Bill Text: TX HJR12 | 2013 | 83rd Legislature 1st Special Session | Introduced
Bill Title: Proposing a constitutional amendment providing for the transfer of general revenue to the state highway fund and the economic stabilization fund and authorizing the payment from the state highway fund of the principal and interest on certain highway improvement bonds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-06-17 - Referred to Appropriations [HJR12 Detail]
Download: Texas-2013-HJR12-Introduced.html
| 83S10080 MTB-D | ||
| By: Harper-Brown | H.J.R. No. 12 | |
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| proposing a constitutional amendment providing for the transfer of | ||
| general revenue to the state highway fund and the economic | ||
| stabilization fund and authorizing the payment from the state | ||
| highway fund of the principal and interest on certain highway | ||
| improvement bonds. | ||
| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Sections 49-g(c), (d), and (e), Article III, | ||
| Texas Constitution, are amended to read as follows: | ||
| (c) Not later than the 90th day of each fiscal year, the | ||
| comptroller of public accounts shall transfer from general revenue | ||
| to the economic stabilization fund and to the state highway fund the | ||
| amounts prescribed by Subsections (d) and (e) of this section. | ||
| However, if necessary, the comptroller shall reduce | ||
| proportionately the amounts transferred to the economic | ||
| stabilization fund to prevent the amount in the fund from exceeding | ||
| the limit in effect for that biennium under Subsection (g) of this | ||
| section. | ||
| (d) If in the preceding year the state received from oil | ||
| production taxes a net amount greater than the net amount of oil | ||
| production taxes received by the state in the fiscal year ending | ||
| August 31, 1987, the comptroller shall retain [ |
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| the difference between those amounts as general revenue. Of the | ||
| remaining 75 percent of the difference between those amounts, the | ||
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| the economic stabilization fund and transfer an amount equal to | ||
| one-half to the state highway fund [ |
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| of oil production taxes received, the comptroller may not consider | ||
| refunds paid as a result of oil overcharge litigation. | ||
| (e) If in the preceding year the state received from gas | ||
| production taxes a net amount greater than the net amount of gas | ||
| production taxes received by the state in the fiscal year ending | ||
| August 31, 1987, the comptroller shall retain [ |
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| the difference between those amounts as general revenue. Of the | ||
| remaining 75 percent of the difference between those amounts, the | ||
| [ |
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| the economic stabilization fund and transfer an amount equal to | ||
| one-half to the state highway fund [ |
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| subsection, the comptroller shall adjust the [ |
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| revenues to reflect only 12 months of collection. | ||
| SECTION 2. Section 49-p, Article III, Texas Constitution, | ||
| is amended by adding Subsection (e) to read as follows: | ||
| (e) Money deposited to the credit of the state highway fund | ||
| may be appropriated to repay the principal and interest on bonds | ||
| issued under this section. | ||
| SECTION 3. The following temporary provision is added to | ||
| the Texas Constitution: | ||
| TEMPORARY PROVISION. (a) This temporary provision applies to | ||
| the constitutional amendment proposed by the 83rd Legislature, 1st | ||
| Called Session, 2013, providing for the transfer of general revenue | ||
| to the state highway fund and the economic stabilization fund and | ||
| authorizing the payment from the state highway fund of the | ||
| principal and interest on certain highway improvement bonds. | ||
| (b) The amendment to Section 49-g, Article III, of this | ||
| constitution takes effect January 1, 2014, and applies only to a | ||
| transfer of revenue made by the comptroller of public accounts as | ||
| provided by Subsection (d) or (e) of that section on or after | ||
| January 1, 2014. | ||
| (c) This temporary provision expires January 1, 2015. | ||
| SECTION 4. This proposed constitutional amendment shall be | ||
| submitted to the voters at an election to be held November 5, 2013. | ||
| The ballot shall be printed to permit voting for or against the | ||
| proposition: "The constitutional amendment providing for the | ||
| transfer of general revenue to the state highway fund and the | ||
| economic stabilization fund and authorizing the payment from the | ||
| state highway fund of the principal and interest on certain highway | ||
| improvement bonds." | ||
