Bill Text: TX HB313 | 2017 | 85th Legislature 1st Special Session | Introduced
Bill Title: Relating to allocating a portion of oil and gas production tax revenue to the counties from which the oil and gas originated.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2017-07-25 - Referred to Ways & Means [HB313 Detail]
Download: Texas-2017-HB313-Introduced.html
| 85S10503 ADM-D | ||
| By: White | H.B. No. 313 | |
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| relating to allocating a portion of oil and gas production tax | ||
| revenue to the counties from which the oil and gas originated. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 201.404, Tax Code, is amended to read as | ||
| follows: | ||
| Sec. 201.404. ALLOCATION OF REVENUE. After deducting the | ||
| amount required to be deposited by Section 201.403 [ |
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| the comptroller shall deposit [ |
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| from the tax imposed by this chapter as follows: | ||
| (1) 25 percent to the credit of the foundation school | ||
| fund; | ||
| (2) two percent to the credit of the trust fund created | ||
| under Section 205.001, to be disbursed to counties for the purposes | ||
| and in the manner provided by that section; and | ||
| (3) the remainder [ |
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| revenue fund. | ||
| SECTION 2. Section 202.353, Tax Code, is amended to read as | ||
| follows: | ||
| Sec. 202.353. ALLOCATION OF REVENUE. After deducting the | ||
| amount required to be deposited by Section 202.352 [ |
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| the comptroller shall deposit [ |
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| from the tax imposed by this chapter as follows: | ||
| (1) 25 percent to the credit of the foundation school | ||
| fund; | ||
| (2) two percent to the credit of the trust fund created | ||
| under Section 205.001, to be disbursed to counties for the purposes | ||
| and in the manner provided by that section; and | ||
| (3) the remainder [ |
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| revenue fund. | ||
| SECTION 3. Subtitle I, Title 2, Tax Code, is amended by | ||
| adding Chapter 205 to read as follows: | ||
| CHAPTER 205. SEVERANCE TAX TRUST FUND | ||
| Sec. 205.001. TRUST FUND FOR REVENUE FROM SEVERANCE TAXES | ||
| FOR COUNTIES. (a) The comptroller shall deposit the following in a | ||
| trust fund outside the state treasury to be held with the | ||
| comptroller in trust: | ||
| (1) the revenue collected from the gas production tax | ||
| as specified by Section 201.404(2); and | ||
| (2) the revenue collected from the oil production tax | ||
| as specified by Section 202.353(2). | ||
| (b) The comptroller shall: | ||
| (1) administer the fund as trustee on behalf of each | ||
| county in this state; and | ||
| (2) send to the county treasurer payable to the county | ||
| the county's share of the revenue in the trust fund as provided by | ||
| this section. | ||
| (c) Each county's share of the revenue in the trust fund is | ||
| equal to the amount of revenue in the trust fund that is | ||
| attributable to gas production and oil production in that county. | ||
| (d) The comptroller shall remit to a county the county's | ||
| share of the revenue in the trust fund not later than the 90th day | ||
| after the last day of the calendar month during which the revenue | ||
| was deposited in the trust fund. | ||
| (e) A county may use money received under this section only | ||
| to supplement the construction and maintenance of county roads and | ||
| bridges that are impacted by oil and gas exploration and production | ||
| activities. | ||
| SECTION 4. The changes in law made by this Act apply only to | ||
| tax revenue collected under Chapters 201 and 202, Tax Code, from oil | ||
| and gas produced on or after the effective date of this Act. Tax | ||
| revenue collected under Chapters 201 and 202, Tax Code, from oil and | ||
| gas produced before that date is governed by the law in effect at | ||
| the time the oil and gas was produced, and that law is continued in | ||
| effect for that purpose. | ||
| SECTION 5. This Act takes effect September 1, 2019. | ||
