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News

Texas lawmakers might reverse voter-approved $5 billion allocation to TxDOT

Published on February 21, 2017 under CommunityImpact

More than 80 percent of Texas voters approved a proposition in November 2015 to allocate $5 billion in sales tax funds to the Texas Department of Transportation starting in the 2018-19 biennium. But Texas lawmakers may now use a little-publicized backout option to help fill an estimated multi-billion state revenue shortfall. Roughly 1.2 million Texans voted yes on a proposition to supply the State Highway Fund with $2.5 billion per fiscal year beginning in fiscal year 2018 as long as the state collects more than $28 billion in sales tax. If state motor vehicle sales and rental tax revenue exceeds $5 […]

The post Texas lawmakers might reverse voter-approved $5 billion allocation to TxDOT appeared first on Community Impact Newspaper.

Source: Community Impact- Round Rock

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