Bill Text: TX SJR26 | 2017-2018 | 85th Legislature | Introduced

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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.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2017-01-30 - Referred to Finance [SJR26 Detail]

Download: Texas-2017-SJR26-Introduced.html

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85R1367 KLA-D
By: Perry S.J.R. No. 26

A JOINT RESOLUTION
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 [, no] appropriation in excess of the cash and
anticipated revenue of the funds from which the [such]
appropriation is to be made is not [shall be] valid; and
(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 [No] bill containing an appropriation is not [shall
be] considered as passed and may not [or] be sent to the Governor
for consideration until and unless the Comptroller of Public
Accounts endorses the Comptroller's [his] certificate on the bill
[thereon] showing that, subject to the exception provided by
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 [an
appropriation bill exceeds the estimated revenue he] shall endorse
the [such] finding on the bill [thereon] and return the bill to the
House in which the bill [same] originated. The finding immediately
[Such information] shall be [immediately] made known to both the
House of Representatives and the Senate and the necessary steps, as
applicable, shall be taken to bring the [such] appropriation to
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
[at any time and for any purpose].
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."