Bill Text: TX HB4115 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the Texas Department of Motor Vehicles fund.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2015-05-08 - Committee report sent to Calendars [HB4115 Detail]
Download: Texas-2015-HB4115-Introduced.html
| By: Pickett | H.B. No. 4115 | |
|
|
||
|
|
||
| rel | ||
| ating to the Texas Department of Motor Vehicles fund. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. On September 1, 2015, the Texas Department of | ||
| Motor Vehicles fund created by Section 1001.151, Transportation | ||
| Code, as enacted by Section 71, Chapter 1287 (H.B. 2202), Acts of | ||
| the 83rd Legislature, Regular Session, 2013, is re-created by this | ||
| Act as a special fund in the state treasury outside the general | ||
| revenue fund, and all revenue dedicated for deposit to the credit of | ||
| the Texas Department of Motor Vehicles fund by a provision of | ||
| Chapter 1287 (H.B. 2202), Acts of the 83rd Legislature, Regular | ||
| Session, 2013, is rededicated by this Act for that purpose. | ||
| SECTION 2. (a) On September 1, 2015, the comptroller shall | ||
| transfer to the credit of the Texas Department of Motor Vehicles | ||
| fund, as re-created by this Act, an amount from the state highway | ||
| fund equal to the total amount of fees collected or received by the | ||
| Texas Department of Motor Vehicles under Section 502.356, | ||
| Transportation Code, and former Section 502.1705, Transportation | ||
| Code, during the period beginning November 1, 2009, and ending | ||
| August 31, 2013. | ||
| (b) To the extent that money from the state highway fund | ||
| transferred to the credit of the Texas Department of Motor Vehicles | ||
| fund as required by Subsection (a) of this section was, before | ||
| September 1, 2013, used as collateral or as a source of payment for | ||
| the repayment of a loan, bond, credit agreement, public security, | ||
| or other obligation, that amount remains subject to use as | ||
| collateral or as a source of payment for the obligation. However, | ||
| an obligation described by this subsection must be paid first from | ||
| the state highway fund, and the Texas Department of Motor Vehicles | ||
| fund is subject to payment of the obligation only to the extent the | ||
| state highway fund is depleted at the time the obligation matures | ||
| and becomes due. | ||
| SECTION 3. Except as specified by Section 2 of this Act, of | ||
| the revenue dedicated for deposit to the credit of the Texas | ||
| Department of Motor Vehicles fund by a provision of Chapter 1287 | ||
| (H.B. 2202), Acts of the 83rd Legislature, Regular Session, 2013, | ||
| the comptroller shall deposit to the credit of that fund only | ||
| revenue received on or after the effective date of this Act. | ||
| SECTION 4. This Act takes effect September 1, 2015. | ||
