Bill > HJR35

This joint resolution proposes a constitutional amendment to create the Grow Texas fund, a new state fund designed to support infrastructure in oil and gas-producing regions of Texas. The amendment modifies existing constitutional provisions to require the comptroller to transfer 12% less to the economic stabilization fund and redirect that amount (up to $250 million per state fiscal biennium) to the new Grow Texas fund. The fund will be comprised of transferred general revenues, legislative appropriations, federal funds, gifts, and investment earnings. Money from the Grow Texas fund can only be used for infrastructure needs in areas significantly affected by oil and gas production, with appropriations made through grants to state agencies and political subdivisions. A seven-member Grow Texas fund commission will be established to administer the fund and advise the legislature, with members appointed by the lieutenant governor, house speaker, and governor. The amendment is set to take effect on September 1, 2027, and will be submitted to Texas voters for approval at an election on November 4, 2025. Any unobligated funds at the end of each biennium will be transferred to the economic stabilization fund.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR35