| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to amending the portion of the revenue derived from the tax |
|
|
imposed on the sale, use, or rental of a motor vehicle to the state |
|
|
highway fund. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Article VIII, Texas Constitution, is amended by |
|
|
amending Section 7-c(b) to read as follows: |
|
|
(b) Subject to Subsections (d) and (e) of this section, in |
|
|
each state fiscal year, the comptroller of public accounts shall |
|
|
deposit to the credit of the state highway fund an amount equal to |
|
|
75 [35] percent of the net revenue derived from the tax authorized |
|
|
by Chapter 152, Tax Code, or its successor, and imposed on the sale, |
|
|
use, or rental of a motor vehicle that exceeds the first $5 billion |
|
|
of that revenue coming into the treasury in that state fiscal year |
|
|
SECTION 2. This Act takes effect on September 1, 2019. |