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SENATE CONCURRENT RESOLUTION
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WHEREAS, Section 7-c(f), Article VIII, Texas Constitution, |
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provides: "The legislature by adoption of a resolution approved by |
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a record vote of a majority of the members of each house of the |
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legislature may extend, in 10-year increments, the duty of the |
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comptroller of public accounts to make a deposit under Subsection |
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(a) or (b) of this section beyond the applicable date prescribed by |
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Subsection (e) of this section."; and |
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WHEREAS, Under Section 7-c(e)(1), Article VIII, Texas |
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Constitution, the duty of the comptroller of public accounts under |
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Section 7-c(a) of that article to deposit to the credit of the state |
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highway fund $2.5 billion of the net revenue derived from the |
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imposition of the state sales and use tax on the sale, storage, use, |
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or other consumption in this state of taxable items under Chapter |
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151, Tax Code, or its successor, that exceeds the first $28 billion |
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of that revenue coming into the treasury in that state fiscal year |
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expires August 31, 2032; and |
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WHEREAS, Under Section 7-c(e)(2), Article VIII, Texas |
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Constitution, the duty of the comptroller of public accounts under |
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Section 7-c(b) of that article to deposit to the credit of the state |
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highway fund an amount equal to 35 percent of the net revenue |
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derived from the tax authorized by Chapter 152, Tax Code, or its |
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successor, and imposed on the sale, use, or rental of a motor |
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vehicle that exceeds the first $5 billion of that revenue coming |
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into the treasury in that state fiscal year expires August 31, 2029; |
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now, therefore, be it |
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RESOLVED by the 88th Legislature of the State of Texas, That |
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the duty of the comptroller of public accounts under Section |
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7-c(a), Article VIII, Texas Constitution, to deposit to the credit |
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of the state highway fund $2.5 billion of the net revenue derived |
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from the imposition of the state sales and use tax on the sale, |
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storage, use, or other consumption in this state of taxable items |
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under Chapter 151, Tax Code, or its successor, that exceeds the |
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first $28 billion of that revenue coming into the treasury in that |
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state fiscal year is extended and expires August 31, 2042; and, be |
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it further |
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RESOLVED, That the duty of the comptroller of public accounts |
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under Section 7-c(b), Article VIII, Texas Constitution, to deposit |
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to the credit of the state highway fund an amount equal to 35 |
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percent of the net revenue derived from the tax authorized by |
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Chapter 152, Tax Code, or its successor, and imposed on the sale, |
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use, or rental of a motor vehicle that exceeds the first $5 billion |
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of that revenue coming into the treasury in that state fiscal year |
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is extended and expires August 31, 2039; and, be it further |
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RESOLVED, That this resolution is adopted only if approved by |
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a record vote of a majority of the members of each house of the |
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legislature; and, be it further |
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RESOLVED, That the secretary of state forward an official |
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copy of this resolution to the comptroller of public accounts. |