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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 revenue from |
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the taxes imposed on the sale, rental, or use of motor vehicles and |
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other taxes imposed on motor 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. The comptroller shall |
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deposit to the credit of the state highway fund all of the revenue |
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received by the comptroller that is derived from the taxes and |
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penalties imposed by this chapter [the funds received under Section
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152.121 of this code as follows:
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[(1)
1/4 to the credit of the foundation school fund;
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and
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[(2)
the remaining funds to the credit of the general
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revenue fund]. |
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SECTION 2. Section 152.1222, Tax Code, is repealed. |
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SECTION 3. 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 4. This Act takes effect September 1, 2015. |