83S20018 CJC-D
By: Harper-Brown H.B. No. 8
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of certain motor vehicle sales, use, and
rental 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, in each state
fiscal year beginning on or after September 1, 2015, the
comptroller shall deposit to the credit of the state highway fund an
amount of money that is equal to 33-1/3 percent of the money that:
(1) is received under Sections 152.043, 152.045,
152.047, and 152.121 and is remaining after the comptroller makes
the allocation required by Section 152.1222; and
(2) exceeds the first $2.8 billion of money described
by Subdivision (1) that is received in that fiscal year.
(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;
(2) to repay the principal and interest on general
obligation bonds issued as authorized by Section 49-p, Article III,
Texas Constitution; or
(3) to pay for a function performed by or under the
supervision of the Texas Department of Transportation.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect on the 91st day after the last day of the
legislative session.