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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation of certain motor vehicle sales tax |
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revenue to the state highway fund and to the uses of that revenue. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter G, Chapter 152, Tax Code, is amended |
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by adding Section 152.1223 to read as follows: |
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Sec. 152.1223. ALLOCATION OF CERTAIN TAX REVENUE TO STATE |
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HIGHWAY FUND. (a) Notwithstanding Section 152.122, the |
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comptroller shall deposit to the credit of the state highway fund |
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the following percentages of the money received under Section |
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152.121 that is derived from the tax imposed under Section 152.021 |
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and is remaining after the comptroller makes the allocation |
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required by Section 152.1222: |
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(1) in the state fiscal year beginning September 1, |
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2013, 10 percent of the remaining amount; |
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(2) in the state fiscal year beginning September 1, |
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2014, 20 percent of the remaining amount; |
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(3) in the state fiscal year beginning September 1, |
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2015, 30 percent of the remaining amount; |
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(4) in the state fiscal year beginning September 1, |
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2016, 40 percent of the remaining amount; |
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(5) in the state fiscal year beginning September 1, |
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2017, 50 percent of the remaining amount; |
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(6) in the state fiscal year beginning September 1, |
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2018, 60 percent of the remaining amount; |
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(7) in the state fiscal year beginning September 1, |
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2019, 70 percent of the remaining amount; |
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(8) in the state fiscal year beginning September 1, |
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2020, 80 percent of the remaining amount; |
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(9) in the state fiscal year beginning September 1, |
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2021, 90 percent of the remaining amount; and |
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(10) in state fiscal years beginning on or after |
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September 1, 2022, 100 percent of the remaining amount. |
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(b) Money deposited to the credit of the state highway fund |
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under this section may be appropriated only for the purposes |
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specified by Section 7-d(a), Article VIII, Texas Constitution. |
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SECTION 2. This Act takes effect September 1, 2011. |