| 1 | 1 | | 84R12039 CBH-D |
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| 2 | 2 | | By: Landgraf H.B. No. 3825 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the allocation of a portion of certain severance tax |
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| 8 | 8 | | revenue to the transportation infrastructure fund. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 201.404, Tax Code, is amended to read as |
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| 11 | 11 | | follows: |
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| 12 | 12 | | Sec. 201.404. ALLOCATION OF REVENUE. After deducting the |
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| 13 | 13 | | amount required to be deposited by Section 201.403 [of this code], |
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| 14 | 14 | | the comptroller shall deposit [one-fourth of] the revenue collected |
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| 15 | 15 | | from the tax imposed by this chapter as follows: |
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| 16 | 16 | | (1) 25 percent to the credit of the foundation school |
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| 17 | 17 | | fund; |
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| 18 | 18 | | (2) 7.5 percent to the credit of the transportation |
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| 19 | 19 | | infrastructure fund established under Subchapter C, Chapter 256, |
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| 20 | 20 | | Transportation Code; and |
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| 21 | 21 | | (3) the remainder [three-fourths] to the credit of the |
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| 22 | 22 | | general revenue fund. |
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| 23 | 23 | | SECTION 2. Section 202.353, Tax Code, is amended to read as |
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| 24 | 24 | | follows: |
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| 25 | 25 | | Sec. 202.353. ALLOCATION OF REVENUE. After deducting the |
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| 26 | 26 | | amount required to be deposited by Section 202.352 [of this code], |
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| 27 | 27 | | the comptroller shall deposit [one-fourth of] the revenue collected |
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| 28 | 28 | | from the tax imposed by this chapter as follows: |
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| 29 | 29 | | (1) 25 percent to the credit of the foundation school |
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| 30 | 30 | | fund; |
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| 31 | 31 | | (2) 7.5 percent to the credit of the transportation |
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| 32 | 32 | | infrastructure fund established under Subchapter C, Chapter 256, |
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| 33 | 33 | | Transportation Code; and |
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| 34 | 34 | | (3) the remainder to the credit of [three-fourths to] |
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| 35 | 35 | | the general revenue fund. |
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| 36 | 36 | | SECTION 3. Section 203.152, Tax Code, is amended to read as |
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| 37 | 37 | | follows: |
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| 38 | 38 | | Sec. 203.152. ALLOCATION OF REVENUE. The [One-fourth of |
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| 39 | 39 | | the] revenue collected from the tax imposed by this chapter shall be |
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| 40 | 40 | | deposited as follows: |
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| 41 | 41 | | (1) 25 percent to the credit of the foundation school |
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| 42 | 42 | | fund; |
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| 43 | 43 | | (2) 7.5 percent to the credit of the transportation |
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| 44 | 44 | | infrastructure fund established under Subchapter C, Chapter 256, |
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| 45 | 45 | | Transportation Code; and |
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| 46 | 46 | | (3) the remainder [three-fourths] to the credit of the |
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| 47 | 47 | | general revenue fund. |
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| 48 | 48 | | SECTION 4. This Act takes effect September 1, 2015. |
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