| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to an increase in the state sales and use tax rate for the |
|
|
purpose of reducing school district maintenance and operations ad |
|
|
valorem taxes; increasing the rate of a tax. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 151.051(b), Tax Code, is amended to read |
|
|
as follows: |
|
|
(b) The sales tax rate is 6.5 [6-1/4] percent of the sales |
|
|
price of the taxable item sold. |
|
|
SECTION 2. Subchapter M, Chapter 151, Tax Code, is amended |
|
|
by adding Section 151.803 to read as follows: |
|
|
Sec. 151.803. ALLOCATION OF CERTAIN REVENUE TO SCHOOL |
|
|
DISTRICT PROPERTY TAX REDUCTION. Notwithstanding Section 151.801, |
|
|
the comptroller shall deposit an amount of revenue equal to the |
|
|
proceeds derived from the collection of taxes imposed by this |
|
|
chapter attributable to the portion of the tax rate in excess of |
|
|
6.25 percent of the sales price of the taxable item sold to the |
|
|
credit of the property tax relief fund. Money credited to the fund |
|
|
under this section may be appropriated only to the Texas Education |
|
|
Agency for use in providing property tax relief through reduction |
|
|
of the state compression percentage, as defined by Section |
|
|
42.2516(a), Education Code. |
|
|
SECTION 3. This Act takes effect October 1, 2019. |