83R9427 JAM-F
By: McClendon H.B. No. 1878
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of certain revenue to the Texas rail
relocation and improvement fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 152.122, Tax Code, is amended to read as
follows:
Sec. 152.122. ALLOCATION OF TAX. The comptroller shall
deposit the funds received under Section 152.121 of this code as
follows:
(1) 1/4 to the credit of the foundation school fund;
[and]
(2) from the funds not deposited as provided by
Subdivision (1), $25 million each state fiscal year to the credit of
the Texas rail relocation and improvement fund under Section 49-o,
Article III, Texas Constitution; and
(3) after the amount required to be deposited under
Subdivision (2) has been deposited, the remaining funds to the
credit of the general revenue fund.
SECTION 2. This Act takes effect September 1, 2013.