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TX HJR57
Joint Resolution
Status
11/12/2024
Primary Sponsor
Briscoe Cain
Click for details
AI Summary
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Proposes a constitutional amendment to redirect general revenue that would exceed the Economic Stabilization Fund (Rainy Day Fund) cap to property tax relief instead
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Requires the Comptroller to transfer excess funds—from reduced transfers to the Rainy Day Fund or credited interest—to the Property Tax Relief Fund or a successor account
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Restricts the transferred money to be appropriated only for reducing school district maintenance and operations (M&O) ad valorem taxes
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Constitutional amendments to Section 49-g, Article III would take effect January 1, 2026
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Election scheduled for November 4, 2025, allowing voters to approve or reject the amendment
Legislative Description
Proposing a constitutional amendment dedicating certain general revenue that would otherwise be transferred to the economic stabilization fund to reducing school district maintenance and operations ad valorem taxes.
State Finances
Last Action
Referred to Appropriations
3/3/2025