Texas Constitution:Article III, Section 49-j - Revision history

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2024-06-02T19:44:38Z

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	\|seo_keywords=Article 3 Section 49-j, state bonds, debt limit		\|seo_keywords=Article 3 Section 49-j, state bonds, debt limit
	\|seo_description=The Legislature may not authorize additional debt if the resulting debt service exceeds this section's limit.		\|seo_description=The Legislature may not authorize additional debt if the resulting debt service exceeds this section's limit.
	\|seo_image=~~Texas_Constitution_of_1876_Article_3~~.jpg		\|seo_image=mod_Texas_Constitution_of_1876_Article_3.jpg
	\|seo_image_alt=Article III: Legislative Department		\|seo_image_alt=Article III: Legislative Department

Admin: Text replacement - "State debt" to "state debt"

2023-08-10T13:46:09Z

Text replacement - "State debt" to "state debt"

← Older revision		Revision as of 08:46, August 10, 2023
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	{{DISPLAYTITLE:Article III, Section 49-j of the Texas Constitution (''<small>"Limit on State Debt Payable from General Revenue Fund"</small>'')}}{{Texas Constitution\|text=Added November 4, 1997:		{{DISPLAYTITLE:Article III, Section 49-j of the Texas Constitution (''<small>"Limit on State Debt Payable from General Revenue Fund"</small>'')}}{{Texas Constitution\|text=Added November 4, 1997:

	'''(a) The Legislature may not authorize additional ~~State~~ debt if the resulting annual debt service exceeds the limitation imposed by this section. The maximum annual debt service in any fiscal year on ~~State~~ debt payable from the General Revenue Fund may not exceed five percent of an amount equal to the average of the amount of General Revenue Fund revenues, excluding revenues constitutionally dedicated for purposes other than payment of ~~State~~ debt, for the three preceding fiscal years.'''		'''(a) The Legislature may not authorize additional state debt if the resulting annual debt service exceeds the limitation imposed by this section. The maximum annual debt service in any fiscal year on state debt payable from the General Revenue Fund may not exceed five percent of an amount equal to the average of the amount of General Revenue Fund revenues, excluding revenues constitutionally dedicated for purposes other than payment of state debt, for the three preceding fiscal years.'''

	'''(b) For purposes of this section, "~~State~~ debt payable from the General Revenue Fund" means general obligation and revenue bonds, including authorized but unissued bonds, and lease-purchase agreements in an amount greater than $250,000, which bonds or lease purchase agreements are designed to be repaid with the general revenues of the State. The term does not include bonds that, although backed by the full faith or credit of the State, are reasonably expected to be paid from other revenue sources and that are not expected to create a general revenue draw. Bonds or lease purchase agreements that pledge the full faith and credit of the State are considered to be reasonably expected to be paid from other revenue sources if they are designed to receive revenues other than state general revenues sufficient to cover their debt service over the life of the bonds or agreement. If those bonds or agreements, or any portion of the bonds or agreements, subsequently requires use of the state's general revenue for payment, the bonds or agreements, or portion of the bonds or agreements, is considered to be a "~~State~~ debt payable from the General Revenue Fund" under this section, until: (1) the bonds or agreements are backed by insurance or another form of guarantee that ensures payment from a source other than general revenue; or (2) the issuer demonstrates to the satisfaction of the Bond Review Board or its successor designated by law that the bonds no longer require payment from general revenue, and the Bond Review Board so certifies to the Legislative Budget Board or its successor designated by law.'''		'''(b) For purposes of this section, "state debt payable from the General Revenue Fund" means general obligation and revenue bonds, including authorized but unissued bonds, and lease-purchase agreements in an amount greater than $250,000, which bonds or lease purchase agreements are designed to be repaid with the general revenues of the State. The term does not include bonds that, although backed by the full faith or credit of the State, are reasonably expected to be paid from other revenue sources and that are not expected to create a general revenue draw. Bonds or lease purchase agreements that pledge the full faith and credit of the State are considered to be reasonably expected to be paid from other revenue sources if they are designed to receive revenues other than state general revenues sufficient to cover their debt service over the life of the bonds or agreement. If those bonds or agreements, or any portion of the bonds or agreements, subsequently requires use of the state's general revenue for payment, the bonds or agreements, or portion of the bonds or agreements, is considered to be a "state debt payable from the General Revenue Fund" under this section, until: (1) the bonds or agreements are backed by insurance or another form of guarantee that ensures payment from a source other than general revenue; or (2) the issuer demonstrates to the satisfaction of the Bond Review Board or its successor designated by law that the bonds no longer require payment from general revenue, and the Bond Review Board so certifies to the Legislative Budget Board or its successor designated by law.'''

