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TX HJR35
Joint Resolution
Status
5/12/2025
Primary Sponsor
Tom Craddick
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AI Summary
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Creates the Grow Texas fund as a new state treasury fund to address infrastructure needs in areas of Texas significantly affected by oil and gas production
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Redirects 12% of general revenue transfers that would go to the economic stabilization fund (rainy day fund) to the Grow Texas fund instead, capped at $250 million per state fiscal biennium
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Establishes a seven-member Grow Texas fund commission to administer appropriations and advise the legislature, consisting of two senators, two representatives, and three public members appointed by the governor
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Requires any unobligated and unappropriated money remaining in the Grow Texas fund at the end of each biennium to be transferred to the economic stabilization fund
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Submits the constitutional amendment to voters on November 4, 2025, with provisions taking effect September 1, 2027
Legislative Description
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.
State Finances
Last Action
Received from the House
5/13/2025