Bill > HJR57

This joint resolution proposes a constitutional amendment that modifies how certain general revenue funds are handled when the state's economic stabilization fund (also known as the "rainy day fund") reaches its statutory limit. Specifically, when the comptroller prevents the economic stabilization fund from exceeding its biennial limit by reducing transfers or crediting interest back to general revenue, an equivalent amount of money will be transferred to the property tax relief fund. These transferred funds can only be used to reduce school district maintenance and operations ad valorem taxes (property taxes). The amendment would take effect on January 1, 2026, and includes a sunset provision that expires on January 1, 2027. The proposed amendment will be submitted to Texas voters for approval at the November 4, 2025 election, with the ballot language clearly stating its purpose of dedicating general revenue to reducing school property taxes. The resolution aims to provide additional property tax relief by redirecting funds that would otherwise be held in the state's economic stabilization fund.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR57