Texas § GV.316.093 - ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO FUND AND STATE HIGHWAY FUND

§ GV.316.093. ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO FUND AND STATE HIGHWAY FUND

ADJUSTMENT OF CONSTITUTIONAL ALLOCATIONS TO FUND AND STATE HIGHWAY FUND. (a) Before the comptroller makes transfers for a state fiscal year in accordance with Section 49-g (c), Article III, Texas Constitution, the comptroller shall determine whether the sum of the balance of the fund on the preceding August 31, any projected transfer to the fund under Section 49-g(b) of that article, and any projected transfer to the fund under Section 49-g(c) of that article in accordance with the allocations for the transfer as provided by Section 49-g(c-1) of that article is less than the amount determined under Section 316.092 for that state fiscal biennium. (b) If the sum described by Subsection (a) is less than the amount determined under Section 316.092 for that state fiscal biennium, the comptroller shall reduce the allocation to 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, until the amount determined under Section 316.092 for that state fiscal biennium would be achieved by the transfer to the fund or the total amount of the sum described by Section 49-g (c), Article III, Texas Constitution, is allocated to the fund, whichever occurs first. (c) 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 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, 2043, 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. (d) Subsections (a) and (b) and this subsection expire December 31, 2042. Added by Acts 2013, 83rd Leg., 3rd C.S., Ch. 1 (H.B. 1 ), Sec. 3, eff. December 1, 2014. Amended by: Acts 2019, 86th Leg., R.S., Ch. 1336 (S.B. 69 ), Sec. 2, eff. September 1, 2019. Acts 2019, 86th Leg., R.S., Ch. 1372 (S.B. 962 ), Sec. 2, eff. September 1, 2019. Acts 2023, 88th Leg., R.S., Ch. 448 (H.B. 2230 ), Sec. 2, eff. September 1, 2023.