Texas 2015 - 84th Regular

Texas Senate Bill SB5 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		By: Nichols, et al. S.B. No. 5
2		-	(In the Senate - Filed February 4, 2015; February 9, 2015,
3		-	read first time and referred to Committee on Transportation;
4		-	March 2, 2015, reported adversely, with favorable Committee
5		-	Substitute by the following vote: Yeas 8, Nays 1; March 2, 2015,
6		-	sent to printer.)
7		-	Click here to see the committee vote
8		-	COMMITTEE SUBSTITUTE FOR S.B. No. 5 By: Nichols
9	2
10	3
11	4		A BILL TO BE ENTITLED
12		-	~~AN ACT~~
13		-	~~relating to the allocation~~ of certain motor vehicle sales, use, and
14		-	rental tax revenue ~~to the state highway fund~~ and to the uses of ~~that~~
15		-	~~revenue~~.
	5	+	relating to the allocation to the state highway fund and the
	6	+	available school fund of certain motor vehicle sales, use, and
	7	+	rental tax revenue and to the uses of the revenue allocated to the
	8	+	state highway fund.
16	9		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
17	10		SECTION 1. Subchapter G, Chapter 152, Tax Code, is amended
18	11		by adding Section 152.1223 to read as follows:
19	12		Sec. 152.1223. ALLOCATION OF CERTAIN TAX REVENUE TO STATE
20	13		HIGHWAY FUND. (a) This section applies only to money that:
21	14		(1) the comptroller receives in a state fiscal year
22	15		that begins on or after September 1, 2017;
23	16		(2) is received under Sections 152.043, 152.045,
24	17		152.047, and 152.121, is derived from the taxes imposed under
25	18		Sections 152.021, 152.022, 152.023, 152.026, and 152.028, and is
26	19		remaining after the comptroller makes the allocation required by
27	20		Section 152.1222; and
28	21		(3) exceeds the first $2.5 billion of the money
29	22		described by Subdivisions (1) and (2) that is received in that state
30	23		fiscal year.
31	24		(b) Notwithstanding Section 152.122, the comptroller shall
32	25		deposit the money to which this section applies as follows:
33	26		(1) the comptroller shall deposit all money received
34	27		to the credit of the state highway fund until a total of $2.5
35	28		billion has been deposited to the fund under this subdivision in the
36	29		state fiscal year; and
37	30		(2) the comptroller shall deposit any additional money
38	31		received in the state fiscal year as follows:
39		-	(A) one-half to the credit of the state highway
40		-	fund; and
41		-	(B) the remainder to the credit of the general
42		-	revenue fund.
	32	+	(A) fifty percent to the credit of the state
	33	+	highway fund;
	34	+	(B) thirty percent to the credit of the general
	35	+	revenue fund; and
	36	+	(C) twenty percent to the credit of the available
	37	+	school fund.
43	38		(c) Money deposited to the credit of the state highway fund
44	39		under this section may be appropriated only to:
45	40		(1) construct, maintain, or acquire rights-of-way for
46	41		public roadways other than toll roads; or
47	42		(2) repay the principal of and interest on general
48	43		obligation bonds issued as authorized by Section 49-p, Article III,
49	44		Texas Constitution.
50	45		SECTION 2. This Act takes effect September 1, 2015.
51		-	* * * * *