Bill Text: TX HB1370 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the allocation of certain motor vehicle sales tax revenue to the state highway fund and to the uses of that revenue.
Spectrum: Partisan Bill (Republican 24-0)
Status: (Introduced - Dead) 2015-04-09 - Left pending in committee [HB1370 Detail]
Download: Texas-2015-HB1370-Introduced.html
| 84R3131 CJC-D | ||
| By: Phillips | H.B. No. 1370 | |
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| relating to the allocation of certain motor vehicle sales tax | ||
| revenue to the state highway fund and to the uses of that revenue. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter G, Chapter 152, Tax Code, is amended | ||
| by adding Section 152.1223 to read as follows: | ||
| Sec. 152.1223. ALLOCATION OF CERTAIN TAX REVENUE TO STATE | ||
| HIGHWAY FUND. (a) Notwithstanding Section 152.122, in each state | ||
| fiscal year beginning on or after September 1, 2017, the | ||
| comptroller shall deposit to the credit of the state highway fund | ||
| all money that: | ||
| (1) is received under Sections 152.047 and 152.121, is | ||
| derived from the tax imposed under Section 152.021, and is | ||
| remaining after the comptroller makes the allocation required by | ||
| Section 152.1222; and | ||
| (2) exceeds the first $2.5 billion of money described | ||
| by Subdivision (1) that is received in that fiscal year. | ||
| (b) Money deposited to the credit of the state highway fund | ||
| under this section may be appropriated only to: | ||
| (1) construct, maintain, or acquire rights-of-way for | ||
| public roadways other than toll roads; or | ||
| (2) repay the principal and interest on general | ||
| obligation bonds issued as authorized by Section 49-p, Article III, | ||
| Texas Constitution. | ||
| SECTION 2. This Act takes effect September 1, 2015. | ||
