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A JOINT RESOLUTION
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proposing a constitutional amendment dedicating a portion of the |
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revenue derived from state sales and use taxes and insurance |
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premium taxes to the Texas water fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49-d-16, Article III, Texas |
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Constitution, as proposed by S.J.R. 75, 88th Legislature, Regular |
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Session, 2023, is amended by amending Subsections (c) and (e) and |
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adding Subsections (e-1), (e-2), and (e-3) to read as follows: |
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(c) The Texas water fund consists of: |
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(1) money transferred or deposited to the credit of |
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the fund under this constitution or by general law, including money |
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appropriated by the legislature directly to the fund and money from |
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any source transferred or deposited to the credit of the fund |
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authorized by this constitution or by general law; |
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(2) any other revenue that the legislature by statute |
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dedicates for deposit to the credit of the fund; |
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(3) investment earnings and interest earned on amounts |
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credited to the fund; |
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(4) money from gifts, grants, or donations to the |
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fund; and |
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(5) money returned from any authorized transfer. |
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(e) For the period of 10 state fiscal years beginning |
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September 1, 2043, and for each period of 10 state fiscal years that |
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occur after that period has ended, the legislature by general law |
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may allocate for transfer to the funds and accounts administered by |
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the Texas Water Development Board or that board's successor the |
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money deposited to the credit of the Texas water fund under Section |
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7-e, Article VIII, of this constitution. The allocation of money |
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prescribed by a general law enacted under this subsection may not be |
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amended by the legislature during the 10-year period for which the |
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money is allocated. Any money deposited to the credit of the Texas |
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water fund under Section 7-e, Article VIII, of this constitution |
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that is not allocated by a general law enacted under this subsection |
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may be transferred to other funds or accounts by the Texas Water |
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Development Board or that board's successor in accordance with |
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Subsection (b) of this section. |
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(e-1) Of the amount of money initially appropriated to the |
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Texas water fund, the administrator of the fund shall allocate not |
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less than 25 percent to be used only for transfer to the New Water |
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Supply for Texas Fund. |
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(e-2) Of the amount of money deposited to the credit of the |
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Texas water fund under Section 7-e, Article VIII, of this |
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constitution before September 1, 2043, the administrator of the |
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fund shall allocate not less than 80 percent to be used only for |
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transfer to the New Water Supply for Texas Fund. |
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(e-3) This subsection and Subsections (e-1) and (e-2) of |
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this section expire August 31, 2043. |
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SECTION 2. Article VIII, Texas Constitution, is amended by |
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adding Section 7-e to read as follows: |
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Sec. 7-e. (a) Subject to Section 7-d of this article and |
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Subsections (b) and (c) of this section, in each state fiscal |
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year, the comptroller of public accounts shall deposit to the |
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credit of the Texas water fund: |
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(1) the net revenue derived from the imposition of the |
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state sales and use tax on the sale, storage, use, or other |
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consumption in this state of taxable items under Chapter 151, Tax |
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Code, or its successor, that exceeds the first $46.5 billion of that |
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revenue coming into the treasury in that state fiscal year, |
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provided that the total amount deposited to the credit of the Texas |
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water fund under this subsection in a state fiscal year may not |
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exceed $500 million; and |
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(2) the first $500 million of the net revenue derived |
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from the imposition of the insurance premium taxes on the taxable |
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gross premiums, gross premium receipts, and gross revenues from the |
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sale of certificates or contracts subject to those taxes under |
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Subtitle B, Title 3, Insurance Code, or its successor, coming into |
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the treasury in that state fiscal year. |
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(b) The legislature by adoption of a resolution approved by |
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a record vote of two-thirds of the members of each house of the |
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legislature may direct the comptroller of public accounts to reduce |
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the amount of money deposited to the credit of the Texas water fund |
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under Subsection (a) of this section. The comptroller may be |
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directed to make that reduction only: |
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(1) in the state fiscal year in which the resolution is |
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adopted, or in either of the following two state fiscal years; and |
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(2) by an amount or percentage that does not result in |
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a reduction of more than 50 percent of the amount that would |
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otherwise be deposited to the fund in the affected state fiscal year |
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under the applicable subsection of this section. |
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(c) Subject to Subsection (d) of this section, the duty of |
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the comptroller of public accounts to make a deposit under |
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Subsection (a) of this section expires August 31, 2043. |
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(d) The legislature by adoption of a concurrent resolution |
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approved by a record vote of a majority of the members of each house |
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of the legislature may extend, in 10-year increments, the duty of |
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the comptroller of public accounts to make a deposit under |
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Subsection (a) of this section beyond the date prescribed by |
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Subsection (c) of this section. |
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SECTION 3. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 89th Legislature, |
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Regular Session, 2025, dedicating a portion of the revenue derived |
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from state sales and use taxes and the insurance premium taxes to |
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the Texas water fund. |
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(b) Section 7-e, Article VIII, of this constitution takes |
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effect September 1, 2027. |
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(c) This temporary provision expires September 1, 2028. |
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SECTION 4. 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 dedicating a portion of |
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the revenue derived from state sales and use taxes and insurance |
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premium taxes to the Texas water fund." |