Proposing a constitutional amendment authorizing the legislature to provide for automatic adjustments of the rates of motor fuels taxes.
Impact
If enacted, this resolution would amend Article VIII of the Texas Constitution by adding Section 7-c, which would explicitly grant the legislature the authority to legislate mechanisms for the automatic adjustment of motor fuels tax rates. This could allow for quicker responses to changes in economic conditions, ensuring that tax rates align more closely with inflation or fluctuations in the cost of fuel production and distribution.
Summary
SJR8 is a joint resolution proposing a constitutional amendment that would authorize the Texas legislature to provide for automatic adjustments to the rates of motor fuels taxes. The amendment suggests that such adjustments could be made by the comptroller of public accounts based on one or more price or cost indices published by a federal agency. This approach is intended to give the legislature the flexibility to respond to market conditions affecting fuel prices, potentially maintaining more stable revenue from fuel taxes over time.
Contention
One of the notable points of contention surrounding the SJR8 amendment is the debate about automatic tax adjustments. Proponents argue that it would create a more responsive fiscal policy that aligns tax revenue with consumer realities, thereby providing essential funding for transportation and infrastructure projects. However, critics may raise concerns regarding the potential for tax increases without direct voter input, arguing that such a system could lead to decreased transparency and accountability in state taxation policies.
Proposing a constitutional amendment authorizing the 88th Legislature to provide a cost-of-living adjustment to certain annuitants of the Teacher Retirement System of Texas.
Relating to state and municipal motor fuel taxes; providing civil penalties; creating criminal offenses; requiring occupational licenses; authorizing the imposition of taxes; providing for increases and decreases in the rates of taxes.
Proposing a constitutional amendment authorizing the legislature to provide for exceptions to the requirement that a home equity loan be closed only at the office of the lender, an attorney at law, or a title company.