| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to allocating a portion of oil and gas production tax |
|
|
revenue to the counties from which the oil and gas originated and to |
|
|
the use of that revenue. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 201.404, Tax Code, is amended to read as |
|
|
follows: |
|
|
Sec. 201.404. ALLOCATION OF REVENUE. After deducting the |
|
|
amount required to be deposited by Section 201.403 [of this code], |
|
|
the comptroller shall deposit [one-fourth of] the revenue collected |
|
|
from the tax imposed by this chapter as follows: |
|
|
(1) 25 percent to the credit of the foundation school |
|
|
fund; |
|
|
(2) two percent to the credit of the trust fund created |
|
|
under Section 205.001, to be disbursed to counties for the purposes |
|
|
and in the manner provided by that section; and |
|
|
(3) the remainder [three-fourths] to the general |
|
|
revenue fund. |
|
|
SECTION 2. Section 202.353, Tax Code, is amended to read as |
|
|
follows: |
|
|
Sec. 202.353. ALLOCATION OF REVENUE. After deducting the |
|
|
amount required to be deposited by Section 202.352 [of this code], |
|
|
the comptroller shall deposit [one-fourth of] the revenue collected |
|
|
from the tax imposed by this chapter as follows: |
|
|
(1) 25 percent to the credit of the foundation school |
|
|
fund; |
|
|
(2) two percent to the credit of the trust fund created |
|
|
under Section 205.001, to be disbursed to counties for the purposes |
|
|
and in the manner provided by that section; and |
|
|
(3) the remainder [three-fourths] to the general |
|
|
revenue fund. |
|
|
SECTION 3. Subtitle I, Title 2, Tax Code, is amended by |
|
|
adding Chapter 205 to read as follows: |
|
|
CHAPTER 205. SEVERANCE TAX TRUST FUND |
|
|
Sec. 205.001. TRUST FUND FOR REVENUE FROM SEVERANCE TAXES |
|
|
FOR COUNTIES. (a) The comptroller shall deposit the following in a |
|
|
trust fund outside the state treasury to be held with the |
|
|
comptroller in trust: |
|
|
(1) the revenue collected from the gas production tax |
|
|
as specified by Section 201.404(2); and |
|
|
(2) the revenue collected from the oil production tax |
|
|
as specified by Section 202.353(2). |
|
|
(b) The comptroller shall: |
|
|
(1) administer the fund as trustee on behalf of each |
|
|
county in this state; and |
|
|
(2) send to the county treasurer payable to the county |
|
|
the county's share of the revenue in the trust fund as provided by |
|
|
this section. |
|
|
(c) A county's share of the revenue in the trust fund is |
|
|
equal to the proportion that the gas production and oil production |
|
|
in that county bears to the total gas production and oil production |
|
|
in this state. |
|
|
(d) The comptroller shall remit to a county the county's |
|
|
share of the revenue in the trust fund not later than the 90th day |
|
|
after the last day of the calendar month during which the revenue |
|
|
was deposited in the trust fund. |
|
|
(e) A county may use money received under this section only |
|
|
to supplement construction and maintenance of county roads and |
|
|
bridges that are impacted by oil and gas exploration and production |
|
|
activities. |
|
|
SECTION 4. The changes in law made by this Act apply only to |
|
|
tax revenue collected under Chapters 201 and 202, Tax Code, from oil |
|
|
and gas produced on or after the effective date of this Act. Tax |
|
|
revenue collected under Chapters 201 and 202, Tax Code, from oil and |
|
|
gas produced before that date is governed by the law in effect on |
|
|
the date the oil and gas was produced, and that law is continued in |
|
|
effect for that purpose. |
|
|
SECTION 5. This Act takes effect September 1, 2021, but only |
|
|
if the constitutional amendment proposed by the 86th Legislature, |
|
|
Regular Session, 2019, authorizing the legislature to allocate a |
|
|
portion of oil and gas production tax revenue to the counties from |
|
|
which the oil and gas originated is approved by the voters. If that |
|
|
amendment is not approved by the voters, this Act has no effect. |