Bill Text: TX HJR8 | 2015-2016 | 84th Legislature | Comm Sub
Bill Title: Proposing a constitutional amendment to dedicate certain money to the purpose of retiring state debt early.
Spectrum: Partisan Bill (Republican 21-1)
Status: (Engrossed - Dead) 2015-05-22 - Committee report printed and distributed [HJR8 Detail]
Download: Texas-2015-HJR8-Comm_Sub.html
By: Otto, et al. (Senate Sponsor - Nelson) | H.J.R. No. 8 | |
(In the Senate - Received from the House April 8, 2015; | ||
April 23, 2015, read first time and referred to Committee on | ||
Finance; May 22, 2015, reported favorably by the following vote: | ||
Yeas 13, Nays 0; May 22, 2015, sent to printer.) | ||
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proposing a constitutional amendment to dedicate certain money to | ||
the purpose of retiring state debt early. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 49-g, Article III, Texas Constitution, | ||
is amended by adding Subsections (p) and (q) to read as follows: | ||
(p) When the comptroller acts to prevent the amount in the | ||
economic stabilization fund from exceeding the limit in effect for | ||
a biennium under Subsection (g) of this section by reducing an | ||
amount transferred to the fund from general revenue as provided by | ||
Subsection (b) or (c) of this section or by crediting to general | ||
revenue interest due to the economic stabilization fund as provided | ||
by Subsection (i) of this section, the comptroller shall credit to | ||
an account in the general revenue fund of the state treasury: | ||
(1) if the comptroller reduces the amount transferred | ||
under Subsection (b) of this section, an amount of general revenue | ||
equal to the difference between the amount transferred to the | ||
economic stabilization fund under Subsection (b) of this section | ||
and the amount that would have been transferred under that | ||
subsection but for the limit in effect under Subsection (g) of this | ||
section; | ||
(2) if the comptroller reduces the amount transferred | ||
under Subsection (c) of this section, an amount of general revenue | ||
equal to the difference between the amount transferred to the | ||
economic stabilization fund under Subsection (c) of this section | ||
and the amount that would have been transferred under that | ||
subsection but for the limit in effect under Subsection (g) of this | ||
section; and | ||
(3) if the comptroller reduces the amount credited to | ||
the economic stabilization fund under Subsection (i) of this | ||
section, an amount of general revenue equal to the amount credited | ||
to general revenue under that subsection. | ||
(q) General revenue credited to the account in the general | ||
revenue fund of the state treasury under Subsection (p) of this | ||
section may be appropriated only for the purpose of retiring state | ||
debt early. | ||
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 provide for voting for or against the | ||
proposition: "The constitutional amendment to dedicate certain | ||
money to the purpose of retiring state debt early." | ||
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