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Texas Constitution:Article III, Section 49-g (view source)
Revision as of 14:31, August 7, 2023
, August 7, 2023Text replacement - "state treasury" to "State Treasury"
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{{DISPLAYTITLE:Article III, Section 49-g of the Texas Constitution (''<small>"Economic Stabilization Fund; Allocation of Certain Tax Revenue"</small>'')}}{{Texas Constitution|text=As amended November 4, 2014: | {{DISPLAYTITLE:Article III, Section 49-g of the Texas Constitution (''<small>"Economic Stabilization Fund; Allocation of Certain Tax Revenue"</small>'')}}{{Texas Constitution|text=As amended November 4, 2014: | ||
'''(a) The Economic Stabilization Fund is established as a special fund in the | '''(a) The Economic Stabilization Fund is established as a special fund in the State Treasury.''' | ||
'''(b) The Comptroller shall, not later than the 90th day of each biennium, transfer to the Economic Stabilization Fund one-half of any unencumbered positive balance of general revenues on the last day of the preceding biennium. If necessary, the Comptroller shall reduce the amount transferred in proportion to the other amounts prescribed by this section to prevent the amount in the fund from exceeding the limit in effect for that biennium under Subsection (g) of this section.''' | '''(b) The Comptroller shall, not later than the 90th day of each biennium, transfer to the Economic Stabilization Fund one-half of any unencumbered positive balance of general revenues on the last day of the preceding biennium. If necessary, the Comptroller shall reduce the amount transferred in proportion to the other amounts prescribed by this section to prevent the amount in the fund from exceeding the limit in effect for that biennium under Subsection (g) of this section.''' | ||