Sen. Robert Nichols press release
Yesterday the Texas Legislature passed SJR 1, creating a constitutional amendment to dedicate up to 50 percent of all oil and gas severance taxes currently transferred to the Economic Stabilization Fund (ESF) to the state highway fund.
“I am thankful for Governor Perry’s leadership in calling this session to address such an important issue,” said Nichols. “I would also like to thank Lt. Governor Dewhurst, Speaker Straus and all members of the House and Senate. Our state’s economy depends upon having a safe and reliable road system.”
According to estimates from the comptroller’s office, SJR 1 could deposit as much as $1 billion a year into the state highway fund. The resolution stipulates that the funds could only be used for constructing, maintaining and acquiring rights-of-way for non-tolled, public roadways. However, it is also careful to ensure a healthy balance is left in the Continue reading “Nichols praises transportation bill”