Bill Text: TX HB358 | 2017 | 85th Legislature 1st Special Session | Introduced


Bill Title: Relating to supporting public education funding through an increase in the state sales and use tax rate and requiring a reduction in school district maintenance and operation ad valorem taxes; making an appropriation; increasing the rate of a tax.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2017-08-02 - Left pending in committee [HB358 Detail]

Download: Texas-2017-HB358-Introduced.html
  85S11938 CJC-D
 
  By: White H.B. No. 358
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to supporting public education funding through an increase
  in the state sales and use tax rate and requiring a reduction in
  school district maintenance and operation ad valorem taxes; making
  an appropriation; 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 7.25 [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 an account in the general revenue fund. Money credited to
  the account may be appropriated only to the Texas Education Agency
  for use by the commissioner of education to provide property tax
  relief by reducing the state compression percentage under Section
  42.2516, Education Code.
         SECTION 3.  For the state fiscal year beginning September 1,
  2018, all money credited to the account created under Section
  151.803, Tax Code, as added by this Act, preceding or during that
  year is appropriated from that account to the Texas Education
  Agency to be used by the commissioner of education to reduce the
  state compression percentage, as defined by Section 42.2516(a),
  Education Code, to the lowest percentage possible for the 2018-2019
  school year.
         SECTION 4.  The change in law made by this Act does not
  affect taxes imposed before the effective date of this Act, and the
  law in effect before that date is continued in effect for purposes
  of the liability for and collection of those taxes.
         SECTION 5.  This Act takes effect January 1, 2018.
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