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JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to permit the Texas Transportation Commission, subject to |
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legislative review and approval, to designate the area adjacent to |
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a state highway project as a transportation finance zone and |
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authorizing the revenue from the state sales and use taxes imposed |
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in the zone to be deposited in a revolving fund and used to repay |
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financial assistance provided from the fund for certain purposes. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding Section 68 to read as follows: |
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Sec. 68. TRANSPORTATION FINANCE ZONES. (a) The |
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legislature by general law may authorize the Texas Transportation |
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Commission or its successor to designate as a transportation |
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finance zone an area defined by general law that is adjacent to the |
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right-of-way of an existing or proposed state highway project. The |
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designation of an area as a transportation finance zone must be |
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reviewed and approved by the legislature before the designation may |
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take effect. |
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(b) The legislature by general law may authorize proceeds of |
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a state tax that is established by general law and imposed on the |
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sale of a taxable item in this state or on the storage, use, or other |
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consumption in this state of a taxable item purchased from a |
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retailer for storage, use, or other consumption in this state to be |
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deposited into a revolving fund authorized by law, if the sale or |
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use is consummated within the boundaries of a transportation |
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finance zone. |
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(c) Money collected within the boundaries of a |
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transportation finance zone and deposited to the credit of a |
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revolving fund under this section may only be used for the repayment |
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of financial assistance provided from the revolving fund for |
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highway projects within the transportation finance zone in which |
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the taxes were collected as provided by law. The legislature may |
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limit the amount of money the comptroller of public accounts may |
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deposit to the credit of the fund in any state fiscal year under |
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this section. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 8, 2011. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to permit the Texas Transportation Commission, subject |
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to legislative review and approval, to designate the area adjacent |
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to a state highway project as a transportation finance zone and |
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authorizing the revenue from the state sales and use taxes imposed |
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in the zone to be deposited in a revolving fund and used to repay |
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financial assistance provided from the fund for certain purposes." |