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.
Impact
If enacted, SB5 would have a significant impact on state funding for transportation initiatives. By ensuring that additional motor vehicle tax revenues are allocated specifically to the state highway fund, the bill seeks to bolster resources available for road maintenance and development. This change would help address the growing infrastructure needs in Texas, which has witnessed increased vehicle registration and road usage in recent years.
Summary
Senate Bill 5, also known as the Allocation of Motor Vehicle Tax Revenue Bill, aims to redirect a portion of motor vehicle sales, use, and rental tax revenue to the state highway fund. Specifically, the bill stipulates that revenue exceeding $2.5 billion received in a state fiscal year will be divided between the state highway fund and the general revenue fund. The measure is designed to ensure that funds are available for critical infrastructure projects, including construction and maintenance of public roadways, excluding toll roads.
Sentiment
The sentiment surrounding SB5 tends to be supportive among those focused on infrastructure improvement and public safety. Proponents argue that the bill is essential for enhancing transportation efficiency and addressing the backlog of road maintenance projects across the state. However, critics remain concerned about the broader implications of diverting funds from the general revenue, arguing that it could limit funding availability for other critical state services or initiatives.
Contention
Debate around SB5 centers on the allocation of state resources and the potential consequences of prioritizing highway funding over other public needs. Some lawmakers express concern that the bill could lead to insufficient funding for education, health services, and public safety, as a significant portion of tax revenues would be earmarked solely for transportation purposes. This contention highlights the ongoing struggle within state politics to balance infrastructure development with the demand for comprehensive social services.
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.
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 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.
Extending the duty of the comptroller of public accounts under Section 7-c, Article VIII, Texas Constitution, to deposit certain tax revenue to 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 allocation of certain constitutional transfers of money to the economic stabilization fund, the state highway fund, and the Grow Texas fund and to the permissible uses of money deposited to the Grow Texas 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 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.
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.