88R11633 KJE-D
 
  By: Martinez Fischer H.J.R. No. 186
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment providing for the creation of
  the junior college endowment fund and dedicating the interest and
  other investment income from money in the fund to reduce the cost of
  tuition at public junior colleges in this state.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article VII, Texas Constitution, is amended by
  adding Section 22 to read as follows:
         Sec. 22.  (a) The junior college endowment fund is
  established for the purpose of providing a dedicated source of
  funding to reduce the cost of tuition at public junior colleges in
  this state.
         (b)  The fund consists of:
               (1)  money transferred or deposited to the credit of
  the fund; and
               (2)  any interest or other earnings attributable to the
  investment of money in the fund.
         (c)  The comptroller of public accounts shall administer the
  fund.
         (d)  The legislature may not appropriate the principal
  balance of the fund for any purpose.
         (e)  The legislature may appropriate the interest and other
  earnings attributable to the investment of money in the fund only
  for the purpose of reducing the cost of tuition at public junior
  colleges in this state.
         (f)  On January 1, 2024, the comptroller of public accounts
  shall transfer $2 billion of the unencumbered balance of the
  general revenue fund that exists on that date to the junior college
  endowment fund. This subsection expires December 31, 2024.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 7, 2023.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment providing for the
  creation of the junior college endowment fund and dedicating the
  interest and other investment income from money in the fund to
  reduce the cost of tuition at public junior colleges in this state."