RESOLUTION ANALYSIS

 

 

 

H.J.R. 145

By: Davis, Sarah

Appropriations

Committee Report (Unamended)

 

 

 

BACKGROUND AND PURPOSE

 

Studies indicate that the frequency, severity, and cost of natural disasters to Texas will only increase over time. Although the federal government provides funding for disaster mitigation and recovery efforts, the amount of and timeline for disbursing these funds can be highly unpredictable. In an effort to provide for sustainable coordination and funding of disaster recovery and mitigation efforts for the state's political subdivisions in an expeditious manner, H.J.R. 145 proposes a constitutional amendment to authorize the disaster reinvestment and infrastructure planning board to issue general state obligation bonds for the disaster reinvestment and infrastructure planning revolving fund.

 

CRIMINAL JUSTICE IMPACT

 

It is the committee's opinion that this resolution does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

 

RULEMAKING AUTHORITY

 

It is the committee's opinion that this resolution does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

 

ANALYSIS

 

H.J.R. 145 proposes an amendment to the Texas Constitution to authorize the legislature to authorize the disaster reinvestment and infrastructure planning board to issue general state obligation bonds in an amount capped at $500 million and to enter into related credit agreements. The resolution sets out provisions relating to the administration of that bond program, the issuance of the bonds, and the manner by which the principal of and interest on the bonds are paid. The resolution requires the proceeds from the sale of the bonds to be deposited to the credit of the disaster reinvestment and infrastructure planning revolving fund established by H.B. 274, 86th Legislature, Regular Session, 2019, to be used only for a purpose for which money in the fund may be used in accordance with law. The resolution requires the expenses of issuance of the bonds to be paid from money in the fund.

 

ELECTION DATE

 

The constitutional amendment proposed by this joint resolution will be submitted to the voters at an election to be held November 5, 2019.