87R1319 JG-D     By: Menéndez S.J.R. No. 17       A JOINT RESOLUTION   proposing a constitutional amendment providing for the   establishment of the Texas Research Consortium to Cure Infectious   Diseases (TRANSCEND) and authorizing the issuance of general   obligation bonds to fund collaborative research on and development   of infectious disease treatments and cures for humans.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article III, Texas Constitution, is amended by   adding Section 69 to read as follows:          Sec. 69.  (a) In this section:                (1)  "Consortium" means the Texas Research Consortium   to Cure Infectious Diseases (TRANSCEND).                (2)  "Disease" means a disorder of structure or   function in a human that produces specific signs or symptoms or   affects a specific location in the human body and that has the   potential of being prevented by a vaccine or otherwise treated or   cured.          (b)  The legislature by general law shall establish the Texas   Research Consortium to Cure Infectious Diseases (TRANSCEND) to:                (1)  award grants to public or private persons or   entities for the purpose of:                      (A)  conducting collaborative research on   infectious diseases and associated conditions and innovative   methods to prepare for infectious disease outbreaks;                      (B)  developing treatments and cures, including   vaccines, for diseases and associated conditions;                      (C)  developing education initiatives and   conducting outreach to engage and inform the public on infectious   diseases and associated conditions; and                      (D)  developing initiatives to prepare for and   rapidly respond to infectious disease outbreaks and public health   crises;                (2)  establish a centralized research location through   which the consortium will operate and facilitate collaborative   research on infectious diseases and related disorders and the   development of treatments and cures for infectious diseases; and                (3)  establish appropriate standards and oversight   bodies for the consortium to ensure money authorized by this   section is properly used for infectious disease research and   preparation and for development of infectious disease treatments   and cures.          (c)  The legislature by general law shall establish for the   consortium a governing body and any other decision-making body the   legislature determines appropriate to govern the consortium. The   members of the governing body and other decision-making body of the   consortium serve terms of not more than four years.          (d)  The legislature by general law may authorize the Texas   Public Finance Authority to provide for, issue, and sell general   obligation bonds of the State of Texas on behalf of the consortium   in an amount not to exceed $3 billion and to enter into related   credit agreements. The Texas Public Finance Authority may not   issue more than $300 million in bonds authorized by this subsection   in any state fiscal year. The bonds shall be executed in the form,   on the terms, and in the denominations, bear interest, and be issued   in installments as prescribed by the Texas Public Finance   Authority.          (e)  Proceeds from the sale of the bonds shall be deposited   in separate funds or accounts, as provided by general law, within   the state treasury to be used by the consortium to implement this   section.          (f)  Notwithstanding any other provision of this   constitution, the consortium, which is established in state   government, may use the proceeds from bonds issued under Subsection   (d) of this section and any federal or private grants and gifts to:                (1)  provide grants for the purposes described by   Subsection (b)(1) of this section;                (2)  purchase, subject to approval by the governing   body and any other decision-making body of the consortium, research   and laboratory facilities by or on behalf of a grant recipient; and                (3)  operate the consortium.          (g)  The proceeds from bonds issued under Subsection (d) of   this section may be used to pay the costs of issuing the bonds and   any administrative expense related to the bonds.          (h)  While any bond or interest on a bond authorized by this   section is outstanding and unpaid, from the first money deposited   to the state treasury in each state fiscal year not otherwise   appropriated by this constitution, an amount sufficient to pay the   principal of and interest on bonds that mature or become due during   the year and to make payments that become due under a related credit   agreement during the year is appropriated for purposes of this   section, less the amount in the sinking fund at the close of the   previous state fiscal year.          (i)  A bond issued under this section, after approval by the   attorney general, registration by the comptroller of public   accounts, and delivery to the purchasers, is incontestable and is a   general obligation of this state under this constitution.          (j)  Before the consortium may make a grant of any proceeds   of bonds issued under this section, the recipient of the grant must   have an amount of money equal to one-half the amount of the grant   dedicated to the research that is the subject of the grant request.          (k)  The Texas Public Finance Authority shall consider using   a business whose principal place of business is located in this   state to issue the bonds authorized by this section, including   using a historically underutilized business as defined by general   law.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 2, 2021.   The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment providing for the   establishment of the Texas Research Consortium to Cure Infectious   Diseases (TRANSCEND) and authorizing the issuance of up to $3   billion in general obligation bonds to fund collaborative research   on and development of infectious disease treatments and cures for   humans."