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A JOINT RESOLUTION
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proposing a constitutional amendment establishing the Texas Health |
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Care Workforce Education Fund to provide funding to eligible |
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institutions of higher education to address Texas' health care |
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workforce needs and drive the state economy. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VII, Texas Constitution, is amended by |
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adding Section 21 to read as follows: |
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Sec. 21. (a) The Texas Health Care Workforce Education Fund |
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is established for the purpose of providing a dedicated, |
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independent, and equitable source of funding to enable |
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comprehensive regional universities in this state to address Texas' |
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health care workforce needs. |
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(b) The fund consists of: |
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(1) money appropriated, credited, or transferred to |
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the fund by the legislature; |
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(2) gifts, grants, and donations received for purposes |
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of the fund; and |
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(3) investment earnings and interest earned on amounts |
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credited to the fund. |
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(c) The legislature shall provide for administration of the |
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fund, which shall be invested in the manner and according to the |
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standards provided for investment of the permanent university fund. |
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The expenses of managing the fund and its assets shall be paid from |
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the fund. |
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(d) In each state fiscal biennium, the legislature may |
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appropriate as provided by Subsection (f) of this section all or a |
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portion of the total return on all investment assets of the fund to |
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carry out the purposes for which the fund is established. |
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(e) The legislature biennially shall allocate the amounts |
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appropriated under this section, or shall provide for a biennial |
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allocation of those amounts, to eligible state universities to |
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carry out the purposes of the fund. The money shall be allocated |
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based on an equitable formula established by the legislature or an |
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agency designated by the legislature. The legislature shall review |
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and as appropriate adjust, or provide for a review and adjustment |
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of, the allocation formula at the end of each state fiscal biennium. |
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(f) The portion of the total return on investment assets of |
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the fund that is available for appropriation in a state fiscal |
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biennium under this section is the portion determined by the |
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legislature, or an agency designated by the legislature, as |
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necessary to provide as nearly as practicable a stable and |
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predictable stream of annual distributions to eligible state |
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universities and to maintain over time the purchasing power of fund |
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investment assets. If the purchasing power of fund investment |
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assets for any rolling 10-year period is not preserved, the |
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distributions may not be increased until the purchasing power of |
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the fund investment assets is restored. The amount appropriated |
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from the fund in any fiscal year may not exceed an amount equal to |
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seven percent of the average net fair market value of the investment |
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assets of the fund, as determined by law. Until the fund has been |
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invested for a period of time sufficient to determine the |
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purchasing power over a 10-year period, the legislature may provide |
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by law for means of preserving the purchasing power of the fund. |
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(g) The legislature shall establish criteria by which a |
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state university may become eligible to receive a portion of the |
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distributions from the fund. |
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(h) An eligible state university may use distributions from |
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the fund only for the support and maintenance of educational and |
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general activities that address the health care workforce needs of |
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the state. The legislature by general law may provide that a state |
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university that receives a distribution from the fund in a state |
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fiscal biennium may use the funds in a subsequent state fiscal |
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biennium without further appropriation. |
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(i) For purposes of Section 22, Article VIII, of this |
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constitution: |
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(1) money in the fund is dedicated by this |
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constitution; and |
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(2) an appropriation of state tax revenues for the |
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purpose of depositing money to the credit of the fund is treated as |
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if it were an appropriation of revenues dedicated by this |
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constitution. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2025. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment establishing the Texas |
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Health Care Workforce Education Fund to provide funding to eligible |
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institutions of higher education to address Texas' health care |
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workforce needs and drive the state economy." |