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A JOINT RESOLUTION
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proposing a constitutional amendment dedicating certain revenue |
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derived from the tax imposed on the sale and use of taxable items 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 an amount equal to $3 billion of the |
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total net revenue derived from the imposition of the state sales and |
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use tax on the sale, storage, use, or other consumption in this |
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state of taxable items under Chapter 151, Tax Code, or its |
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successor, to the credit of the state highway fund. |
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(b) In addition to the deposit made under subsection (a), |
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the comptroller shall deposit an amount equal to two percent of the |
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net revenue derived from the imposition of the state sales and use |
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tax under Chapter 151, Tax Code, minus the deposit required under |
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subsection (a) to the credit of the state highway fund. |
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(c) Revenue deposited to the credit of the state highway |
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fund under subsections (a) and (b) 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; |
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(2) to repay the principal of and interest on bonds and |
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other public securities issued, and bond enhancement agreements |
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entered into, as authorized by Section 49-n, Article III, Texas |
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Constitution, as proposed by H.J.R. 28, 78th Legislature, Regular |
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Session, 2003; or, |
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(3) repay the principal and interest on general |
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obligation bonds issued as authorized by Section 49-p, Article III, |
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of this constitution. |
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(d) This provision 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, dedicating a portion of the state sales and |
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use tax to the state 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, 2016. |
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This proposed constitutional amendment shall be submitted to |
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the voters at an election to be held November 3, 2015. The ballot |
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shall be printed to permit voting for or against the proposition: |
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"The constitutional amendment dedicating a portion of sales tax |
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revenue towards increased transportation funding." |