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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 revenue derived from the |
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state gasoline tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 162.503, Tax Code, is amended to read as |
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follows: |
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Sec. 162.503. ALLOCATION OF GASOLINE TAX. [(a)] On or |
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before the fifth workday after the end of each month, the |
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comptroller, after making all deductions for refund purposes and |
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for the amounts allocated under Sections 162.502 and 162.5025, |
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shall allocate the net remainder of the taxes collected under |
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Subchapter B as follows: |
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(1) one-fourth [of the tax] shall be deposited to the |
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credit of the available school fund; and |
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(2) three-fourths [one-half of the tax] shall be |
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deposited to the credit of the state highway fund [for the
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construction and maintenance of the state road system under
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existing law; and
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[(3)
from the remaining one-fourth of the tax the
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comptroller shall:
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[(A)
deposit to the credit of the county and road
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district highway fund all the remaining tax receipts until a total
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of $7,300,000 has been credited to the fund each fiscal year; and
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[(B)
after the amount required to be deposited to
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the county and road district highway fund has been deposited,
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deposit to the credit of the state highway fund the remainder of the
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one-fourth of the tax, the amount to be provided on the basis of
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allocations made each month of the fiscal year, which sum shall be
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used by the Texas Department of Transportation for the
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construction, improvement, and maintenance of farm-to-market
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roads]. |
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SECTION 2. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this Act had not been |
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enacted, and the former law is continued in effect for the |
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collection and allocation of that revenue. |
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SECTION 3. This Act takes effect September 1, 2015. |