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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation to the state highway fund of certain |
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revenue from the taxes imposed on the sale, rental, or use of motor |
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vehicles. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 152.122, Tax Code, is amended to read as |
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follows: |
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Sec. 152.122. ALLOCATION OF TAX. Subject to Section |
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152.1222, in each state fiscal year the [The] comptroller shall |
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deposit the funds received under Section 152.121 [of this code] as |
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follows: |
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(1) the amount of the first funds received under |
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Section 152.121 [1/4] to the credit of the general revenue |
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[foundation school] fund, but not to exceed the amount deposited to |
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the general revenue fund under this section in the state fiscal year |
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ending August 31, 2013; and |
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(2) the remaining amount [funds] to the credit of the |
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state highway [general revenue] fund. |
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SECTION 2. In addition to the substantive changes made by |
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this Act, this Act conforms Section 152.122, Tax Code, to the method |
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of allocating motor vehicle sales and use taxes in effect before the |
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effective date of this Act. Section 11.04, Chapter 4 (S.B. 3), Acts |
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of the 72nd Legislature, 1st Called Session, 1991, enacted former |
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Section 403.094(h), Government Code, which abolished certain state |
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fund dedications and resulted in the abolition of the allocation to |
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the foundation school fund effective August 31, 1995. |
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SECTION 3. This Act takes effect September 1, 2013. |