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A BILL TO BE ENTITLED
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AN ACT
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relating to the state sales tax rate and creation of the education |
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equalization fund to equalize funding among school districts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 151.051(b), Tax Code, is amended to read |
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as follows: |
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(b) The sales tax rate is seven [6-1/4] percent of the sales |
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price of the taxable item sold. |
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SECTION 2. Sections 151.801(a) and (c), Tax Code, are |
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amended to read as follows: |
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(a) Except for the amounts allocated under Subsections (b) |
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and (c) and Section 151.803, all proceeds from the collection of the |
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taxes imposed by this chapter shall be deposited to the credit of |
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the general revenue fund. |
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(c) Except for the amount allocated under Section 151.803 |
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and subject [Subject] to Subsection (c-1), the proceeds from the |
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collection of the taxes imposed by this chapter on the sale, |
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storage, or use of sporting goods shall be deposited as follows: |
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(1) an amount equal to 94 percent of the proceeds shall |
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be credited to the Parks and Wildlife Department and deposited as |
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specified in the Parks and Wildlife Code; and |
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(2) an amount equal to six percent of the proceeds |
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shall be credited to the Texas Historical Commission and deposited |
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as specified in Section 442.073, Government Code. |
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SECTION 3. Subchapter M, Chapter 151, Tax Code, is amended |
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by adding Section 151.803 to read as follows: |
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Sec. 151.803. ALLOCATION OF CERTAIN REVENUE TO EDUCATION |
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EQUALIZATION FUND OR PROPERTY TAX RELIEF FUND. All proceeds, other |
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than the amount of the proceeds allocated under Section 151.801(b), |
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from the collection of taxes imposed by this chapter attributable |
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to the portion of the tax rate in excess of 6.25 percent shall be |
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deposited, as determined by the legislature, to the credit of the |
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education equalization fund under Chapter 47, Education Code, or |
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the property tax relief fund under Section 403.109, Government |
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Code. |
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SECTION 4. Subtitle I, Title 2, Education Code, is amended |
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by adding Chapter 47 to read as follows: |
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CHAPTER 47. EDUCATION EQUALIZATION |
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Sec. 47.001. EDUCATION EQUALIZATION FUND. (a) The |
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education equalization fund is a special fund in the state treasury |
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outside the general revenue fund. The fund is exempt from the |
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application of Sections 403.095 and 404.071, Government Code. |
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Interest and income from the deposit and investment of money in the |
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fund must be allocated monthly to the fund. |
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(b) Money in the fund may be used only to equalize |
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maintenance and operations funding among school districts as |
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determined by appropriation. |
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SECTION 5. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this Act had not been |
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enacted, and the former law is continued in effect for the |
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collection of taxes due and for civil and criminal enforcement of |
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the liability for those taxes. |
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SECTION 6. This Act takes effect September 1, 2009. |