Texas SB1001 modifies the allocation of constitutional transfers to certain funds, including the Texas severance tax revenue and oil and natural gas.
Texas SB1001 modifies the allocation of constitutional transfers to certain funds, including the Texas severance tax revenue and oil and natural gas defense fund. The bill specifies that if the economic stabilization fund reaches a certain threshold, transfers to the Texas severance tax revenue and oil and natural gas defense fund will instead go to the economic stabilization fund. The fund consists of money deposited under various sections of the Tax Code and Transportation Code, and money transferred under the Texas Constitution.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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