Bill Text: TX SB5 | 2015-2016 | 84th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to the allocation to the state highway fund and the available school fund of certain motor vehicle sales, use, and rental tax revenue and to the uses of the revenue allocated to the state highway fund.

Spectrum: Slight Partisan Bill (Republican 18-6)

Status: (Engrossed - Dead) 2015-04-15 - Referred to Transportation [SB5 Detail]

Download: Texas-2015-SB5-Introduced.html

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84R3131 CJC-D
By: Nichols, Nelson S.B. No. 5

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, in each state
fiscal year beginning on or after September 1, 2017, the
comptroller shall deposit to the credit of the state highway fund
all money that:
(1) is received under Sections 152.047 and 152.121, is
derived from the tax imposed under Section 152.021, and is
remaining after the comptroller makes the allocation required by
Section 152.1222; and
(2) exceeds the first $2.5 billion of money described
by Subdivision (1) that is received in that fiscal year.
(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 and interest on general
obligation bonds issued as authorized by Section 49-p, Article III,
Texas Constitution.
SECTION 2. This Act takes effect September 1, 2015.