2017S0368-1 03/02/17     By: Perry S.J.R. No. 46       JOINT RESOLUTION   proposing a constitutional amendment to set aside general revenue   as dedicated to pay for certain state infrastructure projects.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article III, Texas Constitution, is amended by   adding Section 50-h to read as follows:          Sec. 50-h.  (a)  The state infrastructure endowment fund is   a fund created outside the state treasury.          (b)  Not later than the 90th day of each state fiscal year,   the comptroller of public accounts shall transfer from the general   revenue fund to the credit of the state infrastructure endowment   fund an amount equal to one-quarter of one percent of all general   revenue that:                (1)  came into the state treasury during the preceding   state fiscal year; and                (2)  is not otherwise dedicated by or appropriated by   this constitution.          (c)  Notwithstanding Subsection (b) of this section, the   legislature by general law may provide for a percentage different   from the percentage provided by that subsection. The percentage   may not be less than one-quarter of one percent or more than one   percent of the general revenue described by Subsection (b) of this   section.          (d)  Except as provided by Subsection (f) of this section,   money transferred to the credit of the state infrastructure   endowment fund under this section and interest or other earnings on   that money shall be administered, without further appropriation, by   the Texas Treasury Safekeeping Trust Company or that company's   successor in function and shall be used only to:                (1)  make payments of principal or interest on state   bonds the proceeds of which were used to pay for projects to repair,   renovate, rehabilitate, or construct state infrastructure other   than transportation infrastructure and higher education   facilities; or                (2)  make payments under a credit agreement related to   bonds described by Subdivision (1) of this subsection.          (e)  For purposes of Subsection (d) of this section:                (1)  "Transportation infrastructure" means roads,   streets, ways, bridges, or culverts.                (2)  "Higher education facilities" means property,   buildings, structures, or other facilities used or intended to be   used by a public institution of higher education.          (f)  The Texas Treasury Safekeeping Trust Company or that   company's successor in function shall retain in the state   infrastructure endowment fund a minimum balance of 95 percent of   the corpus of the fund.          (g)  This subsection and Subsections (b) and (c) of this   section expire August 31, 2027.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 7, 2017.   The ballot shall be printed to permit voting for or against the   proposition:  "The constitutional amendment to set aside general   revenue as dedicated to pay for certain state infrastructure   projects."