March 6, 2003

SENATE FLOOR AMENDMENT number ___1___ to SENATE FLOOR SUBSTITUTE FOR SENATE JOINT RESOLUTION 6

Amendment sponsored by Senator Manny M. Aragon

1. On page 3, lines 15 and 16, strike "four and seven-tenths" and insert in lieu thereof "five".

2. On page 3, line 19 through page 4, line 1, strike Subsection G in its entirety and insert in lieu thereof the following new subsection:

"G. In addition to the annual distribution made pursuant to Subsection F of this section, unless suspended pursuant to Subsection H of this section, an additional annual distribution shall be made pursuant to the following schedule; provided that no distribution shall be made pursuant to the provisions of this subsection in any fiscal year if the average of the year-end market values of the fund for the immediately preceding five calendar years is less than five billion eight hundred million dollars ($5,800,000,000):

(1) in fiscal years 2005 through 2012, an amount equal to eight-tenths percent of the average of the year-end market values of the fund for the immediately preceding five calendar years; provided that any additional distribution from the permanent school fund pursuant to this paragraph shall be used to implement and maintain educational reforms as provided by law; and

(2) in fiscal years 2013 through 2016, an amount equal to one-half percent of the average of the year-end market values of the fund for the immediately preceding five calendar years.

H. The legislature, by a three-fifths' vote of the members elected to each house, may suspend any additional distribution provided for in Subsection G of this section."".

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Manny M. Aragon

Adopted ___________________ Not Adopted _____________________

 (Chief Clerk) (Chief Clerk)

Date _________________