Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and certain other funds and accounts.
Impact
If enacted, SJR48 will amend the Texas Constitution, specifically Section 49-g, to detail how severance tax revenues from oil and gas production are handled. This includes committing a certain percentage of funds to benefit those areas hit hardest by the impact of oil and gas exploration and production. The fund will be available for appropriation by the legislature to address pressing needs such as public health, safety, educational opportunities, and workforce preparedness in affected regions, fostering community resilience.
Summary
SJR48 proposes a constitutional amendment to establish the Texas Severance Tax Revenue and Oil and Natural Gas (Texas STRONG) defense fund. This fund aims to provide financial support to regions significantly impacted by oil and gas production. The bill outlines a process for the transfer of specific percentages of general revenues into this fund, including allocations to the economic stabilization fund and various other funds like the oil and gas regulation and cleanup account. The intention is to ensure that areas affected by the oil and gas industry benefit directly from the associated revenues.
Contention
Discussions around SJR48 may involve contention points regarding the allocation of funds and who determines which areas are deemed 'significantly affected' by oil and gas production. Critics may argue about the potential for inequitable distribution of funds or question whether the proposed uses of the fund, such as grants to agencies and institutions, effectively address the needs of local populations. Furthermore, setting a cap of $500 million on allocations to the Texas STRONG defense fund raises questions around future funding priorities and sustainability of support for these communities.
Identical
Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and certain other funds and accounts.
Enabled by
Relating to the allocation of certain constitutional transfers of money to certain funds and accounts, including the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, and to the permissible uses of money deposited to the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund.
Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and certain other funds and accounts.
Relating to the allocation of certain constitutional transfers of money to certain funds and accounts, including the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, and to the permissible uses of money deposited to the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund.
Relating to the allocation of certain constitutional transfers of money to certain funds and accounts, including the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, and to the permissible uses of money deposited to the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund.
Proposing a constitutional amendment 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.
Proposing a constitutional amendment dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to the Texas water fund.
Proposing a constitutional amendment establishing the property tax reduction fund to reduce school district maintenance and operations ad valorem taxes and dedicating certain unencumbered general revenue and certain general revenue that would otherwise be transferred to the economic stabilization fund to that fund.
Proposing a constitutional amendment providing for the creation of the property tax reduction fund and dedicating certain surplus state revenue to the fund.
Proposing a constitutional amendment dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to reducing school district maintenance and operations ad valorem taxes.
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.
Modifies collective Statewide transfer agreement and reverse transfer agreement; establishes New Jersey Transfer Ombudsperson within Office of Secretary of Higher Education.
Modifies collective statewide transfer agreement and reverse transfer agreement; establishes New Jersey Transfer Ombudsperson within Office of Secretary of Higher Education.