Sec. 316.092. DETERMINATION OF SUFFICIENT FUND BALANCE. (a) Not later than September 1 of each even-numbered year preceding the year in which this section expires as provided by Subsection (e), the speaker of the house of representatives and the lieutenant governor shall appoint a select committee as follows:
(1) the speaker of the house of representatives shall appoint five members of the house of representatives as members of the committee; and
(2) the lieutenant governor shall appoint five members of the senate as members of the committee.
(b) For the purposes of Section 49-g(c-2), Article III, Texas Constitution, not later than December 1 of each even-numbered year preceding the year in which this section expires as provided by Subsection (e), the select committee shall determine and adopt for the next state fiscal biennium a sufficient balance of the fund in an amount that the committee estimates will ensure an appropriate amount of revenue available in the fund. In determining the sufficient balance for that fiscal biennium, the committee shall consider:
(1) the history of fund balances;
(2) the history of transfers to the fund;
(3) estimated fund balances during that fiscal biennium;
(4) estimated transfers to the fund to occur during that fiscal biennium;
(5) information available to the committee regarding state highway congestion and funding demands; and
(6) any other information requested by the committee regarding the state's financial condition.
(c) On or before October 1 of each even-numbered year preceding the year in which this section expires as provided by Subsection (e), the comptroller shall provide to the select committee the comptroller's projection of the amounts to be transferred to the fund during the next state fiscal biennium.
(d) When the select committee has adopted under Subsection (b) the amount of the sufficient balance of the fund for a state fiscal biennium, the matter of approving that amount shall be presented to each house of the legislature in a concurrent resolution during the next succeeding regular legislative session. The resolution must be presented for a vote in each house of the legislature not later than the 30th day of that legislative session, must be approved by a vote of a majority of the members of each house, and must be finally approved by each house not later than the 45th day of that legislative session. If a resolution finally approved under this subsection is amended during the legislative process to provide for a different sufficient balance of the fund than that adopted under Subsection (b), that different balance is the sufficient balance adopted under this section for purposes of Section 316.093. If a resolution finally approved under this subsection does not provide for a different sufficient balance of the fund or if a resolution is not finally approved as provided by this subsection, the sufficient balance adopted under Subsection (b) is the sufficient balance adopted under this section for purposes of Section 316.093.
(e) This section expires December 31, 2024.
Added by Acts 2013, 83rd Leg., 3rd C.S., Ch. 1 (H.B. 1), Sec. 3.
For expiration of Subsections (a), (b), (c), and (f), see Subsection (f).
Last modified: September 28, 2016