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Texas Proposition 3, Texas Growth Fund (1988)

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Texas Constitution
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Preamble
Articles
12
3 (1-43)3 (44-49)3 (50-67)
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Texas Proposition 3 was on the November 3, 1988 statewide ballot in Texas as a legislatively-referred constitutional amendment, where it was adopted.

Election results

Proposition 3
ResultVotesPercentage
Approveda Yes 2,585,280 63.4%
No1,492,07836.6%

Text of measure

The short ballot summary Texas voters saw on their ballot was "The constitutional amendment to provide for the investment of the permanent university fund, the permanent school fund, and the public employee retirement systems in the Texas growth fund created by the amendment, which will directly create, retain, and expand job opportunity and economic growth in Texas."[1]

Constitutional changes

Prop 3 amended Sections 5 and 11b of Article 7 and added Section 70 to Article 16 of the Texas Constitution.

Path to the ballot

See also: Laws governing direct democracy in Texas

As laid out in Article 17 of the Texas Constitution, in order for a proposed constitutional amendment to be placed on the ballot, the Texas State Legislature must propose the amendment in a joint resolution of both the Texas State Senate and the Texas House of Representatives. The joint resolution can originate in either the House or the Senate. The resolution must be adopted by a vote of at least two-thirds of the membership of each house of the legislature. That amounts to a minimum of 100 votes in the House of Representatives and 21 votes in the Senate.

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References