H.J.R. No. 37

A JOINT RESOLUTION 

proposing a constitutional amendment relating to legislative authority to permit credit unions and other financial institutions to award prizes by lot to promote savings.

 

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS

SECTION 1.  Section 47, Article III, Texas Constitution, is amended by adding Subsection (d-2) to read as follows

(d-2)  Subsection (a) of this section does not prohibit the legislature from authorizing credit unions and other financial institutions to conduct, under the terms and conditions imposed by general law, promotional activities to promote savings in which prizes are awarded to one or more of the credit union’s or financial institution’s depositors selected by lot

SECTION 2.  This proposed constitutional amendment shall be submitted to the voters at an election to be held November 7, 2017.  The ballot shall be printed to permit voting for or against the proposition: “The constitutional amendment relating to legislative authority to permit credit unions and other financial institutions to award prizes by lot to promote savings.”