By: Nichols, et al.	S.J.R. No. 1
	(In the Senate - Filed June 26, 2013; July 1, 2013, read
	first time and referred to Committee on Finance; July 2, 2013,
	reported favorably by the following vote:  Yeas 12, Nays 0;
	July 2, 2013, sent to printer.)

	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 certain general revenue transferred 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 other
	than toll roads.
	(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 one-third of the maximum authorized
	balance of the economic stabilization fund, as provided by
	Subsection (g) of this section, for the state fiscal biennium
	preceding the biennium during which the transfer under Subsection
	(c) of this section is to be made, 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 one-third of the
	maximum authorized balance of the economic stabilization fund, as
	provided by Subsection (g) of this section, for the state fiscal
	biennium preceding the biennium during which the transfer under
	Subsection (c) of this section is to be made. 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)  Revenue transferred to the state highway fund under
	Section 49-g(c) of this article may be appropriated to pay the
	principal of 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,
	2nd 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 certain general revenue transferred 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 certain general revenue transferred
	to the state highway fund."
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