Bill Text: TX SB1366 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to directing certain surplus state revenue to the flood infrastructure fund.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-16 - Referred to Finance [SB1366 Detail]
Download: Texas-2023-SB1366-Introduced.html
88R6202 KBB-D | ||
By: Creighton | S.B. No. 1366 |
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relating to directing certain surplus state revenue to the flood | ||
infrastructure fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter G, Chapter 403, Government Code, is | ||
amended by adding Section 403.108 to read as follows: | ||
Sec. 403.108. REDIRECTION OF SURPLUS ECONOMIC | ||
STABILIZATION FUND REVENUE TO FLOOD INFRASTRUCTURE FUND. (a) Each | ||
time the comptroller reduces an amount to be transferred to the | ||
economic stabilization fund as provided by Section 49-g(b) or (c), | ||
Article III, Texas Constitution, the comptroller shall transfer to | ||
the credit of the flood infrastructure fund an amount of general | ||
revenue equal to the amount by which the comptroller reduced the | ||
amount of the transfer to the economic stabilization fund. | ||
(b) Each time the comptroller credits an amount to general | ||
revenue under Section 49-g(i), Article III, Texas Constitution, the | ||
comptroller shall transfer an equal amount of general revenue to | ||
the credit of the flood infrastructure fund. | ||
SECTION 2. This Act takes effect September 1, 2023. |