Code, is |
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amended by adding Section 403.108 to read as follows: |
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Sec. 403.108. GROW TEXAS GRANT PROGRAM. (a) In this |
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section: |
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(1) "Commission" means the Grow Texas fund commission |
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created under Section 49-g-1(e), Article III, Texas Constitution. |
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(2) "Fund" means the Grow Texas fund established under |
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Section 49-g-1(a), Article III, Texas Constitution. |
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(b) The legislature may appropriate money in the fund to the |
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comptroller for the purpose of funding grants to applicants |
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selected by the commission under the program established under |
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Subsection (c). |
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(c) The comptroller and the commission shall jointly |
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establish a program under which the commission may select |
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applicants to receive grants provided by the comptroller to |
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construct or maintain roads, schools, health care facilities, and |
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other infrastructure in the areas of this state the commission |
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determines to be significantly affected by oil and gas production. |
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(d) The commission shall establish: |
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(1) eligibility criteria for grant applicants; |
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(2) guidelines relating to grant amounts; and |
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(3) procedures for evaluating and approving or denying |
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grant applications. |
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(e) The comptroller shall: |
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(1) establish the procedure for applying for a grant; |
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(2) adopt a form that must be used by an applicant to |
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apply for a grant; and |
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(3) establish procedures for monitoring the use of a |
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grant provided under the program and ensuring compliance with any |
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conditions of a grant. |
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(f) The comptroller shall adopt rules to implement and |
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administer this section. |
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SECTION 6. Section 316.092(b), Government Code, is |
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repealed. |
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SECTION 7. This Act takes effect September 1, 2025, but only |
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if the constitutional amendment proposed by the 88th Legislature, |
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Regular Session, 2023, providing for the creation of and use of |
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money in the Grow Texas fund and allocating certain general |
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revenues to that fund, the economic stabilization fund, and the |
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state highway fund is approved by the voters. If that amendment is |
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not approved by the voters, this Act has no effect. |