Bill Text: TX HB3427 | 2019-2020 | 86th Legislature | Introduced

Texas House Bill 3427 (Prior Session Legislation)

Introduced

Bill Title: Relating to an increase in the state sales and use tax rate for the purpose of reducing school district maintenance and operations ad valorem taxes; increasing the rate of a tax.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2019-03-18 - Referred to Ways & Means [HB3427 Detail]

Download: Texas-2019-HB3427-Introduced.html

	86R11514 CJC/KJE-D

	By: Sanford	H.B. No. 3427



	A BILL TO BE ENTITLED
	AN ACT
	relating to an increase in the state sales and use tax rate for the
	purpose of reducing school district maintenance and operations ad
	valorem taxes; increasing the rate of a tax.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 151.051(b), Tax Code, is amended to read
	as follows:
	(b) The sales tax rate is 6.5 [~~6-1/4~~] percent of the sales
	price of the taxable item sold.
	SECTION 2. Subchapter M, Chapter 151, Tax Code, is amended
	by adding Section 151.803 to read as follows:
	Sec. 151.803. ALLOCATION OF CERTAIN REVENUE TO SCHOOL
	DISTRICT PROPERTY TAX REDUCTION. Notwithstanding Section 151.801,
	the comptroller shall deposit an amount of revenue equal to the
	proceeds derived from the collection of taxes imposed by this
	chapter attributable to the portion of the tax rate in excess of
	6.25 percent of the sales price of the taxable item sold to the
	credit of the property tax relief fund. Money credited to the fund
	under this section may be appropriated only to the Texas Education
	Agency for use in providing property tax relief through reduction
	of the state compression percentage, as defined by Section
	42.2516(a), Education Code.
	SECTION 3. This Act takes effect October 1, 2019.