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SENATE JOINT RESOLUTION
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proposing a constitutional amendment dedicating some of the |
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interest in the permanent school fund to universal pre-kindergarten |
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and the school safety allotment. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VII, Section 5(a), of the Texas |
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Constitution is amended to read as follows: |
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Sec. 5. Sec. 5. PERMANENT SCHOOL FUND AND AVAILABLE SCHOOL |
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FUND: COMPOSITION, MANAGEMENT, USE, AND DISTRIBUTION. (a) The |
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permanent school fund consists of all land appropriated for public |
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schools by this constitution or the other laws of this state, other |
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properties belonging to the permanent school fund, and all revenue |
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derived from the land or other properties. The available school |
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fund consists of the distributions made to it from the total return |
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on all investment assets of the permanent school fund, the taxes |
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authorized by this constitution or general law to be part of the |
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available school fund, and appropriations made to the available |
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school fund by the legislature. The total amount distributed from |
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the permanent school fund to the available school fund: |
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(1) in each year of a state fiscal biennium must be an |
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amount that is not more than six percent of the average of the |
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market value of the permanent school fund, excluding real property |
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belonging to the fund that is managed, sold, or acquired under |
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Section 4 of this article, but including discretionary real assets |
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investments and cash in the state treasury derived from property |
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belonging to the fund, on the last day of each of the 16 state fiscal |
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quarters preceding the regular session of the legislature that |
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begins before that state fiscal biennium, in accordance with the |
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rate adopted by: |
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(A) a vote of two-thirds of the total membership |
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of the State Board of Education, taken before the regular session of |
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the legislature convenes; or |
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(B) the legislature by general law or |
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appropriation, if the State Board of Education does not adopt a rate |
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as provided by Paragraph (A) of this subdivision; and |
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(2) over the 10-year period consisting of the current |
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state fiscal year and the nine preceding state fiscal years may not |
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exceed the total return on all investment assets of the permanent |
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school fund over the same 10-year period. |
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(3) Fifty percent of the total amount distributed |
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under this subsection shall be dedicated to funding the school |
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safety allotment as established by general law and universal |
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pre-kindergarten programs in the State of Texas. |
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This proposed constitutional amendment shall be submitted to |
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the voters at an election to be held November 4, 2025. The ballot |
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shall be printed to permit voting for or against the proposition: |
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"The constitutional amendment providing for the use of the |
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permanent school fund to be used for school safety and universal |
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pre-kindergarten program." |