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A BILL TO BE ENTITLED
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AN ACT
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relating to the dedication of certain sales and use tax and |
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franchise tax revenue to the Texas rail relocation and improvement |
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fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 151.801, Tax Code, is amended by |
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amending Subsection (a) and adding Subsection (d-1) to read as |
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follows: |
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(a) Except for the amounts allocated under Subsections (b), |
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[and] (c), and (d-1), all proceeds from the collection of the taxes |
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imposed by this chapter shall be deposited to the credit of the |
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general revenue fund. |
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(d-1) The amount of the proceeds from the collection of taxes |
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imposed by this chapter on the purchase of taxable items by a rail |
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carrier shall be deposited to the credit of the Texas rail |
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relocation and improvement fund. The comptroller may determine the |
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amount to be deposited to the Texas rail relocation and improvement |
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fund using any appropriate method, including available statistical |
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data. In addition, the comptroller may require taxpayers to report |
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to the comptroller as necessary to make the allocation. In this |
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subsection, "rail carrier" means a rail carrier classified as a |
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Class I, Class II, or Class III carrier under 49 C.F.R. Section |
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1201.1-1(a). |
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SECTION 2. Section 171.401, Tax Code, as effective January |
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1, 2008, is amended to read as follows: |
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Sec. 171.401. REVENUE DEPOSITED IN GENERAL REVENUE FUND AND |
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TEXAS RAIL RELOCATION AND IMPROVEMENT FUND. (a) Except as provided |
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by Subsection (b) and Section 171.4011, the [The] revenue from the |
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tax imposed by this chapter shall be deposited to the credit of the |
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general revenue fund. |
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(b) The amount of the taxes paid under this chapter by a rail |
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carrier shall be deposited to the credit of the Texas rail |
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relocation and improvement fund. The comptroller may require |
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taxpayers to submit information to the comptroller as necessary to |
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make the allocation. This subsection does not affect the amount |
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required to be deposited to the property tax relief fund under |
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Section 171.4011. In this subsection, "rail carrier" means a rail |
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carrier classified as a Class I, Class II, or Class III carrier |
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under 49 C.F.R. Section 1201.1-1(a). |
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SECTION 3. (a) Sections 151.801(a) and (d-1), Tax Code, as |
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amended and added by this Act, take effect September 1, 2007. |
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(b) Section 171.401, Tax Code, as amended by this Act, takes |
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effect January 1, 2008. |