83S20144 CJC-D
By: Frank H.B. No. 38
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of certain revenue from the taxes
imposed on the sale, rental, or use of motor vehicles to the state
highway 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. Subject to Section
152.1222, the [The] comptroller shall deposit the funds received
under Section 152.121 [of this code] as follows:
(1) in the state fiscal year beginning September 1,
2015, 25 percent to the credit of the state highway fund and 75
percent [1/4 to the credit of the foundation school fund; and
[(2) the remaining funds] to the credit of the general
revenue fund;
(2) in the state fiscal year beginning September 1,
2016, 50 percent to the credit of the state highway fund and 50
percent to the credit of the general revenue fund;
(3) in the state fiscal year beginning September 1,
2017, 75 percent to the credit of the state highway fund and 25
percent to the credit of the general revenue fund; and
(4) in state fiscal years beginning on or after
September 1, 2018, 100 percent to the credit of the state highway
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 on the 91st day after the
last day of the legislative session.