| 1 | 1 | | 85R2095 CJC-D |
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| 2 | 2 | | By: Metcalf H.B. No. 432 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the allocation of certain motor vehicle sales tax |
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| 8 | 8 | | revenue to the state highway fund and to the uses of that revenue. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter G, Chapter 152, Tax Code, is amended |
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| 11 | 11 | | by adding Section 152.1223 to read as follows: |
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| 12 | 12 | | Sec. 152.1223. ALLOCATION OF CERTAIN TAX REVENUE TO STATE |
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| 13 | 13 | | HIGHWAY FUND. (a) Notwithstanding Section 152.122, the |
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| 14 | 14 | | comptroller shall deposit to the credit of the state highway fund |
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| 15 | 15 | | the following percentages of the money received under Section |
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| 16 | 16 | | 152.121 that is derived from the tax imposed under Section 152.021 |
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| 17 | 17 | | and is remaining after the comptroller makes the allocation |
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| 18 | 18 | | required by Section 152.1222: |
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| 19 | 19 | | (1) in the state fiscal year beginning September 1, |
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| 20 | 20 | | 2019, 10 percent of the remaining amount; |
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| 21 | 21 | | (2) in the state fiscal year beginning September 1, |
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| 22 | 22 | | 2020, 20 percent of the remaining amount; |
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| 23 | 23 | | (3) in the state fiscal year beginning September 1, |
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| 24 | 24 | | 2021, 30 percent of the remaining amount; |
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| 25 | 25 | | (4) in the state fiscal year beginning September 1, |
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| 26 | 26 | | 2022, 40 percent of the remaining amount; |
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| 27 | 27 | | (5) in the state fiscal year beginning September 1, |
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| 28 | 28 | | 2023, 50 percent of the remaining amount; |
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| 29 | 29 | | (6) in the state fiscal year beginning September 1, |
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| 30 | 30 | | 2024, 60 percent of the remaining amount; |
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| 31 | 31 | | (7) in the state fiscal year beginning September 1, |
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| 32 | 32 | | 2025, 70 percent of the remaining amount; |
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| 33 | 33 | | (8) in the state fiscal year beginning September 1, |
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| 34 | 34 | | 2026, 80 percent of the remaining amount; |
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| 35 | 35 | | (9) in the state fiscal year beginning September 1, |
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| 36 | 36 | | 2027, 90 percent of the remaining amount; and |
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| 37 | 37 | | (10) in each state fiscal year beginning on or after |
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| 38 | 38 | | September 1, 2028, 100 percent of the remaining amount. |
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| 39 | 39 | | (b) Money deposited to the credit of the state highway fund |
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| 40 | 40 | | under this section may be appropriated only to: |
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| 41 | 41 | | (1) construct, maintain, or acquire rights of way for |
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| 42 | 42 | | public roadways other than toll roads; or |
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| 43 | 43 | | (2) repay the principal of and interest on general |
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| 44 | 44 | | obligation bonds issued as authorized by Section 49-p, Article III, |
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| 45 | 45 | | Texas Constitution. |
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| 46 | 46 | | (c) Money deposited to the credit of the state highway fund |
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| 47 | 47 | | under this section is: |
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| 48 | 48 | | (1) included in determining when the first $5 billion |
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| 49 | 49 | | of the net revenue derived from the tax authorized by this chapter |
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| 50 | 50 | | and imposed on the sale, use, or rental of a motor vehicle has come |
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| 51 | 51 | | into the state treasury in a state fiscal year for purposes of |
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| 52 | 52 | | Section 7-c, Article VIII, Texas Constitution; and |
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| 53 | 53 | | (2) in addition to money required to be deposited to |
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| 54 | 54 | | the credit of the state highway fund in a state fiscal year under |
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| 55 | 55 | | Section 7-c, Article VIII, Texas Constitution. |
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| 56 | 56 | | SECTION 2. This Act takes effect September 1, 2017. |
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