89R4441 CS-D     By: Creighton S.B. No. 319       A BILL TO BE ENTITLED   AN ACT   relating to dedicating certain state revenue to the purpose of   retiring state debt.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter F, Chapter 403, Government Code, is   amended by adding Section 403.098 to read as follows:          Sec. 403.098.  ALLOCATIONS FOR STATE DEBT RETIREMENT. (a)   The state debt retirement account is an account in the general   revenue fund administered by the comptroller.          (b)  Each time the comptroller, as provided by Section   49-g(b) or (c), Article III, Texas Constitution, reduces an amount   of general revenue that otherwise is to be transferred to the   economic stabilization fund, the comptroller shall allocate to the   credit of the state debt retirement account an amount of general   revenue equal to the amount by which the comptroller reduced the   amount of the transfer to the economic stabilization fund.          (c)  Each time the comptroller, as provided by Section   49-g(i), Article III, Texas Constitution, credits to general   revenue an amount of interest otherwise due to the economic   stabilization fund, the comptroller shall credit that amount to the   state debt retirement account.          (d)  Except as provided by Subsection (f), money allocated or   credited to the state debt retirement account under this section   may be appropriated only to pay the principal of or interest on   state bonds, notes, or other obligations.          (e)  At any time there is no outstanding amount of principal   or interest owed on a state bond, note, or other obligation, the   comptroller:                (1)  shall allocate to the nondedicated portion of the   general revenue fund any remaining balance of money allocated or   credited to the state debt retirement account under this section;   and                (2)  may not make an allocation or credit money as   otherwise required by Subsection (b) or (c).          (f)  Money allocated as provided by Subsection (e)(1) may be   appropriated for any general governmental purpose.          SECTION 2.  This Act takes effect September 1, 2025.