General and Special Laws of The State of Texas Passed By The Second Called Session of the Sixty-Eighth Legislature and the Regular Session of the Sixty-Ninth Legislature Page: 73
The following text was automatically extracted from the image on this page using optical character recognition software:
68th LEGIS-2nd CALLED SESSION
"(1) one-fourth of the taxes shall be deposited to the credit of the available school fund;
"(2) three-fourths of the taxes shall be deposited to the credit of the state highway fund."
SECTION 6. Subsections (d) and (e), Section 153.123, Tax Code, are amended to read as
"(d) A distributor may claim a credit on the first sale or use of the gasoline and alcohol
mixture described in Subsection (e) of this section or on the gasoline used for mixing with ethyl
alcohol if the mixture meets the specifications described in Subsection (e) of this section, in the
amount per gallon specified in Subsections (a) and (b) of this section. The distributor may take
the credit on his monthly Texas gasoline distribution report. The comptroller shall, on or before
the 25th day of the last month of each quarter of the fiscal year, transfer the total amount of credits
allowed the previous quarter from the general revenue fund to the funds to which the credits would
have been allocated if they had been originally collected as tax and allocated under Section
153.503 of this code. [The .eemp.lle . she, e e before the 25th deof eeeh month,
tansfer the tetal amount of eredais allowed the p month f, the general
revenue fund to the gasoline ad ealeohol mixture which is hereby eeeted aed
thereafter shall promp ly transfer funds from the e and aleehol mintee fud to
the highway meter fuiel te fund in the amoun. of e .edits allowed to dit~tributs-] If
a claim is based on gasoline used for mixing with ethyl alcohol, the comptroller may require the
person making the claim to include in the claim the total number of gallons of ethyl alcohol
produced or purchased and not thereafter resold or distributed as ethyl alcohol and any other
information deemed necessary. The forms to be used, the procedure for filing, and the time
within which a claim for credit must be instituted are the same as those set forth for claims for
refund of taxes provided in Sections 153.120 and 153.121 of this code, with any modifications
that the comptroller determines to be appropriate to accomplish the purposes of this section.
"(e) The [the] mixture of gasoline and alcohol for which [transfer,] credits[;] or payments
shall be made under this section shall meet the following specifications:
"(1) the mixture must contain at least 10 percent ethyl alcohol;
"(2) the alcohol added to the gasoline must have been at least 192 proof when added; and
"(3) the alcohol added to the gasoline must have been produced or distilled from a
renewable source only."
SECTION 7. Chapter 15, Education Code, is amended by adding Section 15.011 to read as
"Section 15.011. TRANSFERS FROM GENERAL REVENUE FUND TO AVAILABLE
FUND. Of the amounts available for transfer from the general revenue fund to the available
school fund for the months of January and February of each fiscal year, no more than an amount
necessary to enable the comptroller to distribute from the available school fund an amount equal to
9-1/2 percent of the estimated annual available school fund apportionment to category 1 school
districts, as defined in Section 16.260, Education Code, and 3-1/2 percent of the estimated annual
available school fund apportionment to category 2 school districts, as defined in Section 16.260,
Education Code, shall be transferred from the general revenue fund to the available school
fund. Any remaining amount that would otherwise be available for transfer for the months of
January and February shall be transferred from the general revenue fund to the available school
fund in equal amounts in June and in August of the same fiscal year."
SECTION 1. Subsection (c), Section 171.152, Tax Code, is amended to read as follows:
"(c) Payment of the tax covering the regular annual period is due March IJme] 15 of each
year before the beginning of the regular annual period. However if the first anniversary of the
date that the corporation files its charter or is granted its certificate of authority is after
September 30 [De member 31] and before May 1, the payment of the tax covering the first
regular annual period is due on the same date as the tax covering the initial period."
SECTION 2. Subsection (c), Section 171.153, Tax Code, is amended to read as follows:
"(c) The tax covering the regular annual period is based on the business done by the
corporation during its fiscal year that ends in the year before the year in which the tax is
due. However, if the first anniversary of the date that the corporation files its charter or is
granted its certificate of authority is after September 30 [tDeebe'.. 4] and before May 1, the
tax covering the first regular annual period is based on the same business on which the tax
covering the initial period is based."
SECTION 3. Subsection (b), Section 171.202, Tax Code, is amended to read as follows:
CH 10, SEC III-3
Here’s what’s next.
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. General and Special Laws of The State of Texas Passed By The Second Called Session of the Sixty-Eighth Legislature and the Regular Session of the Sixty-Ninth Legislature, legislative document, 1985; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth221803/m1/77/: accessed May 22, 2019), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.