Bill Text: TX HJR138 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Proposing a constitutional amendment relating to the use of bonds and notes in the military value revolving loan account.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2015-04-22 - Left pending in subcommittee [HJR138 Detail]
Download: Texas-2015-HJR138-Introduced.html
By: King of Taylor | H.J.R. No. 138 |
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proposing a constitutional amendment relating to the use of bonds | ||
and notes in the military value revolving loan account. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 49-n(a), Article III, Texas | ||
Constitution, as proposed by S.J.R. 55, 78th Legislature, Regular | ||
Session, 2003, is amended to read as follows: | ||
(a) The legislature by general law may authorize one or more | ||
state agencies to issue general obligation bonds or notes of the | ||
State of Texas in an aggregate amount not to exceed $250 million and | ||
enter into related credit agreements. The proceeds from the sale of | ||
the bonds and notes shall be deposited in the Texas military value | ||
revolving loan and grant account in the state treasury or its | ||
successor account to be used by one or more state agencies | ||
designated by the legislature by general law without further | ||
appropriation to provide loans and grants for economic development | ||
projects that benefit defense-related communities, as defined by | ||
the legislature by general law, including projects that enhance the | ||
military value of military installations located in the state. The | ||
legislature also may | ||
provide by general law or appropriation for | ||
repayment of any debt incurred by bonds or notes issued under the | ||
authority of this subsection after December 31, 2015. | ||
SECTION 2. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 3, 2015. | ||
The ballot shall be printed to permit voting for or against the | ||
proposition: "The constitutional amendment allowing the | ||
legislature to use bonds for grants to defense-related communities | ||
for any related purpose that adds military value to the military | ||
installations within Texas." |