Bill Text: TX SB962 | 2019-2020 | 86th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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86R9697 BRG-D
By: Nichols S.B. No. 962

A BILL TO BE ENTITLED
AN ACT
relating to the determination of the sufficient balance of the
economic stabilization fund for purposes 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. Sections 316.092(a), (b), and (c), Government
Code, are amended to read as follows:
(a) Not later than September 1 of each even-numbered year
[preceding the year in which this section expires as provided by
Subsection (e)], the speaker of the house of representatives and
the lieutenant governor shall appoint a select committee as
follows:
(1) the speaker of the house of representatives shall
appoint five members of the house of representatives as members of
the committee; and
(2) the lieutenant governor shall appoint five members
of the senate as members of the committee.
(b) For the purposes of Section 49-g(c-2), Article III,
Texas Constitution, not later than December 1 of each even-numbered
year [preceding the year in which this section expires as provided
by Subsection (e)], the select committee shall determine and adopt
for the next state fiscal biennium a sufficient balance of the fund
in an amount that the committee estimates will ensure an
appropriate amount of revenue available in the fund. In
determining the sufficient balance for that fiscal biennium, the
committee shall consider:
(1) the history of fund balances;
(2) the history of transfers to the fund;
(3) estimated fund balances during that fiscal
biennium;
(4) estimated transfers to the fund to occur during
that fiscal biennium;
(5) information available to the committee regarding
state highway congestion and funding demands; and
(6) any other information requested by the committee
regarding the state's financial condition.
(c) On or before October 1 of each even-numbered year
[preceding the year in which this section expires as provided by
Subsection (e)], the comptroller shall provide to the select
committee the comptroller's projection of the amounts to be
transferred to the fund during the next state fiscal biennium.
SECTION 2. The following provisions of the Government Code
are repealed:
(1) Section 316.092(e);
(2) Sections 316.093(e) and (f); and
(3) Section 404.0241(d).
SECTION 3. This Act takes effect September 1, 2019.