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A JOINT RESOLUTION
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proposing a constitutional amendment temporarily dedicating a |
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portion of the revenue derived from the state sales and use tax to |
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the state highway fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VIII, Texas Constitution, is amended by |
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adding Section 7-c to read as follows: |
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Sec. 7-c. (a) In each state fiscal year, the comptroller of |
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public accounts shall deposit to the credit of the state highway |
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fund $3 billion of the net revenue derived from the imposition of |
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the state sales and use tax on the sale, storage, use, or other |
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consumption in this state of taxable items under Chapter 151, Tax |
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Code, or its successor. |
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(b) In addition to any deposit made under Subsection (a) of |
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this section, in each state fiscal year the comptroller of public |
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accounts shall deposit to the credit of the state highway fund an |
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amount equal to two percent of the net revenue described by that |
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subsection that is not deposited as provided by that subsection. |
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(c) Money deposited to the credit of the state highway fund |
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under this section may be appropriated only to: |
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(1) construct, maintain, or acquire rights-of-way for |
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public roadways other than toll roads; or |
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(2) repay the principal of and interest on: |
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(A) bonds and other public securities issued, and |
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bond enhancement agreements entered into, as authorized by Section |
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49-n, Article III, of this constitution, as proposed by H.J.R. 28, |
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78th Legislature, Regular Session, 2003; and |
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(B) general obligation bonds issued as |
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authorized by Section 49-p, Article III, of this constitution. |
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(d) This section expires September 1, 2026. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 84th Legislature, |
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Regular Session, 2015, temporarily dedicating a portion of the |
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revenue derived from the state sales and use tax to the state |
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highway fund. |
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(b) Section 7-c(a), Article VIII, of this constitution |
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takes effect September 1, 2017. |
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(c) Section 7-c(b), Article VIII, of this constitution |
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takes effect September 1, 2016. |
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(d) This temporary provision expires September 1, 2018. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 3, 2015. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment temporarily dedicating |
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a portion of state sales and use tax revenue to increase |
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transportation funding." |