85R2095 CJC-D
By: Metcalf H.B. No. 432
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of certain motor vehicle sales tax
revenue to the state highway fund and to the uses of that revenue.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter G, Chapter 152, Tax Code, is amended
by adding Section 152.1223 to read as follows:
Sec. 152.1223. ALLOCATION OF CERTAIN TAX REVENUE TO STATE
HIGHWAY FUND. (a) Notwithstanding Section 152.122, the
comptroller shall deposit to the credit of the state highway fund
the following percentages of the money received under Section
152.121 that is derived from the tax imposed under Section 152.021
and is remaining after the comptroller makes the allocation
required by Section 152.1222:
(1) in the state fiscal year beginning September 1,
2019, 10 percent of the remaining amount;
(2) in the state fiscal year beginning September 1,
2020, 20 percent of the remaining amount;
(3) in the state fiscal year beginning September 1,
2021, 30 percent of the remaining amount;
(4) in the state fiscal year beginning September 1,
2022, 40 percent of the remaining amount;
(5) in the state fiscal year beginning September 1,
2023, 50 percent of the remaining amount;
(6) in the state fiscal year beginning September 1,
2024, 60 percent of the remaining amount;
(7) in the state fiscal year beginning September 1,
2025, 70 percent of the remaining amount;
(8) in the state fiscal year beginning September 1,
2026, 80 percent of the remaining amount;
(9) in the state fiscal year beginning September 1,
2027, 90 percent of the remaining amount; and
(10) in each state fiscal year beginning on or after
September 1, 2028, 100 percent of the remaining amount.
(b) Money deposited to the credit of the state highway fund
under this section may be appropriated only to:
(1) construct, maintain, or acquire rights of way for
public roadways other than toll roads; or
(2) repay the principal of and interest on general
obligation bonds issued as authorized by Section 49-p, Article III,
Texas Constitution.
(c) Money deposited to the credit of the state highway fund
under this section is:
(1) included in determining when the first $5 billion
of the net revenue derived from the tax authorized by this chapter
and imposed on the sale, use, or rental of a motor vehicle has come
into the state treasury in a state fiscal year for purposes of
Section 7-c, Article VIII, Texas Constitution; and
(2) in addition to money required to be deposited to
the credit of the state highway fund in a state fiscal year under
Section 7-c, Article VIII, Texas Constitution.
SECTION 2. This Act takes effect September 1, 2017.