Proposing a constitutional amendment dedicating a portion of the revenue derived from state sales and use taxes and insurance premium taxes to the Texas water fund.
Impact
This constitutional change would potentially consolidate and secure funding for Texas' water needs over coming decades. Specifically, it allocates net revenue from state sales taxes exceeding $46.5 billion and a fixed portion of insurance premium taxes, thereby creating a robust financial framework aimed at tackling major water supply issues. The legislature will have the power to dictate how funds are allocated but cannot amend the allocation once established for a ten-year period, ensuring stability in funding.
Summary
SJR66 proposes a constitutional amendment aimed at dedicating a portion of revenue from state sales and use taxes, as well as insurance premium taxes, to the Texas water fund. The resolution intends to address the state's water supply challenges by ensuring a sustainable funding source for water conservation and infrastructure projects. Such an amendment is anticipated to bolster water management strategies, benefiting both urban and rural communities across Texas.
Contention
Despite its anticipated benefits, the bill has faced scrutiny regarding its long-term fiscal implications. Opponents argue that tying these revenues directly to the water fund might limit the state's flexibility in addressing other pressing budgetary concerns. Furthermore, there are concerns regarding the necessity of requiring voter approval for accessing these funds, which may complicate the funding process and slow down crucial water infrastructure projects, potentially exacerbating existing water issues in the state.
Enabled by
Relating to the oversight and financing of certain water infrastructure matters under the jurisdiction of the Texas Water Development Board.
Proposing a constitutional amendment to dedicate a portion of the revenue derived from state sales and use taxes to the Texas water fund and to provide for the allocation and use of that revenue.
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 providing for the creation of the property tax reduction fund and dedicating certain surplus state revenue to the fund.
A joint resolution proposing an amendment to the Constitution of the State of Iowa by repealing the natural resources and outdoor recreation trust fund, and dedicating a portion of state revenue from sales and use taxes imposed for the benefit of property tax relief.
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.
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.
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 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 dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to reducing school district maintenance and operations ad valorem taxes.
A resolution to direct the Clerk of the House of Representatives to only present to the Governor enrolled House bills finally passed by both houses of the One Hundred Third Legislature.
Relating to nonsubstantive additions to, revisions of, and corrections in enacted codes, to the nonsubstantive codification or disposition of various laws omitted from enacted codes, and to conforming codifications enacted by the 88th Legislature to other Acts of that legislature.