TX
Texas House Bill HB5227
Texas 2023 - 88th Regular
Menu
TX

Texas 2023 - 88th Regular

Texas House Bill HB5227

Voted on by House
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the Texas legacy fund, and the state highway fund and to the management and investment of the economic stabilization fund, the Texas legacy fund, and the Texas legacy distribution fund.

Impact

One notable aspect of HB5227 is its potential to alter the state's fiscal landscape by providing a structured method of allocating funds during times of economic fluctuation. This bill could significantly impact state law by reinforcing the mechanism that determines how surplus state revenue is distributed. Specifically, it is designed to create a safety net for economic downturns while also allowing for structured investment in long-term projects through the Texas legacy fund.

Summary

House Bill 5227 aims to amend and expand the framework surrounding the allocation of funds to the economic stabilization fund, the Texas legacy fund, and the state highway fund in Texas. The bill includes provisions for how the comptroller will manage transfers to these funds, particularly in periods when general revenue is limited. The goal is to ensure that certain thresholds for funding are met, thereby promoting economic stability and the ability to fund important state projects efficiently.

Sentiment

The sentiment around the bill is generally positive among proponents who view it as a necessary step toward prudent fiscal management. Supporters argue that the bill ensures that vital state funds are maintained at necessary levels, thus encouraging infrastructure development and state investment. However, there is concern from some groups about the implications of reallocating funds, specifically regarding potential impacts on less prioritized state services.

Contention

However, there are points of contention regarding the bill's execution and its long-term implications. Critics fear that the emphasis on the economic stabilization fund might detract from immediate spending on essential services. There is also concern over whether the redistribution of funds could lead to fluctuations that could destabilize other programs currently supported by state funding, leading to a complex interplay between immediate fiscal needs and long-term financial planning.

Latest TX HB5227 Activity

View All Events: TX 2023 - 88th Regular HB5227

Companion Bills

TX HJR203

Enabling for Proposing a constitutional amendment providing for the creation of the Texas legacy fund and the Texas legacy distribution fund, dedicating the Texas legacy distribution fund to certain state infrastructure projects or the reduction of certain long-term obligations, and providing for the transfer of certain general revenues to the economic stabilization fund, the Texas legacy fund, and the state highway fund.

TX HJR203

Enabling for Proposing a constitutional amendment providing for the creation of the Texas legacy fund and the Texas legacy distribution fund, dedicating the Texas legacy distribution fund to certain state infrastructure projects or the reduction of certain long-term obligations, and providing for the transfer of certain general revenues to the economic stabilization fund, the Texas legacy fund, and the state highway fund.

Previously Filed As

TX HB265

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.

TX HB4326

Relating to reducing school district maintenance and operations ad valorem taxes through the use of certain state revenue and the allocation of certain constitutional transfers of money to the economic stabilization fund, the property tax reduction fund, and the state highway fund.

TX HJR35

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.

TX HB188

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.

TX SB1001

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.

TX HJR47

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.

TX SJR48

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.

TX HJR126

Proposing a constitutional amendment dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to the Texas water fund.

TX SB2012

Legacy fund definitions, a legacy earnings fund, the legacy earnings highway distribution fund, and legacy earnings township highway aid fund; to provide for a legislative management report; to provide for application; to provide an effective date; and to provide an exemption.

TX SJR4

Proposing a constitutional amendment providing for the maximum amount of money allowable in the economic stabilization fund.

Similar Bills

TX HB265

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.

TX HJR183

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.

TX HJR35

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.

IL HJRCA0009

CONAMEND-OFFICE OF COMPTROLLER

TX HJR47

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.

TX SJR48

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.

TX SB21

Relating to the establishment and administration of the Texas Strategic Bitcoin Reserve for the purpose of investing in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve and certain other state funds.