If approved by Texas voters, Proposition 7 will reallocate billions of dollars to the State Highway Fund for new highway expansion projects – which will very likely lead to more condemnation and eminent-domain cases throughout the State of Texas. The proposition, which will be on the ballot on November 3, 2015, will redistribute tax revenue from two sources, the general sales and use tax, and the motor vehicle sales and rental tax. The proposition reallocates all annual sales tax revenue that exceed $28 billion from September 1, 2017 to September 1, 2032 to the State Highway Fund, up to $2.5 billion per year. Additionally, 35% of all annual vehicle sales and rental tax revenue above $5 billion from September 1, 2019 to August 31, 2029 will be directed to the State Highway Fund.
Photo Courtesy of NicholsforSenate.com.
Senator Robert Nichols, co-author of the bill, had the following to say: If voters pass the proposition, it “would be the largest single increase in transportation funding in Texas history.” The additional funding will finance miles of new roads and highways. Texas property owners should educate themselves on the upcoming vote because the additional funding will no doubt lead to more condemnation and eminent-domain cases.
To view the bill please click here.