State Rep. Myra Crownover, R-Denton, has been named co-chair of the Select Committee to Determine a Sufficient Balance of the Economic Stabilization Fund that will recommend a minimum balance for the state’s Economic Stabilization Fund.
The committee was created by legislation passed in 2013. Its existence is contingent upon voter passage of Proposition 1 in November. If voters approve Proposition 1, the committee will recommend a balance that should be maintained in the Economic Stabilization Fund, better known as the Rainy Day Fund, in the next fiscal biennium.
Crownover was appointed by House Speaker Joe Straus.
Straus also appointed Reps. Patricia Harless of Spring, Abel Herrero of Robstown, John Otto of Dayton and Sylvester Turner of Houston to the committee.
State law calls for the committee to set a sufficient balance by Dec. 1. That recommendation will then go before the full House and Senate in the form of a concurrent resolution early in next year’s legislative session. The House and Senate can adopt that resolution or amend it.
The committee will also include five members of the state Senate, including a co-chair.
— Bj Lewis
