(a) Before the comptroller makes transfers for a state fiscal year in accordance with § 49-g(c), Article III, Texas Constitution, the comptroller shall determine whether the sum of the balance of the fund on the preceding August 31, any projected transfer to the fund under Section 49-g(b) of that article, and any projected transfer to the fund under Section 49-g(c) of that article in accordance with the allocations for the transfer as provided by Section 49-g(c-1) of that article is less than the amount determined under § 316.092 for that state fiscal biennium.
(b) If the sum described by Subsection (a) is less than the amount determined under § 316.092 for that state fiscal biennium, the comptroller shall reduce the allocation to the state highway fund provided by § 49-g(c), Article III, Texas Constitution, and increase the allocation to the economic stabilization fund, in an equal amount, until the amount determined under § 316.092 for that state fiscal biennium would be achieved by the transfer to the fund or the total amount of the sum described by § 49-g(c), Article III, Texas Constitution, is allocated to the fund, whichever occurs first.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Texas Government Code 316.093

  • Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means 12 consecutive months. See Texas Government Code 311.005

(c) For the purposes of § 49-g(c-2), Article III, Texas Constitution, the comptroller shall adjust the allocation provided by Section 49-g(c-1) of that article of amounts to be transferred to the fund and to the state highway fund under Section 49-g(c) of that article in a state fiscal year beginning on or after September 1, 2043, so that the total of those amounts is transferred to the economic stabilization fund, except that the comptroller shall reduce a transfer made under this subsection as necessary to prevent the amount in the fund from exceeding the limit in effect for that biennium under Section 49-g(g) of that article.
(d) Subsections (a) and (b) and this subsection expire December 31, 2042.

For expiration of Subsections (a), (b), and (d), see Subsection (d).
<