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A BILL TO BE ENTITLED
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AN ACT
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relating to directing certain surplus state revenue to the flood |
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infrastructure fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. 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. REDIRECTION OF SURPLUS ECONOMIC |
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STABILIZATION FUND REVENUE TO FLOOD INFRASTRUCTURE FUND. (a) Each |
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time the comptroller reduces an amount to be transferred to the |
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economic stabilization fund as provided by Section 49-g(b) or (c), |
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Article III, Texas Constitution, the comptroller shall transfer to |
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the credit of the flood infrastructure fund an amount of general |
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revenue equal to the amount by which the comptroller reduced the |
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amount of the transfer to the economic stabilization fund. |
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(b) Each time the comptroller credits an amount to general |
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revenue under Section 49-g(i), Article III, Texas Constitution, the |
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comptroller shall transfer an equal amount of general revenue to |
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the credit of the flood infrastructure fund. |
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SECTION 2. This Act takes effect September 1, 2023. |