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TX SJR48
Joint Resolution
Status
1/29/2025
Primary Sponsor
Cesar Blanco
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AI Summary
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Creates the Texas Severance Tax Revenue and Oil and Natural Gas (Texas STRONG) Defense Fund as a constitutionally established fund in the state treasury to benefit areas significantly affected by oil and gas production
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Reallocates severance tax revenue transfers: 38% to the Economic Stabilization Fund (reduced from 50%), 10% to the Texas STRONG fund (capped at $500 million per fiscal year), 1% each to the oil and gas regulation/cleanup account and Texas Emissions Reduction Plan fund, with the remainder going to the State Highway Fund
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Texas STRONG fund appropriations may only be used for grants to state agencies, political subdivisions, public higher education institutions, and nonprofits to address public health/safety concerns, workforce preparedness, and educational opportunities in oil and gas-affected areas
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Any amount allocated to the Texas STRONG fund exceeding the $500 million annual cap would be transferred to the property tax relief fund instead
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If approved by voters on November 4, 2025, the constitutional amendment would take effect September 1, 2027
Legislative Description
Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and certain other funds and accounts.
State Finances
Last Action
Referred to Finance
2/24/2025