Bill Text: TX HB1392 | 2023-2024 | 88th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the state highway fund, and the Grow Texas fund and to the permissible uses of money deposited to the Grow Texas fund.

Spectrum: Slight Partisan Bill (Republican 6-2)

Status: (Engrossed - Dead) 2023-05-04 - Referred to Finance [HB1392 Detail]

Download: Texas-2023-HB1392-Introduced.html
  88R3715 KBB-D
 
  By: Craddick H.B. No. 1392
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the allocation of certain constitutional transfers of
  money to the economic stabilization fund, the state highway fund,
  and the Grow Texas fund and to the permissible uses of money
  deposited to the Grow Texas fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The heading to Subchapter H, Chapter 316,
  Government Code, is amended to read as follows:
  SUBCHAPTER H. ALLOCATION OF CONSTITUTIONAL TRANSFERS TO CERTAIN
  FUNDS [ECONOMIC STABILIZATION FUND AND STATE HIGHWAY FUND]
         SECTION 2.  The heading to Section 316.092, Government Code,
  is amended to read as follows:
         Sec. 316.092.  DETERMINATION OF THRESHOLD FOR
  CONSTITUTIONAL TRANSFER TO CERTAIN FUNDS [STATE HIGHWAY FUND].
         SECTION 3.  The heading to Section 316.093, Government Code,
  is amended to read as follows:
         Sec. 316.093.  ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO
  CERTAIN FUNDS [FUND AND STATE HIGHWAY FUND].
         SECTION 4.  Section 316.093, Government Code, is amended by
  amending Subsections (a), (b), and (d) and adding Subsection (e) to
  read as follows:
         (a)  Before the comptroller makes transfers for a state
  fiscal year in accordance with Section 49-g(c), Article III, Texas
  Constitution, the comptroller shall determine whether the sum of
  the balance of the fund on the preceding August 31, any projected
  transfer to the fund under Section 49-g(b) of that article, [and]
  any projected transfer to the fund under Section 49-g(c) of that
  article in accordance with the allocations for the transfer as
  provided by Section 49-g(c-1) of that article, and any increase in
  the projected amount of the allocation to the fund under Section
  49-g(c-2) of that article as provided by Subsection (c) of this
  section is less than the amount determined under Section 316.092
  for that state fiscal biennium.
         (b)  If the sum described by Subsection (a) is less than the
  amount determined under Section 316.092 for that state fiscal
  biennium, the comptroller shall reduce proportionately the amount
  allocated [allocation] to the state highway fund provided by
  Section 49-g(c-1) [49-g(c)], Article III, Texas Constitution, and
  the amount by which the transfer to the economic stabilization fund
  under that subsection is reduced and a corresponding amount is
  transferred to the Grow Texas fund as provided by Section 49-g(c-3)
  of that article, and increase the allocation to the economic
  stabilization fund[,] in an [equal] amount equal to the reduction
  of those amounts[,] until the amount determined under Section
  316.092 for that state fiscal biennium would be achieved by the
  transfer to the fund or the total amount of the sum described by
  Section 49-g(c), Article III, Texas Constitution, is allocated to
  the fund, whichever occurs first. This subsection expires December
  31, 2034.
         (d)  The adjustment required of the comptroller under
  Subsection (c) does not increase the amount by which the allocation
  to the economic stabilization fund is reduced and a corresponding
  amount is transferred to the Grow Texas fund under Section
  49-g(c-3), Article III, Texas Constitution. [Subsections (a) and
  (b) and this subsection expire December 31, 2034.]
         (e)  If the sum described by Subsection (a) is less than the
  amount determined under Section 316.092 for a state fiscal biennium
  beginning on or after September 1, 2035, the comptroller shall
  reduce the amount by which the transfer to the economic
  stabilization fund under Section 49-g(c), Article III, Texas
  Constitution, is reduced and a corresponding amount is transferred
  to the Grow Texas fund as provided by Section 49-g(c-3) of that
  article and increase the allocation to the economic stabilization
  fund in an amount equal to the reduction of those amounts until the
  amount determined under Section 316.092 for that state fiscal
  biennium would be achieved by the transfer to the fund or the total
  amount of the sum described by Section 49-g(c), Article III, Texas
  Constitution, is allocated to the fund, whichever occurs first.
         SECTION 5.  Subchapter G, Chapter 403, Government Code, is
  amended by adding Section 403.108 to read as follows:
         Sec. 403.108.  GROW TEXAS GRANT PROGRAM. (a)  In this
  section:
               (1)  "Commission" means the Grow Texas fund commission
  created under Section 49-g-1(e), Article III, Texas Constitution.
               (2)  "Fund" means the Grow Texas fund established under
  Section 49-g-1(a), Article III, Texas Constitution.
         (b)  The legislature may appropriate money in the fund to the
  comptroller for the purpose of funding grants to applicants
  selected by the commission under the program established under
  Subsection (c).
         (c)  The comptroller and the commission shall jointly
  establish a program under which the commission may select
  applicants to receive grants provided by the comptroller to
  construct or maintain roads, schools, health care facilities, and
  other infrastructure in the areas of this state the commission
  determines to be significantly affected by oil and gas production.
         (d)  The commission shall establish:
               (1)  eligibility criteria for grant applicants;
               (2)  guidelines relating to grant amounts; and
               (3)  procedures for evaluating and approving or denying
  grant applications.
         (e)  The comptroller shall:
               (1)  establish the procedure for applying for a grant;
               (2)  adopt a form that must be used by an applicant to
  apply for a grant; and
               (3)  establish procedures for monitoring the use of a
  grant provided under the program and ensuring compliance with any
  conditions of a grant.
         (f)  The comptroller shall adopt rules to implement and
  administer this section.
         SECTION 6.  Section 316.092(b), Government Code, is
  repealed.
         SECTION 7.  This Act takes effect September 1, 2025, but only
  if the constitutional amendment proposed by the 88th Legislature,
  Regular Session, 2023, providing for the creation of and use of
  money in the Grow Texas fund and allocating certain general
  revenues to that fund, the economic stabilization fund, and the
  state highway fund is approved by the voters. If that amendment is
  not approved by the voters, this Act has no effect.
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