84R12039 CBH-D
By: Landgraf H.B. No. 3825
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of a portion of certain severance tax
revenue to the transportation infrastructure fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 201.404, Tax Code, is amended to read as
follows:
Sec. 201.404. ALLOCATION OF REVENUE. After deducting the
amount required to be deposited by Section 201.403 [of this code],
the comptroller shall deposit [one-fourth of] the revenue collected
from the tax imposed by this chapter as follows:
(1) 25 percent to the credit of the foundation school
fund;
(2) 7.5 percent to the credit of the transportation
infrastructure fund established under Subchapter C, Chapter 256,
Transportation Code; and
(3) the remainder [three-fourths] to the credit of the
general revenue fund.
SECTION 2. Section 202.353, Tax Code, is amended to read as
follows:
Sec. 202.353. ALLOCATION OF REVENUE. After deducting the
amount required to be deposited by Section 202.352 [of this code],
the comptroller shall deposit [one-fourth of] the revenue collected
from the tax imposed by this chapter as follows:
(1) 25 percent to the credit of the foundation school
fund;
(2) 7.5 percent to the credit of the transportation
infrastructure fund established under Subchapter C, Chapter 256,
Transportation Code; and
(3) the remainder to the credit of [three-fourths to]
the general revenue fund.
SECTION 3. Section 203.152, Tax Code, is amended to read as
follows:
Sec. 203.152. ALLOCATION OF REVENUE. The [One-fourth of
the] revenue collected from the tax imposed by this chapter shall be
deposited as follows:
(1) 25 percent to the credit of the foundation school
fund;
(2) 7.5 percent to the credit of the transportation
infrastructure fund established under Subchapter C, Chapter 256,
Transportation Code; and
(3) the remainder [three-fourths] to the credit of the
general revenue fund.
SECTION 4. This Act takes effect September 1, 2015.