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Texas Constitution:Article VIII, Section 7-c (view source)
Revision as of 16:24, August 7, 2023
, August 7, 2023Text replacement - "the treasury" to "the Treasury"
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{{DISPLAYTITLE:Article VIII, Section 7-c of the Texas Constitution}}{{Template:Texas Constitution|text=Added November 3, 2015: | {{DISPLAYTITLE:Article VIII, Section 7-c of the Texas Constitution}}{{Template:Texas Constitution|text=Added November 3, 2015: | ||
'''(a) Subject to Subsections (d) and (e) of this section, in each state fiscal year, the comptroller of public accounts shall deposit to the credit of the state highway fund $2.5 billion of the net revenue derived from the imposition of the state sales and use tax on the sale, storage, use, or other consumption in this state of taxable items under Chapter [https://statutes.capitol.texas.gov/Docs/TX/pdf/TX.151.pdf 151], Tax Code, or its successor, that exceeds the first $28 billion of that revenue coming into the | '''(a) Subject to Subsections (d) and (e) of this section, in each state fiscal year, the comptroller of public accounts shall deposit to the credit of the state highway fund $2.5 billion of the net revenue derived from the imposition of the state sales and use tax on the sale, storage, use, or other consumption in this state of taxable items under Chapter [https://statutes.capitol.texas.gov/Docs/TX/pdf/TX.151.pdf 151], Tax Code, or its successor, that exceeds the first $28 billion of that revenue coming into the Treasury in that state fiscal year.''' | ||
'''(b) Subject to Subsections (d) and (e) of this section, in each state fiscal year, the comptroller of public accounts shall deposit to the credit of the state highway fund an amount equal to 35 percent of the net revenue derived from the tax authorized by Chapter [https://statutes.capitol.texas.gov/Docs/TX/pdf/TX.152.pdf 152], Tax Code, or its successor, and imposed on the sale, use, or rental of a motor vehicle that exceeds the first $5 billion of that revenue coming into the | '''(b) Subject to Subsections (d) and (e) of this section, in each state fiscal year, the comptroller of public accounts shall deposit to the credit of the state highway fund an amount equal to 35 percent of the net revenue derived from the tax authorized by Chapter [https://statutes.capitol.texas.gov/Docs/TX/pdf/TX.152.pdf 152], Tax Code, or its successor, and imposed on the sale, use, or rental of a motor vehicle that exceeds the first $5 billion of that revenue coming into the Treasury in that state fiscal year.''' | ||
'''(c) Money deposited to the credit of the state highway fund under this section may be appropriated only to: (1) construct, maintain, or acquire rights-of-way for public roadways other than toll roads; or (2) repay the principal of and interest on general obligation bonds issued as authorized by Section [[Texas Constitution:Article III, Section 49-p|49-p]], Article III, of this constitution.''' | '''(c) Money deposited to the credit of the state highway fund under this section may be appropriated only to: (1) construct, maintain, or acquire rights-of-way for public roadways other than toll roads; or (2) repay the principal of and interest on general obligation bonds issued as authorized by Section [[Texas Constitution:Article III, Section 49-p|49-p]], Article III, of this constitution.''' | ||