HJR 1 would direct the comptroller to allocate to the State Highway Fund (Fund 6) one-half of the general revenue currently transferred to the Rainy Day Fund. The Legislature would, by statute, create a procedure whereby the amount allocated to the Rainy Day Fund could be greater than one-half.
Revenue transferred to Fund 6 could be used only for constructing, maintaining, and acquiring rights-of-way for public roadways other than toll roads.
HJR 1 would take effect immediately upon receiving the necessary approval from voters, and would apply to transfers the comptroller made after September 1, 2014.
The proposal would be presented to the voters at an election on Tuesday, November 4, 2014.
The constitutional amendment providing for the use and dedication of certain money transferred to the state highway fund to assist in the completion of transportation construction, maintenance, and rehabilitation projects, not to include toll roads.