Bill Text: TX SB1232 | 2023-2024 | 88th Legislature | Comm Sub
Bill Title: Relating to the determination of the sufficient balance of the economic stabilization fund for the purpose of allocating general revenue to that fund and the state highway fund.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2023-05-23 - Placed on General State Calendar [SB1232 Detail]
Download: Texas-2023-SB1232-Comm_Sub.html
By: Nichols | S.B. No. 1232 | |
(Canales) | ||
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relating to the determination of the sufficient balance of the | ||
economic stabilization fund for the purpose of allocating general | ||
revenue to that fund and the state highway fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 316.092(b), Government Code, is amended | ||
to read as follows: | ||
(b) This section expires December 31, 2042 [ |
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SECTION 2. Sections 316.093(c) and (d), Government Code, | ||
are amended to read as follows: | ||
(c) For the purposes of Section 49-g(c-2), Article III, | ||
Texas Constitution, the comptroller shall adjust the allocation | ||
provided by Section 49-g(c-1) of that article of amounts to be | ||
transferred to the fund and to the state highway fund under Section | ||
49-g(c) of that article in a state fiscal year beginning on or after | ||
September 1, 2043 [ |
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transferred to the economic stabilization fund, except that the | ||
comptroller shall reduce a transfer made under this subsection as | ||
necessary to prevent the amount in the fund from exceeding the limit | ||
in effect for that biennium under Section 49-g(g) of that article. | ||
(d) Subsections (a) and (b) and this subsection expire | ||
December 31, 2042 [ |
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SECTION 3. This Act takes effect September 1, 2023. |