82R11698 KLA-D
By: Ogden S.J.R. No. 30
A JOINT RESOLUTION
proposing a constitutional amendment dedicating certain revenue
derived from any increases in taxes on motor fuel to the repayment
of certain transportation-related state debt.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article VIII, Texas Constitution, is amended by
adding Section 7-c to read as follows:
Sec. 7-c. Notwithstanding Section 7-a of this article, the
net revenue derived from the portions of the rates of the taxes
imposed on gasoline and diesel fuel used to propel motor vehicles
over public roadways that exceed the rates of the taxes imposed on
January 1, 2011, but not to exceed a portion of the rates equal to
five cents, for each net gallon or fractional part on which the
taxes are imposed, shall be allocated to a separate account in the
state highway fund. Interest earned on the account shall be
credited to the account. Revenue allocated to the account in the
state highway fund under this section and interest on the revenue
may be appropriated only to repay the principal of and interest on:
(1) notes issued and loans obtained as authorized by
Section 49-m, Article III, of this constitution; and
(2) bonds and other public securities issued, and bond
enhancement agreements entered into, as authorized by Section 49-n,
Article III, of this constitution, as added by H.J.R. 28, Acts of
the 78th Legislature, Regular Session, 2003.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 8, 2011.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment dedicating certain
revenue derived from future increases in gasoline and diesel fuel
taxes, if any, to the repayment of certain existing and future
transportation-related state debt."