Bill Text: TX SB523 | 2011-2012 | 82nd Legislature | Introduced

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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 1-0)

Status: (Introduced - Dead) 2011-02-17 - Referred to Finance [SB523 Detail]

Download: Texas-2011-SB523-Introduced.html

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82R7762 CJC-D
By: Nichols S.B. No. 523

A BILL TO BE ENTITLED
AN ACT
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, the
comptroller shall deposit to the credit of the state highway fund
the following percentages of the money received under Section
152.121 that is derived from the tax imposed under Section 152.021
and is remaining after the comptroller makes the allocation
required by Section 152.1222:
(1) in the state fiscal year beginning September 1,
2013, 10 percent of the remaining amount;
(2) in the state fiscal year beginning September 1,
2014, 20 percent of the remaining amount;
(3) in the state fiscal year beginning September 1,
2015, 30 percent of the remaining amount;
(4) in the state fiscal year beginning September 1,
2016, 40 percent of the remaining amount;
(5) in the state fiscal year beginning September 1,
2017, 50 percent of the remaining amount;
(6) in the state fiscal year beginning September 1,
2018, 60 percent of the remaining amount;
(7) in the state fiscal year beginning September 1,
2019, 70 percent of the remaining amount;
(8) in the state fiscal year beginning September 1,
2020, 80 percent of the remaining amount;
(9) in the state fiscal year beginning September 1,
2021, 90 percent of the remaining amount; and
(10) in state fiscal years beginning on or after
September 1, 2022, 100 percent of the remaining amount.
(b) Money deposited to the credit of the state highway fund
under this section may be appropriated only for the purposes
specified by Section 7-d(a), Article VIII, Texas Constitution.
SECTION 2. This Act takes effect September 1, 2011.