Showing posts with label Proposition 7. Show all posts
Showing posts with label Proposition 7. Show all posts

Wednesday, November 4, 2015

Proposition 7 Passes

On Nov. 3, 2014, Texas voters approved the ballot measure known as Proposition 7 (Prop 7), authorizing a constitutional amendment to dedicate portions of revenue from the state’s general sales and use tax as well as from the motor vehicle sales and rental tax to the State Highway Fund for non-
tolled projects.

The additional funding from Prop. 7 will enable TxDOT to put a greater focus on infrastructure improvements without new taxes, tolls, fees or debt. Starting in 2018, once state sales tax revenue exceeds $28 billion in a fiscal year, the next $2.5 billion of revenue will be directed to the State Highway Fund. Then, beginning in 2020, 35 percent of the state motor vehicle sales and rental tax revenue in excess of $5 billion will be directed to the State Highway Fund.

Learn more about Proposition 7 by visiting TxDOT's website.

Friday, October 23, 2015

November Elections and Proposition 7 - Constitutional Amendment for Transportation Funding

Early voting for the Nov. 3 election began Monday, Oct. 19, and runs through Friday, Oct. 30.

On Nov. 3, 2015, Texans will vote on Proposition 7, a constitutional amendment to dedicate portions of revenue from the state’s general sales and use tax as well as from the motor vehicle sales and rental tax to the State Highway Fund for non-tolled projects. The amendment would allocate the funds in the following way:
  • Beginning in September 2017 (fiscal year 2018), if state sales tax revenue exceeds $28 billion in a fiscal year, the next $2.5 billion of revenue would be directed to the State Highway Fund.
  • Beginning in September 2019 (fiscal year 2020), if state motor vehicle sales and rental tax revenue exceeds $5 billion in a fiscal year, 35 percent of the amount in excess of $5 billion would be directed to the State Highway Fund.
Learn more by visting TxDOT's website!