Dive summary:

• In an action that is good news for highway construction companies that work in the Lone State State, the Texas Legislature has approved a constitutional amendment to divert $1.2 billion annually to road construction and away from the state's Rainy Day Fund.
• The money would come from oil and gas revenues the state collects if voters approve the amendment in a vote next year.
• The $1.2 billion certainly is better than no extra funding, but some experts argued that the state really needs $4 billion more a year for its highways.

From the article:

Lt. Gov. David Dewhurst: " This legislation does not raise taxes, yet it protects a healthy balance for future fiscal challenges, and divides future revenues between the Rainy Day Fund and the Highway Fund." ...