Bill Text: TX SJR23 | 2015-2016 | 84th Legislature | Introduced

Texas Senate Joint Resolution 23 (Prior Session Legislation)

Introduced

Bill Title: Proposing a constitutional amendment concerning the use of unencumbered surplus state revenues to provide for a rebate of state franchise taxes.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2015-03-04 - Left pending in committee [SJR23 Detail]

Download: Texas-2015-SJR23-Introduced.html

	84R2528 CJC-D

	By: Creighton	S.J.R. No. 23



	A JOINT RESOLUTION
	proposing a constitutional amendment concerning the use of
	unencumbered surplus state revenues to provide for a rebate of
	state franchise taxes.
	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Article III, Texas Constitution, is amended by
	adding Section 49-g-1 to read as follows:
	Sec. 49-g-1. (a) Not later than the 90th day of each state
	fiscal biennium, the comptroller shall ascertain the amount of the
	unencumbered positive balance of general revenues on the last day
	of the preceding state fiscal biennium that remains after the
	transfer of revenues to the economic stabilization fund under
	Subsection (b), Section 49-g, Article III, of this constitution.
	(b) The legislature by general law shall provide a procedure
	by which the comptroller shall issue to payers of this state's
	franchise tax a rebate of franchise taxes paid during the preceding
	state fiscal biennium so that:
	(1) the total amount of rebates issued equals the
	lesser of one-half of the amount of the remaining unencumbered
	positive balance of general revenues ascertained under Subsection
	(a) of this section or the total amount of state franchise taxes
	collected during that preceding state fiscal biennium; and
	(2) each payer of the franchise tax during that
	preceding state fiscal biennium receives a share of the total
	amount of rebates issued that is directly proportionate to the
	share that the amount of that taxpayer's franchise taxes paid
	during that preceding state fiscal biennium bears to the total
	amount of franchise taxes collected during that preceding state
	fiscal biennium.
	SECTION 2. The following temporary provision is added to
	the Texas Constitution:
	TEMPORARY PROVISION. The constitutional amendment proposed
	by the 84th Legislature, Regular Session, 2015, concerning the use
	of unencumbered surplus state revenues to provide for a rebate of
	state franchise taxes applies beginning with the state fiscal
	biennium beginning September 1, 2017. This temporary provision
	expires September 1, 2019.
	SECTION 3. 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 permit voting for or against the
	proposition: "The constitutional amendment concerning the use of
	unencumbered surplus state revenues to provide for a rebate of
	state franchise taxes."