83S10187 CJC-D
By: Phillips H.B. No. 29
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,
2015, 10 percent of the remaining amount;
(2) in the state fiscal year beginning September 1,
2016, 20 percent of the remaining amount;
(3) in the state fiscal year beginning September 1,
2017, 30 percent of the remaining amount;
(4) in the state fiscal year beginning September 1,
2018, 40 percent of the remaining amount;
(5) in the state fiscal year beginning September 1,
2019, 50 percent of the remaining amount;
(6) in the state fiscal year beginning September 1,
2020, 60 percent of the remaining amount;
(7) in the state fiscal year beginning September 1,
2021, 70 percent of the remaining amount;
(8) in the state fiscal year beginning September 1,
2022, 80 percent of the remaining amount;
(9) in the state fiscal year beginning September 1,
2023, 90 percent of the remaining amount; and
(10) in each state fiscal year beginning on or after
September 1, 2024, 100 percent of the remaining amount.
(b) Money deposited to the credit of the state highway fund
under this section may be appropriated only:
(1) for a purpose authorized by Section 7-a, Article
VIII, Texas Constitution; or
(2) to repay the principal and interest on general
obligation bonds issued as authorized by Section 49-p, Article III,
Texas Constitution.
SECTION 2. This Act takes effect on the 91st day after the
last day of the legislative session.