TX SB319

Creates a new "state debt retirement account" within the general revenue fund, to be administered by the comptroller

Requires the comptroller to allocate money to this account whenever transfers to the economic stabilization fund (rainy day fund) are reduced due to the fund reaching its constitutional cap

Directs interest payments that would otherwise go to the economic stabilization fund (when it exceeds its cap) to instead be credited to the state debt retirement account

Restricts use of funds in the account exclusively for paying principal or interest on state bonds, notes, or other debt obligations

Once all state debt is paid off, any remaining balance transfers to general revenue for any governmental purpose, and the comptroller stops making allocations to the account

Effective date: September 1, 2025