By: Pickett H.B. No. 4115
A BILL TO BE ENTITLED
AN ACT
rel
ating to the Texas Department of Motor Vehicles fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. On September 1, 2015, the Texas Department of
Motor Vehicles fund created by Section 1001.151, Transportation
Code, as enacted by Section 71, Chapter 1287 (H.B. 2202), Acts of
the 83rd Legislature, Regular Session, 2013, is re-created by this
Act as a special fund in the state treasury outside the general
revenue fund, and all revenue dedicated for deposit to the credit of
the Texas Department of Motor Vehicles fund by a provision of
Chapter 1287 (H.B. 2202), Acts of the 83rd Legislature, Regular
Session, 2013, is rededicated by this Act for that purpose.
SECTION 2. (a) On September 1, 2015, the comptroller shall
transfer to the credit of the Texas Department of Motor Vehicles
fund, as re-created by this Act, an amount from the state highway
fund equal to the total amount of fees collected or received by the
Texas Department of Motor Vehicles under Section 502.356,
Transportation Code, and former Section 502.1705, Transportation
Code, during the period beginning November 1, 2009, and ending
August 31, 2013.
(b) To the extent that money from the state highway fund
transferred to the credit of the Texas Department of Motor Vehicles
fund as required by Subsection (a) of this section was, before
September 1, 2013, used as collateral or as a source of payment for
the repayment of a loan, bond, credit agreement, public security,
or other obligation, that amount remains subject to use as
collateral or as a source of payment for the obligation. However,
an obligation described by this subsection must be paid first from
the state highway fund, and the Texas Department of Motor Vehicles
fund is subject to payment of the obligation only to the extent the
state highway fund is depleted at the time the obligation matures
and becomes due.
SECTION 3. Except as specified by Section 2 of this Act, of
the revenue dedicated for deposit to the credit of the Texas
Department of Motor Vehicles fund by a provision of Chapter 1287
(H.B. 2202), Acts of the 83rd Legislature, Regular Session, 2013,
the comptroller shall deposit to the credit of that fund only
revenue received on or after the effective date of this Act.
SECTION 4. This Act takes effect September 1, 2015.