By: Harper-Brown H.B. No. 2904
A BILL TO BE ENTITLED
AN ACT
relating to the allocation to the state highway fund of certain
revenue from the taxes imposed on the sale, rental, or use of motor
vehicles.
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. Subject to Section
152.1222, in each state fiscal year the [The] comptroller shall
deposit the funds received under Section 152.121 [of this code] as
follows:
(1) the amount of the first funds received under
Section 152.121 [1/4] to the credit of the general revenue
[foundation school] fund, but not to exceed the amount deposited to
the general revenue fund under this section in the state fiscal year
ending August 31, 2013; and
(2) 50 percent of the excess amount [funds] to the
credit of the state highway [general revenue] fund; and
(3) 50 percent of the excess amount to the credit of
the general revenue fund.
SECTION 2. In addition to the substantive changes made by
this Act, this Act conforms Section 152.122, Tax Code, to the method
of allocating motor vehicle sales and use taxes in effect before the
effective date of this Act. Section 11.04, Chapter 4 (S.B. 3), Acts
of the 72nd Legislature, 1st Called Session, 1991, enacted former
Section 403.094(h), Government Code, which abolished certain state
fund dedications and resulted in the abolition of the allocation to
the foundation school fund effective August 31, 1995.
SECTION 3. This Act takes effect September 1, 2013.