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Admin at 18:48, August 9, 2023

2023-08-09T18:48:11Z

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	{{DISPLAYTITLE:Article III, Section 49-j of the Texas Constitution (''<small>"Limit on State Debt Payable from General Revenue Fund"</small>'')}}{{Texas Constitution\|text=Added November 4, 1997:		{{DISPLAYTITLE:Article III, Section 49-j of the Texas Constitution (''<small>"Limit on State Debt Payable from General Revenue Fund"</small>'')}}{{Texas Constitution\|text=Added November 4, 1997:

	'''(a) The Legislature may not authorize additional ~~state~~ debt if the resulting annual debt service exceeds the limitation imposed by this section. The maximum annual debt service in any fiscal year on ~~state~~ debt payable from the General Revenue Fund may not exceed five percent of an amount equal to the average of the amount of ~~general revenue fund~~ revenues, excluding revenues constitutionally dedicated for purposes other than payment of ~~state~~ debt, for the three preceding fiscal years.'''		'''(a) The Legislature may not authorize additional State debt if the resulting annual debt service exceeds the limitation imposed by this section. The maximum annual debt service in any fiscal year on State debt payable from the General Revenue Fund may not exceed five percent of an amount equal to the average of the amount of General Revenue Fund revenues, excluding revenues constitutionally dedicated for purposes other than payment of State debt, for the three preceding fiscal years.'''

	'''(b) For purposes of this section, "~~state~~ debt payable from the General Revenue Fund" means general obligation and revenue bonds, including authorized but unissued bonds, and lease-purchase agreements in an amount greater than $250,000, which bonds or lease purchase agreements are designed to be repaid with the general revenues of the ~~state~~. The term does not include bonds that, although backed by the full faith or credit of the ~~state~~, are reasonably expected to be paid from other revenue sources and that are not expected to create a general revenue draw. Bonds or lease purchase agreements that pledge the full faith and credit of the ~~state~~ are considered to be reasonably expected to be paid from other revenue sources if they are designed to receive revenues other than state general revenues sufficient to cover their debt service over the life of the bonds or agreement. If those bonds or agreements, or any portion of the bonds or agreements, subsequently requires use of the state's general revenue for payment, the bonds or agreements, or portion of the bonds or agreements, is considered to be a "~~state~~ debt payable from the General Revenue Fund" under this section, until: (1) the bonds or agreements are backed by insurance or another form of guarantee that ensures payment from a source other than general revenue; or (2) the issuer demonstrates to the satisfaction of the Bond Review Board or its successor designated by law that the bonds no longer require payment from general revenue, and the Bond Review Board so certifies to the Legislative Budget Board or its successor designated by law.'''		'''(b) For purposes of this section, "State debt payable from the General Revenue Fund" means general obligation and revenue bonds, including authorized but unissued bonds, and lease-purchase agreements in an amount greater than $250,000, which bonds or lease purchase agreements are designed to be repaid with the general revenues of the State. The term does not include bonds that, although backed by the full faith or credit of the State, are reasonably expected to be paid from other revenue sources and that are not expected to create a general revenue draw. Bonds or lease purchase agreements that pledge the full faith and credit of the State are considered to be reasonably expected to be paid from other revenue sources if they are designed to receive revenues other than state general revenues sufficient to cover their debt service over the life of the bonds or agreement. If those bonds or agreements, or any portion of the bonds or agreements, subsequently requires use of the state's general revenue for payment, the bonds or agreements, or portion of the bonds or agreements, is considered to be a "State debt payable from the General Revenue Fund" under this section, until: (1) the bonds or agreements are backed by insurance or another form of guarantee that ensures payment from a source other than general revenue; or (2) the issuer demonstrates to the satisfaction of the Bond Review Board or its successor designated by law that the bonds no longer require payment from general revenue, and the Bond Review Board so certifies to the Legislative Budget Board or its successor designated by law.'''

