Bill Text: TX SJR47 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Proposing a constitutional amendment increasing the rate of the state sales and use tax and dedicating revenue derived from that rate increase to repaying certain transportation bonds.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2013-04-08 - Left pending in subcommittee [SJR47 Detail]
Download: Texas-2013-SJR47-Introduced.html
| 83R12224 KLA-D | ||
| By: Eltife | S.J.R. No. 47 | |
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| proposing a constitutional amendment increasing the rate of the | ||
| state sales and use tax and dedicating revenue derived from that | ||
| rate increase to repaying certain transportation bonds. | ||
| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Article VIII, Texas Constitution, is amended by | ||
| adding Section 32 to read as follows: | ||
| Sec. 32. (a) The state sales and use tax imposed on the | ||
| sale, storage, use, or other consumption in this state of a taxable | ||
| item under Chapter 151, Tax Code, or its successor is imposed at a | ||
| rate that is one-half of one percent more than the rates prescribed | ||
| by general law. | ||
| (b) The comptroller of public accounts shall deposit the net | ||
| revenue derived from the state sales and use tax described by | ||
| Subsection (a) of this section at a rate of one-half of one percent | ||
| to the credit of an account in the general revenue fund. Interest | ||
| earned on the account must be credited to the account. | ||
| (c) Revenue deposited in the account under Subsection (b) of | ||
| this section and interest credited to the account may be used only | ||
| to repay the principal of and interest on general obligation bonds | ||
| issued by or on behalf of the Texas Department of Transportation on | ||
| or before January 1, 2013, or the principal of and interest on any | ||
| refunding bonds issued to repay those bonds. | ||
| (d) This section expires on the earlier of: | ||
| (1) September 1, 2030; or | ||
| (2) the date the principal of and interest on all bonds | ||
| described by Subsection (c) of this section are paid. | ||
| SECTION 2. The following temporary provision is added to | ||
| the Texas Constitution: | ||
| TEMPORARY PROVISION. (a) This temporary provision applies | ||
| to the constitutional amendment proposed by the 83rd Legislature, | ||
| Regular Session, 2013, increasing the rate of the state sales and | ||
| use tax and dedicating revenue derived from that rate increase to | ||
| repaying certain transportation bonds. | ||
| (b) Section 32, Article VIII, of this constitution takes | ||
| effect January 1, 2014. | ||
| (c) This temporary provision expires September 2, 2015. | ||
| SECTION 3. This proposed constitutional amendment shall be | ||
| submitted to the voters at an election to be held November 5, 2013. | ||
| The ballot shall be printed to provide for voting for or against the | ||
| proposition: "The constitutional amendment increasing the rate of | ||
| the state sales and use tax by one-half of one percent and | ||
| dedicating revenue derived from that rate increase to repaying | ||
| certain transportation bonds." | ||
