By Ogden H.B. No. 421
74R1214 DAK-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to allocating a portion of revenue from the oil and gas
1-3 severance taxes to counties for road maintenance and improvement.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 201.404, Tax Code, is amended to read as
1-6 follows:
1-7 Sec. 201.404. ALLOCATION OF REVENUE. After deducting the
1-8 amount required to be deposited by Section 201.403 of this code,
1-9 the comptroller shall:
1-10 (1) deposit 25 percent <one-fourth> of the revenue
1-11 collected from the tax imposed by this chapter to the credit of the
1-12 foundation school fund and 65 percent <three-fourths> to the
1-13 general revenue fund; and
1-14 (2) deposit 10 percent of the revenue collected from
1-15 the tax imposed by this chapter to the credit of a trust account
1-16 created under Section 4.004, County Road and Bridge Act (Article
1-17 6702-1, Vernon's Texas Civil Statutes), to be disbursed to counties
1-18 for road maintenance and improvement in the manner provided by that
1-19 section.
1-20 SECTION 2. Section 202.353, Tax Code, is amended to read as
1-21 follows:
1-22 Sec. 202.353. ALLOCATION OF REVENUE. After deducting the
1-23 amount required to be deposited by Section 202.352 of this code,
1-24 the comptroller shall:
2-1 (1) deposit 25 percent <one-fourth> of the revenue
2-2 collected from the tax imposed by this chapter to the credit of the
2-3 foundation school fund and 65 percent <three-fourths> to the
2-4 general revenue fund; and
2-5 (2) deposit 10 percent of the revenue collected from
2-6 the tax imposed by this chapter to the credit of a trust account
2-7 created under Section 4.004, County Road and Bridge Act (Article
2-8 6702-1, Vernon's Texas Civil Statutes), to be disbursed to counties
2-9 for road maintenance and improvement in the manner provided by that
2-10 section.
2-11 SECTION 3. Subchapter A, Chapter 4, County Road and Bridge
2-12 Act (Article 6702-1, Vernon's Texas Civil Statutes), is amended by
2-13 adding Section 4.004 to read as follows:
2-14 Sec. 4.004. TRUST ACCOUNT FOR REVENUE FROM SEVERANCE TAXES
2-15 FOR ROAD MAINTENANCE AND IMPROVEMENT. (a) The comptroller shall
2-16 deposit with the state treasurer:
2-17 (1) the revenue collected from the gas production tax
2-18 as specified by Section 201.404(2), Tax Code; and
2-19 (2) the revenue collected from the oil production tax
2-20 as specified by Section 202.353(2), Tax Code.
2-21 (b) The treasurer shall keep the deposits in trust in a
2-22 separate account. The comptroller shall send to the county
2-23 treasurer payable to the county the county's share of the revenue
2-24 in the trust account as provided by this section.
2-25 (c) The comptroller shall determine a ratio for each county
2-26 in which:
2-27 (1) the numerator is the amount of taxes received
3-1 under this chapter for a calendar month from the county under
3-2 Chapters 201 and 202, Tax Code, on the gas and oil produced in the
3-3 county; and
3-4 (2) the denominator is the total amount of taxes
3-5 received under Chapters 201 and 202, Tax Code, in the state for the
3-6 calendar month.
3-7 (d) The comptroller shall remit to a county an amount equal
3-8 to the ratio for the county as determined by Subsection (c) of this
3-9 section for the calendar month multiplied by the amount deposited
3-10 in the trust account for the calendar month.
3-11 (e) The comptroller shall remit to a county the amount
3-12 provided by this section not later than the 90th day after the last
3-13 day of the calendar month during which the revenue was deposited in
3-14 the trust account.
3-15 (f) Interest earned on all deposits made with the state
3-16 treasurer under this section shall be credited to the general
3-17 revenue fund.
3-18 (g) A county may use money received under this section only
3-19 for the maintenance and improvement of county roads in the county.
3-20 SECTION 4. This Act takes effect September 1, 1995, and
3-21 applies only to tax revenue collected under Chapters 201 and 202,
3-22 Tax Code, from oil and gas produced on or after that date. Tax
3-23 revenue collected under Chapters 201 and 202, Tax Code, from oil
3-24 and gas produced before that date is governed by the law in effect
3-25 at the time the oil and gas was produced, and that law is continued
3-26 in effect for that purpose.
3-27 SECTION 5. The importance of this legislation and the
4-1 crowded condition of the calendars in both houses create an
4-2 emergency and an imperative public necessity that the
4-3 constitutional rule requiring bills to be read on three several
4-4 days in each house be suspended, and this rule is hereby suspended.