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Admin at 16:51, August 9, 2023

2023-08-09T16:51:53Z

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	\|seo_title=Article III, Section 49-j of the Texas Constitution ("Limit on State Debt Payable from General Revenue Fund")		\|seo_title=Article III, Section 49-j of the Texas Constitution ("Limit on State Debt Payable from General Revenue Fund")
	\|seo_keywords=Article 3 Section 49-j, ~~Texas Legislature~~, ~~...~~		\|seo_keywords=Article 3 Section 49-j, state bonds, debt limit
	\|seo_description=The ~~legislative power of Texas is vested in a Senate and House of Representatives~~.		\|seo_description=The Legislature may not authorize additional debt if the resulting debt service exceeds this section's limit.
	\|seo_image=Texas_Constitution_of_1876_Article_3.jpg		\|seo_image=Texas_Constitution_of_1876_Article_3.jpg
	\|seo_image_alt=Article III: Legislative Department		\|seo_image_alt=Article III: Legislative Department

Admin at 17:19, July 26, 2023

2023-07-26T17:19:11Z

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	\|seo_title=Article III, Section _ of the Texas Constitution (" ~~...~~ ")		\|seo_title=Article III, Section 49-j of the Texas Constitution ("Limit on State Debt Payable from General Revenue Fund")
	\|seo_keywords=Article 3 Section _, Texas Legislature, ...		\|seo_keywords=Article 3 Section 49-j, Texas Legislature, ...
	\|seo_description=The legislative power of Texas is vested in a Senate and House of Representatives.		\|seo_description=The legislative power of Texas is vested in a Senate and House of Representatives.
	\|seo_image=Texas_Constitution_of_1876_Article_3.jpg		\|seo_image=Texas_Constitution_of_1876_Article_3.jpg

Admin: Text replacement - "}}↵↵Category:TxCon ArtIII Sec" to "|seo_title=Article III, Section _ of the Texas Constitution (" ... ") |seo_keywords=Article 3 Section _, Texas Legislature, ... |seo_description=The legislative power of Texas is vested in a Senate and House of Representatives. |seo_image=Texas_Constitution_of_1876_Article_3.jpg |seo_image_alt=Article III: Legislative Department }} Category:TxCon ArtIII Sec"

2023-07-24T22:20:17Z

Text replacement - "}}↵↵Category:TxCon ArtIII Sec" to "|seo_title=Article III, Section _ of the Texas Constitution (" ... ") |seo_keywords=Article 3 Section _, Texas Legislature, ... |seo_description=The legislative power of Texas is vested in a Senate and House of Representatives. |seo_image=Texas_Constitution_of_1876_Article_3.jpg |seo_image_alt=Article III: Legislative Department }} Category:TxCon ArtIII Sec"

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			\|seo_keywords=Article 3 Section _, Texas Legislature, ...
			\|seo_description=The legislative power of Texas is vested in a Senate and House of Representatives.
			\|seo_image=Texas_Constitution_of_1876_Article_3.jpg
			\|seo_image_alt=Article III: Legislative Department

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	[[Category:TxCon ArtIII Sec]]		[[Category:TxCon ArtIII Sec]]

imported>Admin at 20:13, January 4, 2023

2023-01-04T20:13:08Z

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{{DISPLAYTITLE:Article III, Section 49-j of the Texas Constitution (''<small>"Limit on State Debt Payable from General Revenue Fund"</small>'')}}{{Texas Constitution|text=Added November 4, 1997:

'''(a) The Legislature may not authorize additional state debt if the resulting annual debt service exceeds the limitation imposed by this section. The maximum annual debt service in any fiscal year on state debt payable from the General Revenue Fund may not exceed five percent of an amount equal to the average of the amount of general revenue fund revenues, excluding revenues constitutionally dedicated for purposes other than payment of state debt, for the three preceding fiscal years.'''

'''(b) For purposes of this section, "state debt payable from the General Revenue Fund" means general obligation and revenue bonds, including authorized but unissued bonds, and lease-purchase agreements in an amount greater than $250,000, which bonds or lease purchase agreements are designed to be repaid with the general revenues of the state. The term does not include bonds that, although backed by the full faith or credit of the state, are reasonably expected to be paid from other revenue sources and that are not expected to create a general revenue draw. Bonds or lease purchase agreements that pledge the full faith and credit of the state are considered to be reasonably expected to be paid from other revenue sources if they are designed to receive revenues other than state general revenues sufficient to cover their debt service over the life of the bonds or agreement. If those bonds or agreements, or any portion of the bonds or agreements, subsequently requires use of the state's general revenue for payment, the bonds or agreements, or portion of the bonds or agreements, is considered to be a "state debt payable from the General Revenue Fund" under this section, until: (1) the bonds or agreements are backed by insurance or another form of guarantee that ensures payment from a source other than general revenue; or (2) the issuer demonstrates to the satisfaction of the Bond Review Board or its successor designated by law that the bonds no longer require payment from general revenue, and the Bond Review Board so certifies to the Legislative Budget Board or its successor designated by law.'''

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[[Category:TxCon ArtIII Sec]]