TITLE: Relating to the transfer of certain general revenue to the Texas rail relocation and improvement fund.

SUMMARY: Relating to the transfer of certain general revenue to the Texas rail relocation and improvement fund.

FULL TEXT:
AN ACT relating to the transfer of certain general revenue to the Texas rail relocation and improvement fund. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. The heading to Section 316.093, Government Code, is amended to read as follows: Sec. 316.093. ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO FUND,TEXAS RAIL RELOCATION AND IMPROVEMENT FUND, AND STATE HIGHWAY FUND. SECTION 2. Sections 316.093(b), (c), and (e), Government Code, are amended to read as follows: (b) If the sum described by Subsection (a) is less than the sufficient balance adopted under Section 316.092, the comptroller shall reduce the allocations [allocation] to the Texas rail relocation and improvement fund and the state highway fund provided by Section 49-g(c), Article III, Texas Constitution, and increase the allocation to the economic stabilization fund, in an [equal] amount equal to the reductions,until the sufficient balance adopted under Section 316.092 is achieved. The reductions under this subsection must be made so that the allocation to a fund is reduced by the same percentage by which the allocation to the other fund is reduced. (c) If under Section 316.092 a sufficient balance has not been adopted for the comptroller to consider under this section, the comptroller shall adjust the allocation of amounts to be transferred to the fund,the Texas rail relocation and improvement fund, and [to] the state highway fund provided by Section 49-g(c), Article III, Texas Constitution, so that the total of those amounts is transferred to the economic stabilization fund, except that the comptroller shall reduce a transfer made under this subsection as necessary to prevent the amount in the fund from exceeding the limit in effect for that biennium under Section 49-g(g) of that article. (e) For the purposes of Section 49-g(c-2), Article III, Texas Constitution, the comptroller shall adjust the allocation provided by Section 49-g(c-1) of that article of amounts to be transferred to the fund,the Texas rail relocation and improvement fund, and [to] the state highway fund under Section 49-g(c) of that article in a state fiscal year beginning on or after September 1, 2025, so that the total of those amounts is transferred to the economic stabilization fund, except that the comptroller shall reduce a transfer made under this subsection as necessary to prevent the amount in the fund from exceeding the limit in effect for that biennium under Section 49-g(g) of that article. SECTION 3. This Act takes effect on the date on which the constitutional amendment proposed by the 84th Legislature, Regular Session, 2015, providing for the transfer of certain general revenue to the Texas rail relocation and improvement fund takes effect.