84R677 CJC-D
 
  By: Goldman H.B. No. 129
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the allocation to the state highway fund of revenue from
  the taxes imposed on the sale, rental, or use of motor vehicles and
  other taxes imposed on motor vehicles.
         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. The comptroller shall
  deposit to the credit of the state highway fund all of the revenue
  received by the comptroller that is derived from the taxes and
  penalties imposed by this chapter [the funds received under Section
  152.121 of this code as follows:
               [(1)     1/4 to the credit of the foundation school fund;
  and
               [(2)     the remaining funds to the credit of the general
  revenue fund].
         SECTION 2.  Section 152.1222, Tax Code, is repealed.
         SECTION 3.  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 4.  This Act takes effect September 1, 2015.