Bill Text: TX SB962 | 2019-2020 | 86th Legislature | Enrolled
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: Partisan Bill (Republican 2-0)
Status: (Passed) 2019-06-15 - Effective on 9/1/19 [SB962 Detail]
Download: Texas-2019-SB962-Enrolled.html
| S.B. No. 962 | ||
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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(e), Government Code, is amended | ||
| to read as follows: | ||
| (e) This section expires December 31, 2034 [ |
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| SECTION 2. Sections 316.093(e) and (f), Government Code, | ||
| are amended to read as follows: | ||
| (e) 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, 2035 [ |
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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. | ||
| (f) Subsections (a), (b), and (c) and this subsection expire | ||
| December 31, 2034 [ |
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| SECTION 3. This Act takes effect September 1, 2019. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I hereby certify that S.B. No. 962 passed the Senate on April | ||
| 11, 2019, by the following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| I hereby certify that S.B. No. 962 passed the House on | ||
| May 17, 2019, by the following vote: Yeas 140, Nays 1, two | ||
| present not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| Approved: | ||
| ______________________________ | ||
| Date | ||
| ______________________________ | ||
| Governor | ||
