Bill Text: TX HJR9 | 2013 | 83rd Legislature 1st Special Session | Introduced


Bill Title: Proposing a constitutional amendment to provide for the transfer of certain general revenue to the state highway fund and the economic stabilization fund and to authorize the payment from the state highway fund of the principal and interest on certain highway improvement bonds.

Spectrum: Moderate Partisan Bill (Republican 4-1)

Status: (Introduced - Dead) 2013-06-20 - Companion considered in lieu of in committee [HJR9 Detail]

Download: Texas-2013-HJR9-Introduced.html
  83S10120 JJT-D
 
  By: Phillips H.J.R. No. 9
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to provide for the transfer of
  certain general revenue to the state highway fund and the economic
  stabilization fund and to authorize the payment from the state
  highway fund of the principal and interest on certain highway
  improvement bonds.
  BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 49-g(c), (d), and (e), Article III,
  Texas Constitution, are amended to read as follows:
         (c)  Not later than the 90th day of each fiscal year, the
  comptroller of public accounts shall transfer from general revenue
  to the economic stabilization fund and to the state highway fund the
  amounts prescribed by Subsections (d) and (e) of this section.
  However, if necessary, the comptroller shall reduce
  proportionately the amounts transferred to the economic
  stabilization fund to prevent the amount in the fund from exceeding
  the limit in effect for that biennium under Subsection (g) of this
  section.
         (d)  If in the preceding year the state received from oil
  production taxes a net amount greater than the net amount of oil
  production taxes received by the state in the fiscal year ending
  August 31, 1987, the comptroller shall retain [transfer to the
  economic stabilization fund] an amount equal to 25 [75] percent of
  the difference between those amounts as general revenue. Of the
  remaining 75 percent of the difference between those amounts, the
  [. The] comptroller shall transfer an amount equal to one-half to
  the economic stabilization fund and transfer an amount equal to
  one-half to the state highway fund [retain the remaining 25 percent
  of the difference as general revenue]. In computing the net amount
  of oil production taxes received, the comptroller may not consider
  refunds paid as a result of oil overcharge litigation.
         (e)  If in the preceding year the state received from gas
  production taxes a net amount greater than the net amount of gas
  production taxes received by the state in the fiscal year ending
  August 31, 1987, the comptroller shall retain [transfer to the
  economic stabilization fund] an amount equal to 25 [75] percent of
  the difference between those amounts as general revenue. Of the
  remaining 75 percent of the difference between those amounts, the
  [. The] comptroller shall transfer an amount equal to one-half to
  the economic stabilization fund and transfer an amount equal to
  one-half to the state highway fund [retain the remaining 25 percent
  of the difference as general revenue]. For the purposes of this
  subsection, the comptroller shall adjust the [his] computation of
  revenues to reflect only 12 months of collection.
         SECTION 2.  Section 49-p, Article III, Texas Constitution,
  is amended by adding Subsection (e) to read as follows:
         (e)  Money deposited to the credit of the state highway fund
  may be appropriated to repay the principal and interest on bonds
  issued under this section.
         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 83rd Legislature, 1st
  Called Session, 2013, to provide for the transfer of certain
  general revenue to the state highway fund and the economic
  stabilization fund and to authorize the payment from the state
  highway fund of the principal and interest on certain highway
  improvement bonds.
         (b)  The amendment to Section 49-g, Article III, of this
  constitution takes effect January 1, 2014, and applies only to a
  transfer of revenue made by the comptroller of public accounts as
  provided by Subsection (d) or (e) of that section on or after
  January 1, 2014.
         (c)  This temporary provision expires January 1, 2015.
         SECTION 4.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 5, 2013.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment to provide for the
  transfer of certain general revenue to the state highway fund and
  the economic stabilization fund and to authorize the payment from
  the state highway fund of the principal and interest on certain
  highway improvement bonds."
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