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Amend CSHB 7 by inserting new subsections (d) and (e) under SECTION 1 and renumbering subsequent subsections of the bill accordingly to read:
(d) For the purpose of reduction of reliance on available dedicated revenue for budget certification the board shall not set the rate of growth of appropriation as required by Government Code, Section 316.001 to exceed the lesser of:
(1) the revenue estimate required by Government Code, Section 403.121;
(2) the estimated rate of growth of the state's economy pursuant to Government Code, Section 316.002; or
(3) a rate equal to the sum of:
(A) the estimated biennial rate of growth of the state's population; and
(B) the estimated biennial rate of monetary inflation in the state.
(e) The board shall determine the estimated biennial rate of growth of the state's population based on the average rate of growth during the preceding six years according to United States Census Bureau estimates as certified by the comptroller. The board shall determine the estimated biennial rate of monetary inflation in the state based on the average rate of change during the preceding six years of the effective consumer price index for the state. For purposes of this subsection, the effective consumer price index for the state is the average of the consumer price indexes as determined by the United States Department of Labor for the Corpus Christi metropolitan area and for the Dallas/Fort Worth metropolitan area.