84R1610 CJC-D
 
  By: Metcalf H.B. No. 469
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the allocation of certain motor vehicle sales tax
  revenue to the state highway fund and to the uses of that revenue.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter G, Chapter 152, Tax Code, is amended
  by adding Section 152.1223 to read as follows:
         Sec. 152.1223.  ALLOCATION OF CERTAIN TAX REVENUE TO STATE
  HIGHWAY FUND. (a) Notwithstanding Section 152.122, the
  comptroller shall deposit to the credit of the state highway fund
  the following percentages of the money received under Section
  152.121 that is derived from the tax imposed under Section 152.021
  and is remaining after the comptroller makes the allocation
  required by Section 152.1222:
               (1)  in the state fiscal year beginning September 1,
  2017, 10 percent of the remaining amount;
               (2)  in the state fiscal year beginning September 1,
  2018, 20 percent of the remaining amount;
               (3)  in the state fiscal year beginning September 1,
  2019, 30 percent of the remaining amount;
               (4)  in the state fiscal year beginning September 1,
  2020, 40 percent of the remaining amount;
               (5)  in the state fiscal year beginning September 1,
  2021, 50 percent of the remaining amount;
               (6)  in the state fiscal year beginning September 1,
  2022, 60 percent of the remaining amount;
               (7)  in the state fiscal year beginning September 1,
  2023, 70 percent of the remaining amount;
               (8)  in the state fiscal year beginning September 1,
  2024, 80 percent of the remaining amount;
               (9)  in the state fiscal year beginning September 1,
  2025, 90 percent of the remaining amount; and
               (10)  in each state fiscal year beginning on or after
  September 1, 2026, 100 percent of the remaining amount.
         (b)  Money deposited to the credit of the state highway fund
  under this section may be appropriated only:
               (1)  for a purpose authorized by Section 7-a, Article
  VIII, Texas Constitution; or
               (2)  to repay the principal and interest on general
  obligation bonds issued as authorized by Section 49-p, Article III,
  Texas Constitution.
         SECTION 2.  This Act takes effect September 1, 2015.