Relating to the allocation of certain motor vehicle sales tax revenue to the state highway fund and to the uses of that revenue.
Impact
If enacted, HB 1370 would significantly affect financial planning for transportation infrastructure in Texas. By earmarking additional motor vehicle sales tax revenues for highway use, the bill is intended to bolster the state’s capacity to invest in critical road projects without increasing taxes. This would help ensure that the needs for road maintenance and development are met from existing tax revenues, potentially improving the efficiency of transportation funding in the state.
Summary
House Bill 1370 aims to amend the allocation of certain motor vehicle sales tax revenues, specifically directing excess funds to the state highway fund. This change specifies that the funds exceeding $2.5 billion in a fiscal year, derived from specific tax sections, should be deposited to the state highway fund. This fund is then designated for the construction, maintenance, or acquisition of rights-of-way for public roadways, other than toll roads, and to repay principal and interest on authorized general obligation bonds.
Contention
The bill may face legislative scrutiny regarding the appropriate allocation of state revenues and whether concentrating funds in the highway fund limits flexibility in addressing other pressing needs in state or local budgets. Opponents might argue that earmarking such revenues could constrain the state’s ability to address issues in public transit or other infrastructure needs that require funding, particularly in urban areas.
Identical
Relating to the allocation to the state highway fund and the available school fund of certain motor vehicle sales, use, and rental tax revenue and to the uses of the revenue allocated to the state highway fund.
Proposing a constitutional amendment providing for the creation of and use of money in the Grow Texas fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.
Proposing a constitutional amendment creating the state school safety fund to provide ongoing financial support for projects that ensure the safety of public schools in this state and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and the state highway fund.
Relating to the determination of the sufficient balance of the economic stabilization fund for the purpose of allocating general revenue to that fund and the state highway fund.
Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, the property tax relief fund, and the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund and to the permissible uses of money deposited to the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund.
Relating to the determination of the sufficient balance of the economic stabilization fund for the purpose of allocating general revenue to that fund and the state highway fund.
Relating to the allocation and deposit of certain surplus state revenue to the property tax relief fund for use in reducing school district maintenance and operations ad valorem taxes.
Relating to the allocation and deposit of certain surplus state revenue to the property tax relief fund for use in reducing school district maintenance and operations ad valorem taxes.
Relating to the allocation and deposit of certain surplus state revenue to the property tax relief fund for use in reducing school district maintenance and operations ad valorem taxes.
Relating to the amount of the fee imposed on certain sexually oriented businesses that is allocated to the sexual assault program fund and the allocation of certain other revenue to that fund; increasing the amount of a fee.