Texas 2017 - 85th Regular

Texas House Bill HB4231 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	85R23414 ADM-D
2		-	By: White, et al. H.B. No. 4231
3		-	Substitute the following for H.B. No. 4231:
4		-	By: Shine C.S.H.B. No. 4231
	1	+	85R7652 ADM-D
	2	+	By: White H.B. No. 4231
5	3
6	4
7	5		A BILL TO BE ENTITLED
8	6		AN ACT
9	7		relating to allocating a portion of oil and gas production tax
10	8		revenue to the counties from which the oil and gas originated.
11	9		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	10		SECTION 1. Section 201.404, Tax Code, is amended to read as
13	11		follows:
14	12		Sec. 201.404. ALLOCATION OF REVENUE. After deducting the
15	13		amount required to be deposited by Section 201.403 [of this code],
16	14		the comptroller shall deposit [one-fourth of] the revenue collected
17	15		from the tax imposed by this chapter as follows:
18	16		(1) 25 percent to the credit of the foundation school
19	17		fund;
20		-	(2) ~~two~~ percent to the credit of the trust fund created
	18	+	(2) 2.5 percent to the credit of the trust fund created
21	19		under Section 205.001, to be disbursed to counties for the purposes
22	20		and in the manner provided by that section; and
23	21		(3) the remainder [three-fourths] to the general
24	22		revenue fund.
25	23		SECTION 2. Section 202.353, Tax Code, is amended to read as
26	24		follows:
27	25		Sec. 202.353. ALLOCATION OF REVENUE. After deducting the
28	26		amount required to be deposited by Section 202.352 [of this code],
29	27		the comptroller shall deposit [one-fourth of] the revenue collected
30	28		from the tax imposed by this chapter as follows:
31	29		(1) 25 percent to the credit of the foundation school
32	30		fund;
33		-	(2) ~~two~~ percent to the credit of the trust fund created
	31	+	(2) 2.5 percent to the credit of the trust fund created
34	32		under Section 205.001, to be disbursed to counties for the purposes
35	33		and in the manner provided by that section; and
36	34		(3) the remainder [three-fourths] to the general
37	35		revenue fund.
38	36		SECTION 3. Subtitle I, Title 2, Tax Code, is amended by
39	37		adding Chapter 205 to read as follows:
40	38		CHAPTER 205. SEVERANCE TAX TRUST FUND
41	39		Sec. 205.001. TRUST FUND FOR REVENUE FROM SEVERANCE TAXES
42	40		FOR COUNTIES. (a) The comptroller shall deposit the following in a
43	41		trust fund outside the state treasury to be held with the
44	42		comptroller in trust:
45	43		(1) the revenue collected from the gas production tax
46	44		as specified by Section 201.404(2); and
47	45		(2) the revenue collected from the oil production tax
48	46		as specified by Section 202.353(2).
49	47		(b) The comptroller shall:
50	48		(1) administer the fund as trustee on behalf of each
51	49		county in this state; and
52	50		(2) send to the county treasurer payable to the county
53	51		the county's share of the revenue in the trust fund as provided by
54	52		this section.
55	53		(c) Each county's share of the revenue in the trust fund is
56	54		equal to the amount of revenue in the trust fund that is
57	55		attributable to gas production and oil production in that county.
58	56		(d) The comptroller shall remit to a county the county's
59	57		share of the revenue in the trust fund not later than the 90th day
60	58		after the last day of the calendar month during which the revenue
61	59		was deposited in the trust fund.
62		-	(e) A county may use money received under this section only
63		-	to supplement construction and maintenance of county roads and
64		-	bridges that are impacted by oil and gas exploration and production
65		-	activities.
	60	+	(e) A county may use money received under this section for
	61	+	building and maintenance of infrastructure in the county or may
	62	+	deposit the money in the county treasury.
66	63		SECTION 4. The changes in law made by this Act apply only to
67	64		tax revenue collected under Chapters 201 and 202, Tax Code, from oil
68	65		and gas produced on or after the effective date of this Act. Tax
69	66		revenue collected under Chapters 201 and 202, Tax Code, from oil and
70	67		gas produced before that date is governed by the law in effect at
71	68		the time the oil and gas was produced, and that law is continued in
72	69		effect for that purpose.
73		-	SECTION 5. This Act takes effect September 1, ~~2019~~.
	70	+	SECTION 5. This Act takes effect September 1, 2017.