SJR80 - Proposing a constitutional amendment dedicating some of the interest in the permanent school fund to universal pre-kindergarten and the school safety allotment.

      By: Gutierrez S.J.R. No. 80                 SENATE JOINT RESOLUTION   proposing a constitutional amendment dedicating some of the   interest in the permanent school fund to universal pre-kindergarten   and the school safety allotment.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article VII, Section 5(a), of the Texas   Constitution is amended to read as follows:          Sec. 5.  Sec. 5. PERMANENT SCHOOL FUND AND AVAILABLE SCHOOL   FUND: COMPOSITION, MANAGEMENT, USE, AND DISTRIBUTION. (a) The   permanent school fund consists of all land appropriated for public   schools by this constitution or the other laws of this state, other   properties belonging to the permanent school fund, and all revenue   derived from the land or other properties. The available school   fund consists of the distributions made to it from the total return   on all investment assets of the permanent school fund, the taxes   authorized by this constitution or general law to be part of the   available school fund, and appropriations made to the available   school fund by the legislature. The total amount distributed from   the permanent school fund to the available school fund:                (1)  in each year of a state fiscal biennium must be an   amount that is not more than six percent of the average of the   market value of the permanent school fund, excluding real property   belonging to the fund that is managed, sold, or acquired under   Section 4 of this article, but including discretionary real assets   investments and cash in the state treasury derived from property   belonging to the fund, on the last day of each of the 16 state fiscal   quarters preceding the regular session of the legislature that   begins before that state fiscal biennium, in accordance with the   rate adopted by:                      (A)  a vote of two-thirds of the total membership   of the State Board of Education, taken before the regular session of   the legislature convenes; or                      (B)  the legislature by general law or   appropriation, if the State Board of Education does not adopt a rate   as provided by Paragraph (A) of this subdivision; and                (2)  over the 10-year period consisting of the current   state fiscal year and the nine preceding state fiscal years may not   exceed the total return on all investment assets of the permanent   school fund over the same 10-year period.                (3)   Fifty percent of the total amount distributed   under this subsection shall be dedicated to funding the school   safety allotment as established by general law and universal   pre-kindergarten programs in the State of Texas.          This proposed constitutional amendment shall be submitted to   the voters at an election to be held November 4, 2025. The ballot   shall be printed to permit voting for or against the proposition:   "The constitutional amendment providing for the use of the   permanent school fund to be used for school safety and universal   pre-kindergarten program."