88R20126 DIO-F     By: Ashby, et al. H.J.R. No. 125     Substitute the following for H.J.R. No. 125:     By:  Metcalf C.S.H.J.R. No. 125       A JOINT RESOLUTION   proposing a constitutional amendment creating the broadband   infrastructure fund to assist in the financing of broadband and   telecommunications services projects in the state.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article III, Texas Constitution, is amended by   adding Section 49-d-16 to read as follows:          Sec. 49-d-16.  (a) In this section:                 (1)  "Comptroller" means the comptroller of public   accounts of the State of Texas or its successor.                (2)  "Fund" means the broadband infrastructure fund.          (b)  The broadband infrastructure fund is created as a   special fund in the state treasury outside the general revenue   fund.          (c)  The fund consists of:                (1)  appropriations from the legislature for deposit to   the credit of the fund;                (2)  money transferred or deposited to the credit of   the fund by this constitution or by general law;                (3)  revenue that the legislature by general law   dedicates for deposit to the credit of the fund;                (4)  investment earnings and interest earned on money   in the fund; and                (5)  gifts, grants, and donations to the fund.          (d)  Money in the fund shall be administered by the   comptroller. Money from the fund may be used, without further   appropriation, only for the expansion of access to and adoption of   broadband and telecommunications services, including:                (1)  the development, construction, reconstruction,   and expansion of broadband and telecommunications infrastructure   or services;                (2)  the operation of broadband and telecommunications   infrastructure;                (3)  the provision of broadband and telecommunications   services, including services authorized by general law to be funded   by the universal service fund; and                (4)  the reasonable expenses of administering and   managing the investments of the fund.          (e)  The legislature by general law shall provide for the   manner in which the assets of the fund may be used, subject to the   limitations of this section. Money in the fund may be used in   conjunction with other funds or financial resources, including   money from the federal government, in accordance with procedures,   standards, and limitations established by federal law and general   law of this state.          (f)  Not later than January 15, 2024, the comptroller shall   transfer $5 billion from the economic stabilization fund to the   fund.          (g)  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 from the   economic stabilization fund 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.          (h)  Unless extended by adoption of a concurrent resolution   approved by a record vote of two-thirds of the members of each house   of the legislature, this section expires on September 1, 2035. A   resolution suspends the expiration of this section until September   1 of the 10th year following the adoption of the resolution.          (i)  Immediately before the expiration of this section, the   comptroller shall transfer any unexpended and unobligated balance   remaining in the fund to the economic stabilization fund.          SECTION 2.  The following temporary provision is added to   the Texas Constitution:          TEMPORARY PROVISION. (a) This temporary provision applies   to the amendment to Article III of this constitution as proposed by   the 88th Legislature, Regular Session, 2023, creating the broadband   infrastructure fund to assist in the financing of broadband and   telecommunications services projects in the state.          (b)  The change made to Article III of this constitution by   the amendment described in Subsection (a) takes effect January 1,   2024.          (c)  This temporary provision expires January 1, 2025.          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 creating the broadband   infrastructure fund to assist in the financing of broadband and   telecommunications services projects in the state."