83S10413 CJC-D
 
  By: Frank H.B. No. 65
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the allocation of certain revenue from the taxes
  imposed on the sale, rental, or use of motor vehicles to the state
  highway fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 152.122, Tax Code, is amended to read as
  follows:
         Sec. 152.122.  ALLOCATION OF TAX. Subject to Section
  152.1222, the [The] comptroller shall deposit the funds received
  under Section 152.121 [of this code] as follows:
               (1)  in the state fiscal year beginning September 1,
  2015, 25 percent to the credit of the state highway fund and 75
  percent [1/4 to the credit of the foundation school fund; and
               [(2)  the remaining funds] to the credit of the general
  revenue fund;
               (2)  in the state fiscal year beginning September 1,
  2016, 50 percent to the credit of the state highway fund and 50
  percent to the credit of the general revenue fund;
               (3)  in the state fiscal year beginning September 1,
  2017, 75 percent to the credit of the state highway fund and 25
  percent to the credit of the general revenue fund; and
               (4)  in state fiscal years beginning on or after
  September 1, 2018, 100 percent to the credit of the state highway
  fund.
         SECTION 2.  In addition to the substantive changes made by
  this Act, this Act conforms Section 152.122, Tax Code, to the method
  of allocating motor vehicle sales and use taxes in effect before the
  effective date of this Act.  Section 11.04, Chapter 4 (S.B. 3), Acts
  of the 72nd Legislature, 1st Called Session, 1991, enacted former
  Section 403.094(h), Government Code, which abolished certain state
  fund dedications and resulted in the abolition of the allocation to
  the foundation school fund effective August 31, 1995.
         SECTION 3.  This Act takes effect on the 91st day after the
  last day of the legislative session.