Bill Text: TX HJR114 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Proposing a constitutional amendment to divert any net income attributable to newly discovered oil and gas or other mineral interests on permanent university fund land from the permanent university fund to fund capital projects at certain public universities and agencies of higher education that are currently ineligible for distributions from the permanent university fund.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-03-20 - Referred to Higher Education [HJR114 Detail]
Download: Texas-2017-HJR114-Introduced.html
By: Burrows | H.J.R. No. 114 |
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proposing a constitutional amendment to divert any net income | ||
attributable to newly discovered oil and gas or other mineral | ||
interests on permanent university fund land from the permanent | ||
university fund to fund capital projects at certain public | ||
univer | ||
sities and agencies of higher education that are currently | ||
ineligible for distributions from the permanent university fund. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Article VII, Texas Constitution, is amended by | ||
adding Section 15-a to read as follows: | ||
Sec. 15-a. Notwithstanding any other provision of this | ||
constitution, any net income, including royalties, attributable to | ||
oil and gas or other mineral interests discovered on or after | ||
January 1, 2015, on permanent university fund land shall be | ||
deposited to the credit of the state treasury and may be used only | ||
for distribution to eligible public universities and agencies of | ||
higher education under Section 17(a) in accordance with that | ||
section. | ||
SECTION 2. Section 17(a), Article VII, Texas Constitution, | ||
is amended to read as follows: | ||
(a) In the fiscal year beginning September 1, 1985, and each | ||
fiscal year thereafter, there is hereby appropriated out of funds | ||
deposited to the state treasury under Section 15-a, and out of the | ||
first money coming into the state treasury not otherwise | ||
appropriated by the constitution, a total of $100 million to be used | ||
by eligible agencies and institutions of higher education for the | ||
purpose of acquiring land either with or without permanent | ||
improvements, constructing and equipping buildings or other | ||
permanent improvements, major repair or rehabilitation of | ||
buildings or other permanent improvements, acquisition of capital | ||
equipment, library books and library materials, and paying for | ||
acquiring, constructing, or equipping or for major repair or | ||
rehabilitation of buildings, facilities, other permanent | ||
improvements, or capital equipment used jointly for educational and | ||
general activities and for auxiliary enterprises to the extent of | ||
their use for educational and general activities. For the | ||
five-year period that begins on September 1, 2000, and for each | ||
five-year period that begins after that period, the legislature, | ||
during a regular session that is nearest, but preceding, a | ||
five-year period, may by two-thirds vote of the membership of each | ||
house increase the amount of the constitutional appropriation for | ||
the five-year period but may not adjust the appropriation in such a | ||
way as to impair any obligation created by the issuance of bonds or | ||
notes in accordance with this section. | ||
SECTION 3. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 7, 2017. | ||
The ballot shall be printed to permit voting for or against the | ||
proposition: "The constitutional amendment to divert any net | ||
income attributable to newly discovered oil and gas or other | ||
mineral interests on permanent university fund land from the | ||
permanent university fund to fund capital projects at certain | ||
public universities and agencies of higher education that are | ||
currently ineligible for distributions from the permanent | ||
university fund." |