By: Nichols, et al. S.J.R. No. 2
 
 
  SENATE JOINT RESOLUTION
 
 
 
  proposing a constitutional amendment to provide for the transfer of
  certain general revenue to the economic stabilization fund, to
  provide for the transfer of certain general revenue to the state
  highway fund and the dedication of that revenue, and to authorize
  the payment of the principal and interest on certain highway
  improvement bonds from other money deposited to the state highway
  fund.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-g, Article III, Texas Constitution,
  is amended by amending Subsections (c), (d), and (e) and adding
  Subsections (c-1) and (c-2) to read as follows:
         (c)  Not later than the 90th day of each fiscal year, the
  comptroller of public accounts shall transfer from the general
  revenue fund to the economic stabilization fund and the state
  highway fund the sum of the amounts described [prescribed] by
  Subsections (d) and (e) of this section, to be allocated as provided
  by Subsections (c-1) and (c-2) of this section. However, if
  necessary and notwithstanding the allocations prescribed by
  Subsections (c-1) and (c-2) of this section, the comptroller shall
  reduce proportionately the amounts described by Subsections (d) and
  (e) of this section to be transferred and allocated to the economic
  stabilization fund to prevent the amount in that [the] fund from
  exceeding the limit in effect for that biennium under Subsection
  (g) of this section.  Revenue transferred to the state highway fund
  under this subsection may be used only for constructing,
  maintaining, and acquiring rights-of-way for public roadways.
         (c-1)  Of the sum of the amounts described by Subsections (d)
  and (e) of this section and required to be transferred from the
  general revenue fund under Subsection (c) of this section, the
  comptroller shall allocate one-half to the economic stabilization
  fund and the remainder to the state highway fund, except as provided
  by Subsection (c-2) of this section.
         (c-2)  If the anticipated balance of the economic
  stabilization fund after any transfer that may be made under
  Subsection (b) of this section and any transfer and allocation of
  money that may be made as provided by Subsections (c) and (c-1) of
  this section would be less than $6 billion, the comptroller shall
  reduce the amount that would otherwise be allocated to the state
  highway fund as provided by Subsection (c-1) of this section by the
  lesser of the total amount of the allocation to that fund or the
  amount necessary for the anticipated balance of the economic
  stabilization fund, after any transfer that may be made under
  Subsection (b) of this section and the transfer and allocation to be
  made as provided by Subsections (c) and (c-1) of this section, to
  equal $6 billion. The comptroller shall allocate to the economic
  stabilization fund the amount by which the allocation to the state
  highway fund is reduced under this subsection.
         (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 transfer under Subsection
  (c) of this section and allocate in accordance with Subsections
  (c-1) and (c-2) of this section [to the economic stabilization
  fund] an amount equal to 75 percent of the difference between those
  amounts. The comptroller shall 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 transfer under Subsection
  (c) of this section and allocate in accordance with Subsections
  (c-1) and (c-2) of this section [to the economic stabilization
  fund] an amount equal to 75 percent of the difference between those
  amounts. The comptroller shall 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)  Except for revenue transferred to the state highway fund
  under Section 49-g(c) of this article, money deposited to the
  credit of that fund, including money dedicated by Section 7-a,
  Article VIII, of this constitution and deposited to that 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 economic stabilization fund, to provide for
  the transfer of certain general revenue to the state highway fund
  and the dedication of that revenue, and to authorize the payment of
  the principal and interest on certain highway improvement bonds
  from other money deposited to the state highway fund.
         (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 (c) 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 economic stabilization
  fund, to provide for the transfer of certain general revenue to the
  state highway fund and the dedication of that revenue, and to
  authorize the payment of the principal and interest on certain
  highway improvement bonds from other money deposited to the state
  highway fund."