Bill Text: TX SJR26 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Proposing a constitutional amendment limiting appropriations from the economic stabilization fund to prevent the fund balance from falling below a prescribed minimum amount, other than in an emergency if certain requirements are met, and limiting the permissible uses of that appropriated money.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-01-30 - Referred to Finance [SJR26 Detail]
Download: Texas-2017-SJR26-Introduced.html
85R1367 KLA-D | ||
By: Perry | S.J.R. No. 26 |
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proposing a constitutional amendment limiting appropriations from | ||
the economic stabilization fund to prevent the fund balance from | ||
falling below a prescribed minimum amount, other than in an | ||
emergency if certain requirements are met, and limiting the | ||
permissible uses of that appropriated money. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 49a, Article III, Texas Constitution, is | ||
amended by amending Subsection (b) and adding Subsections (c), (d), | ||
and (e) to read as follows: | ||
(b) Except in the case of emergency and imperative public | ||
necessity and with a four-fifths vote of the total membership of | ||
each House: | ||
(1) an [ |
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anticipated revenue of the funds from which the [ |
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appropriation is to be made is not [ |
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(2) an appropriation from the economic stabilization | ||
fund is not valid unless the Comptroller of Public Accounts | ||
determines the appropriation will not exceed the limitation on | ||
appropriations from that fund prescribed by Section 49-g(g-1) of | ||
this article. | ||
(c) A [ |
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for consideration until and unless the Comptroller of Public | ||
Accounts endorses the Comptroller's [ |
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Subsection (b) of this section: | ||
(1) the amount appropriated is within the amount | ||
estimated to be available in the affected funds; and | ||
(2) if the bill appropriates an amount from the | ||
economic stabilization fund, the appropriated amount, when added to | ||
other amounts appropriated from the economic stabilization fund in | ||
bills certified under this subdivision, will not exceed the | ||
limitation on appropriations from that fund prescribed by Section | ||
49-g(g-1) of this article. | ||
(d) In determining whether to certify a bill under | ||
Subsection (c)(2) of this section, the Comptroller of Public | ||
Accounts: | ||
(1) shall consider the Comptroller's estimate of the | ||
unappropriated balance of the economic stabilization fund as of the | ||
first day of the period for which the appropriation is authorized, | ||
the estimated amount and timing of anticipated interest to be | ||
credited to the economic stabilization fund during the period for | ||
which the appropriation is authorized, and the estimated amounts | ||
and timing of anticipated transfers to the economic stabilization | ||
fund during that period that are required by Sections 49-g(b), (c), | ||
(d), and (e) of this article; and | ||
(2) may not consider actual or anticipated transfers | ||
of money to or from the economic stabilization fund authorized by | ||
Section 49-g(j) of this article. | ||
(e) When the Comptroller of Public Accounts finds that the | ||
Comptroller cannot make the certification required by Subsection | ||
(c)(1) or (2) of this section and the exception provided by | ||
Subsection (b) of this section does not apply, the Comptroller [ |
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the [ |
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House in which the bill [ |
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[ |
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House of Representatives and the Senate and the necessary steps, as | ||
applicable, shall be taken to bring the [ |
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within: | ||
(1) the estimated revenue, either by providing | ||
additional revenue or reducing the appropriation; or | ||
(2) an amount that, when added to other amounts | ||
appropriated from the economic stabilization fund in bills | ||
certified under Subsection (c)(2) of this section, will not exceed | ||
the limitation on appropriations from that fund prescribed by | ||
Section 49-g(g-1) of this article. | ||
SECTION 2. Section 49-g, Article III, Texas Constitution, | ||
is amended by adding Subsections (g-1), (g-2), and (g-3) and | ||
amending Subsection (m) to read as follows: | ||
(g-1) Except as provided by Subsection (g-2) of this | ||
section, the total amount of appropriations of money from the | ||
economic stabilization fund for all or any part of a state fiscal | ||
biennium may not exceed the estimated maximum amount the | ||
comptroller determines may be appropriated so that the | ||
unappropriated balance of the economic stabilization fund at all | ||
times during the biennium is an amount equal to at least five | ||
percent of the amount of the biennial state taxes and fees general | ||
revenue estimate provided in advance of the regular legislative | ||
session preceding that biennium. For purposes of this subsection, | ||
"biennial state taxes and fees general revenue estimate" means the | ||
amount of revenue stated in the comptroller's estimate provided in | ||
advance of the regular legislative session as required by Section | ||
49a(a) of this article that, based on the laws in effect at the time | ||
the estimate is made, is anticipated to be received by and for the | ||
state from collections of taxes and fees the revenue from which is | ||
anticipated to be deposited to the credit of the general revenue | ||
fund and is not set aside by law for a particular purpose or entity. | ||
The term does not include probable changes to that anticipated | ||
revenue as shown in supplemental statements submitted in accordance | ||
with Section 49a(a) of this article. | ||
(g-2) The limitation on appropriations prescribed by | ||
Subsection (g-1) of this section does not apply in a case of | ||
emergency and imperative public necessity and with a four-fifths | ||
vote of the total membership of each house of the legislature. | ||
(g-3) The authority to make an appropriation from the | ||
economic stabilization fund under Subsection (k), (l), or (m) of | ||
this section is subject to the endorsement of the comptroller's | ||
certificate under Section 49a(c)(2) of this article. | ||
(m) In addition to the appropriation authority provided by | ||
Subsections (k) and (l) of this section, the legislature may, by a | ||
two-thirds vote of the members present in each house, appropriate | ||
amounts from the economic stabilization fund to: | ||
(1) retire state debt; | ||
(2) pay costs associated with a state of disaster | ||
declared by the governor; or | ||
(3) pay nonrecurring costs of infrastructure projects | ||
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SECTION 3. The following temporary provision is added to | ||
the Texas Constitution: | ||
TEMPORARY PROVISION. (a) This temporary provision applies | ||
to the constitutional amendment proposed by the 85th Legislature, | ||
Regular Session, 2017, limiting appropriations from the economic | ||
stabilization fund to a total amount that the comptroller of public | ||
accounts estimates will not result at any time in a fund balance of | ||
less than a prescribed minimum amount, other than in an emergency if | ||
certain requirements are met, and limiting the permissible uses of | ||
that appropriated money. | ||
(b) The amendments made to Sections 49a and 49-g, Article | ||
III, of this constitution take effect January 1, 2019, and apply | ||
only to an appropriation made for all or part of a state fiscal year | ||
beginning on or after September 1, 2019. | ||
(c) This temporary provision expires January 1, 2020. | ||
SECTION 4. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 7, 2017. | ||
The ballot shall be printed to provide for voting for or against the | ||
proposition: "The constitutional amendment limiting | ||
appropriations from the economic stabilization fund ("rainy day | ||
fund") to a total amount that the comptroller of public accounts | ||
estimates will not result at any time in a fund balance of less than | ||
a prescribed minimum amount, other than in an emergency if certain | ||
requirements are met, and limiting the permissible uses of that | ||
appropriated money." |