H.J.R. No. 3       A JOINT RESOLUTION   proposing a constitutional amendment relating to the Texas   University Fund, which provides funding to certain institutions of   higher education to achieve national prominence as major research   universities and drive the state economy.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 49-g, Article III, Texas Constitution,   is amended by adding Subsections (p) and (q) to read as follows:          (p)  On the first business day occurring on or after the 90th   day of each state fiscal year, an amount equal to the interest   income, dividends, and investment earnings attributable to the   economic stabilization fund for the preceding state fiscal year,   not to exceed the amount determined under Subsection (q) of this   section, is appropriated from the economic stabilization fund to   the comptroller of public accounts for the purpose of immediate   deposit to the credit of the Texas University Fund.  For purposes of   this subsection, the amount of interest income, dividends, and   investment earnings attributable to the economic stabilization   fund for a state fiscal year is computed by:                (1)  determining the amount of interest and dividends   due to the fund for that fiscal year, including any interest   credited to general revenue under Subsection (i) of this section;                (2)  adding to the amount determined under Subdivision   (1) of this subsection an amount equal to the increase, if any, in   the fair market value of the fund between the last day of that   fiscal year and the last day of the preceding state fiscal year; and                (3)  subtracting from the amount determined under   Subdivision (2) of this subsection the amount of any expenses of   managing the investments of money in the fund that are paid from the   fund during that fiscal year.          (q)  The amount of the appropriation made under Subsection   (p) of this section may not exceed:                (1)  for the state fiscal year beginning September 1,   2023, $100 million; or                 (2)  for a state fiscal year beginning on or after   September 1, 2024, the amount determined under this subsection for   the preceding state fiscal year adjusted by the increase, if any, in   the general price level during the preceding state fiscal year, as   determined by the comptroller of public accounts on the basis of   changes in the consumer price index published by the Bureau of Labor   Statistics of the United States Department of Labor or a successor   agency and not to exceed two percent per state fiscal year.          SECTION 2.  Section 20, Article VII, Texas Constitution, is   amended by amending Subsections (a) and (g) and adding Subsection   (i) to read as follows:          (a)  There is established the Texas University Fund   [national research university fund] for the purpose of providing a   dedicated, independent, and equitable source of funding to enable   emerging research universities in this state to achieve national   prominence as major research universities.          (g)  The legislature shall establish criteria by which a   state university may become eligible to receive a portion of the   distributions from the fund.  A state university that is entitled to   participate in dedicated funding provided by Section 18 of this   article is [becomes eligible to receive a portion of the   distributions from the fund in a state fiscal biennium remains   eligible to receive additional distributions from the fund in any   subsequent state fiscal biennium.  The University of Texas at   Austin and Texas A&M University are] not eligible to receive money   from the fund.          (i)  For purposes of Section 22, Article VIII, of this   constitution:                (1)  money in the fund is dedicated by this   constitution; and                (2)  an appropriation of state tax revenues for the   purpose of depositing money to the credit of the fund is treated as   if it were an appropriation of revenues dedicated by this   constitution.          SECTION 3.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 7, 2023.   The ballot shall be printed to permit voting for or against the   proposition:  "The constitutional amendment relating to the Texas   University Fund, which provides funding to certain institutions of   higher education to achieve national prominence as major research   universities and drive the state economy."       ______________________________ ______________________________      President of the Senate Speaker of the House                   I certify that H.J.R. No. 3 was passed by the House on April   17, 2023, by the following vote:  Yeas 133, Nays 9, 1 present, not   voting; that the House refused to concur in Senate amendments to   H.J.R. No. 3 on May 23, 2023, by a non-record vote and requested the   appointment of a conference committee to consider the differences   between the two houses; and that the House adopted the conference   committee report on H.J.R. No. 3 on May 28, 2023, by the following   vote:  Yeas 110, Nays 30, 1 present, not voting.     ______________________________   Chief Clerk of the House               I certify that H.J.R. No. 3 was passed by the Senate, with   amendments, on May 9, 2023, by the following vote:  Yeas 30, Nays 1;   at the request of the House, the Senate appointed a conference   committee to consider the differences between the two houses; and   that the Senate adopted the conference committee report on H.J.R.   No. 3 on May 27, 2023, by the following vote:  Yeas 30, Nays 1.     ______________________________   Secretary of the Senate      RECEIVED: __________________                   Date                       __________________            Secretary of State