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

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

---

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-Comm_Sub.html

---

By: Nichols S.B. No. 962
(In the Senate - Filed February 21, 2019; March 1, 2019,
read first time and referred to Committee on Finance;
April 8, 2019, reported adversely, with favorable Committee
Substitute by the following vote: Yeas 14, Nays 0; April 8, 2019,
sent to printer.)
Click here to see the committee vote
COMMITTEE SUBSTITUTE FOR S.B. No. 962 By: Nichols

A BILL TO BE ENTITLED
AN ACT
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 [2024].
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 [2025], so that the total of those amounts is
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 [2024].
SECTION 3. This Act takes effect September 1, 2019.
* * * * *