By: Schwertner S.J.R. No. 56

(In the Senate - Filed February 22, 2023; March 3, 2023, read first time and referred to Committee on Finance; April 17, 2023, reported adversely, with favorable Committee Substitute by the following vote: Yeas 17, Nays 0; April 17, 2023, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR S.J.R. No. 56 By: Schwertner

SENATE JOINT RESOLUTION

proposing a constitutional amendment to raise the maximum allowable amount of money in the economic stabilization fund.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 49-g(g), Article III, Texas Constitution, is amended to read as follows:

(g) During each fiscal biennium, the amount in the economic stabilization fund may not exceed an amount equal to 15 [10] percent of the total amount, excluding investment income, interest income, and amounts borrowed from special funds, deposited in general revenue during the preceding biennium.

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 to raise the maximum allowable amount of money in the economic stabilization fund."

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