HJR126 - Proposing a constitutional amendment dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to the Texas water fund.

  89R9587 KJE-D     By: Howard H.J.R. No. 126       A JOINT RESOLUTION   proposing a constitutional amendment dedicating certain general   revenue that would otherwise be transferred to the economic   stabilization fund to the Texas water fund.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 49-d-16(c), Article III, Texas   Constitution, as proposed by S.J.R. 75, 88th Legislature, Regular   Session, 2023, is amended to read as follows:          (c)  The Texas water fund consists of:                (1)  money transferred or deposited to the credit of   the fund under this constitution or by general law, including money   appropriated by the legislature directly to the fund and money from   any source transferred or deposited to the credit of the fund   authorized by this constitution or by general law;                (2)  any other revenue that the legislature by statute   dedicates for deposit to the credit of the fund;                (3)  investment earnings and interest earned on amounts   credited to the fund;                (4)  money from gifts, grants, or donations to the   fund; and                (5)  money returned from any authorized transfer.          SECTION 2.  Section 49-g, Article III, Texas Constitution,   is amended by adding Subsection (g-1) and amending Subsection (h)   to read as follows:           (g-1)     When the comptroller of public accounts acts to   prevent the amount in the economic stabilization fund from   exceeding the limit in effect for a biennium under Subsection (g) of   this section by reducing an amount transferred to the fund from   general revenue as provided by Subsection (b) or (c) of this section   or by crediting to general revenue interest that is due to the fund   as provided by Subsection (i) of this section, the comptroller   shall:                 (1)     determine an amount of general revenue equal to   the amount by which the balance of general revenue is increased by   the reduction of the transfer from general revenue or the crediting   of interest to general revenue; and                 (2)  transfer to the Texas water fund the lesser of:                       (A)     the amount determined under Subdivision (1)   of this subsection; or                       (B)     $1 billion, adjusted annually to increase   that amount by the lesser of:                             (i)     the change in the inflation rate, if   that rate is greater than zero, in the Consumer Price Index for All   Urban Consumers published by the Bureau of Labor Statistics of the   United States Department of Labor for the applicable year; or                             (ii)  two percent.          (h)  In preparing an estimate of anticipated revenues for a   succeeding biennium as required by Section 49a, Article III,   [ Section 49a, ] of this constitution, the comptroller shall estimate   the amount of the transfers that will be made under Subsections (b),   (d), [ and ] (e) , and (g-1) of this section.  The comptroller shall   deduct that amount from the estimate of anticipated revenues as if   the transfers were made on August 31 of that fiscal year.          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 89th Legislature,   Regular Session, 2025, dedicating certain general revenue that   would otherwise be transferred to the economic stabilization fund   to the Texas water fund.           (b)     The amendments to Section 49-d-16, as proposed by S.J.R.   75, 88th Legislature, Regular Session, 2023, and Section 49-g,   Article III, of this constitution take effect January 1, 2026.           (c)  This temporary provision expires January 1, 2027.          SECTION 4.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.     The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment dedicating certain   general revenue that would otherwise be transferred to the economic   stabilization fund to the Texas water fund."