Bill Text: TX SJR30 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Proposing a constitutional amendment dedicating certain revenue derived from any increases in taxes on motor fuel to the repayment of certain transportation-related state debt.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-04-07 - No action taken in committee [SJR30 Detail]
Download: Texas-2011-SJR30-Introduced.html
82R11698 KLA-D | ||
By: Ogden | S.J.R. No. 30 |
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proposing a constitutional amendment dedicating certain revenue | ||
derived from any increases in taxes on motor fuel to the repayment | ||
of certain transportation-related state debt. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Article VIII, Texas Constitution, is amended by | ||
adding Section 7-c to read as follows: | ||
Sec. 7-c. Notwithstanding Section 7-a of this article, the | ||
net revenue derived from the portions of the rates of the taxes | ||
imposed on gasoline and diesel fuel used to propel motor vehicles | ||
over public roadways that exceed the rates of the taxes imposed on | ||
January 1, 2011, but not to exceed a portion of the rates equal to | ||
five cents, for each net gallon or fractional part on which the | ||
taxes are imposed, shall be allocated to a separate account in the | ||
state highway fund. Interest earned on the account shall be | ||
credited to the account. Revenue allocated to the account in the | ||
state highway fund under this section and interest on the revenue | ||
may be appropriated only to repay the principal of and interest on: | ||
(1) notes issued and loans obtained as authorized by | ||
Section 49-m, Article III, of this constitution; and | ||
(2) bonds and other public securities issued, and bond | ||
enhancement agreements entered into, as authorized by Section 49-n, | ||
Article III, of this constitution, as added by H.J.R. 28, Acts of | ||
the 78th Legislature, Regular Session, 2003. | ||
SECTION 2. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 8, 2011. | ||
The ballot shall be printed to permit voting for or against the | ||
proposition: "The constitutional amendment dedicating certain | ||
revenue derived from future increases in gasoline and diesel fuel | ||
taxes, if any, to the repayment of certain existing and future | ||
transportation-related state debt." |