Craddick Grow Texas Fund Bill Waits Until September 1, 2029

The text as introduced · 978 words

90R1432 CJC-D

By: Craddick
H.B. No. 614

A BILL TO BE ENTITLED

AN ACT

relating to the allocation of certain constitutional transfers of

money to the economic stabilization fund, the state highway fund,

and the Grow Texas fund and to the permissible uses of money

deposited to the Grow Texas fund.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. The heading to Subchapter H, Chapter 316,

Government Code, is amended to read as follows:

SUBCHAPTER H. ALLOCATION OF CONSTITUTIONAL TRANSFERS TO CERTAIN

FUNDS [ ECONOMIC STABILIZATION FUND AND STATE HIGHWAY FUND ]

SECTION 2. The heading to Section 316.092, Government Code,

is amended to read as follows:

Sec. 316.092. DETERMINATION OF THRESHOLD FOR

CONSTITUTIONAL TRANSFER TO CERTAIN FUNDS [ STATE HIGHWAY FUND ].

SECTION 3. The heading to Section 316.093, Government Code,

is amended to read as follows:

Sec. 316.093. ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO

CERTAIN FUNDS [ FUND AND STATE HIGHWAY FUND ].

SECTION 4. Section 316.093, Government Code, is amended by

amending Subsections (a), (b), and (d) and adding Subsection (e) to

read as follows:

(a) Before the comptroller makes transfers for a state

fiscal year in accordance with Section 49-g(c), Article III, Texas

Constitution, the comptroller shall determine whether the sum of

the balance of the fund on the preceding August 31, any projected

transfer to the fund under Section 49-g(b) of that article, [ and ]

any projected transfer to the fund under Section 49-g(c) of that

article in accordance with the allocations for the transfer as

provided by Section 49-g(c-1) of that article , and any increase in

the projected amount of the allocation to the fund under Section

49-g(c-2) of that article as provided by Subsection (c) of this

section is less than the amount determined under Section 316.092

for that state fiscal biennium.

(b) If the sum described by Subsection (a) is less than the

amount determined under Section 316.092 for that state fiscal

biennium, the comptroller shall reduce proportionately the amount

allocated [ allocation ] to the state highway fund provided by

Section 49-g(c-1) [ 49-g(c) ], Article III, Texas Constitution, and

the amount by which the transfer to the economic stabilization fund

under that subsection is reduced and a corresponding amount is

transferred to the Grow Texas fund as provided by Section 49-g(c-3)

of that article, and increase the allocation to the economic

stabilization fund[ , ] in an [ equal ] amount equal to the reduction

of those amounts [ , ] until the amount determined under Section

316.092 for that state fiscal biennium would be achieved by the

transfer to the fund or the total amount of the sum described by

Section 49-g(c), Article III, Texas Constitution, is allocated to

the fund, whichever occurs first. This subsection expires December

31, 2042.

(d) The adjustment required of the comptroller under

Subsection (c) does not increase the amount by which the allocation

to the economic stabilization fund is reduced and a corresponding

amount is transferred to the Grow Texas fund under Section

49-g(c-3), Article III, Texas Constitution. [ Subsections (a) and

(b) and this subsection expire December 31, 2042. ]

(e) If the sum described by Subsection (a) is less than the

amount determined under Section 316.092 for a state fiscal biennium

beginning on or after September 1, 2043, the comptroller shall

reduce the amount by which the transfer to the economic

stabilization fund under Section 49-g(c), Article III, Texas

Constitution, is reduced and a corresponding amount is transferred

to the Grow Texas fund as provided by Section 49-g(c-3) of that

article and increase the allocation to the economic stabilization

fund in an amount equal to the reduction of those amounts until the

amount determined under Section 316.092 for that state fiscal

biennium would be achieved by the transfer to the fund or the total

amount of the sum described by Section 49-g(c), Article III, Texas

Constitution, is allocated to the fund, whichever occurs first.

SECTION 5. Subchapter G, Chapter 403, Government Code, is

amended by adding Section 403.108 to read as follows:

Sec. 403.108. GROW TEXAS GRANT PROGRAM. (a) In this

section:

(1) "Commission" means the Grow Texas fund commission

created under Section 49-g-1(e), Article III, Texas Constitution.

(2) "Fund" means the Grow Texas fund established under

Section 49-g-1(a), Article III, Texas Constitution.

(b) The legislature may appropriate money in the fund to the

comptroller for the purpose of funding grants to applicants

selected by the commission under the program established under

Subsection (c).

(c) The comptroller and the commission shall jointly

establish a program under which the commission may select

applicants to receive grants provided by the comptroller to

construct or maintain roads, schools, health care facilities, and

other infrastructure in the areas of this state the commission

determines to be significantly affected by oil and gas production.

(d) The commission shall establish:

(1) eligibility criteria for grant applicants;

(2) guidelines relating to grant amounts; and

(3) procedures for evaluating and approving or denying

grant applications.

(e) The comptroller shall:

(1) establish the procedure for applying for a grant;

(2) adopt a form that must be used by an applicant to

apply for a grant; and

(3) establish procedures for monitoring the use of a

grant provided under the program and ensuring compliance with any

conditions of a grant.

(f) The comptroller shall adopt rules to implement and

administer this section.

SECTION 6. Section 316.092(b), Government Code, is

repealed.

SECTION 7. This Act takes effect September 1, 2029, but only

if the constitutional amendment proposed by the 90th Legislature,

Regular Session, 2027, providing for the creation of and use of

money in the Grow Texas fund and allocating certain general

revenues to that fund, the economic stabilization fund, and the

state highway fund is approved by the voters. If that amendment is

not approved by the voters, this Act has no effect.