Pub 61 2020-2021 Issue 3

24 $0 $1 $2 $4 $3 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $3.66 A C T U A L E S T I MAT E D Compound Annual Growth Rate (Fiscal 2011-2020): 1.4% 2015 2014 2013 2012 2019 2020 2018 2017 2016 FISCAL -6% -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 2.1% 1.6% 2.9% 3.9% 2.0% 2.0% 2.5% -5.8% 1.9% sel natural arged used roads. diesel en 20 COLLEC T IONS All Funds, Excluding Trusts (billions) TAX FUND FISCAL 2020 Gasoline Tax 1 General Revenue Fund $2,605,183,035 Diesel Fuel Tax 2 General Revenue Fund $913,551,912 Liquefied and Compressed Natural Gas Tax 2 General Revenue Fund $5,977,245 TOTAL 3 $3,524,712,191 FOOTNOTES 1 After deductions for refunds and other purposes, 25 percent is allocated to the Available School Fund; 50 % is allocated to the State Highway Fund; and the remaining 25 % also is deposited to the State Highway Fund, except that the first $7.3 million is deposited to the County and Road District Highway Fund. 2 After deductions for refunds, 25 % is allocated to the Available School Fund and 75 % is allocated to the State Highway Fund. 3 May not sum due to rounding. 4 This rate is for gasoline and diesel fuel (eligible transit companies qualify for a refund of 1 cent per gallon on gasoline and 1/2 cent per gallon on diesel fuel). Liquefied natural gas and compressed natural gas are taxed at 15 cents per gallon. 5 The federal tax rate for diesel fuel is 24.4 cents per gallon. 6 Estimated initial distribution of total gasoline tax revenue in fiscal 2023, as projected in the December 2020 Tax Exemptions and Tax Incidence Report . H I STOR I CAL VOLAT I L I T Y Year-over-year Change, All Funds, Excluding Trusts on H I G H L I G REVEN FISCAL 2 $ 3.5 GASOLIN STATE RA $ 0.20 LOCAL R NON FEDERAL R $ 0.18 REVENUE BY SOURC E WHO PA BUSINES 21.9 CONSUM 78.1% 6.1% MOTOR FUEL TAXES M otor fuel taxes are the state’s consumption taxes on gasoline, diesel fuel and liquefied and com- pressed natural gas. In general, these taxes are charged on each gallon of fuel sold in Texas used to propel vehicles on Texas’ public roads. The rates for the gasoline and diesel fuel taxes last changed in 1991, when they were both increased from 15-20 cents per gallon. E N AC T E D 19 2 3 10 11 G L E N N H E G A R • T E X A S COMP TROL L ER OF PUBL I C ACCOUNT S PER GALLON $0 $1 $2 $4 $3 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $3.66 A C T U A L E S T I MAT E D Compound Annual Growth Rate (Fiscal 2011-2020): 1.4% 2015 2014 2013 2012 2019 2020 2018 2017 2016 FISCAL -6% -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 2.1% 1.6% 2.9% 3.9% 2.0% 2.0% 2.5% -5.8% 1.9% MOTOR F U E L TAX ES E N A C T E D 1 9 2 3 M otor fuel taxes are the state’s consumption taxes on gasoline, diesel fuel and liquefied and compressed natural gas. In general, these taxes are charged on each gallon of fuel sold in Texas used to propel vehicles on Texas’ public roads. The rates for the gasoline and diesel fuel taxes last changed in 1991, when they were both increased from 15 - 20 cents per gallon. MOTOR FUEL TAXES COLLEC T IONS All Funds, Excluding Trusts (billions) TAX FUND FISCAL 2020 Gasoline Tax 1 General Revenue Fund $2,605,183,035 Diesel Fuel Tax 2 General Revenue Fund $913,551,912 Liquefied and Compressed Natural Gas Tax 2 General Revenue Fund $5,977,245 TOTAL 3 $3,524,712,191 FOOTNOTES 1 After deductions for refunds and other purposes, 25 percent is allocated to the Available School Fund; 50 % is allocated to the State Highway Fund; and the remaining 25 % also is deposited to the State Highway Fund, except that the first $7.3 million is deposited to the County and Road District Highway Fund. 2 After deductions for refunds, 25 % is allocated to the Available School Fund and 75 % is allocated to the State Highway Fund. 3 May not sum due to rounding. 4 This rate is for gasoline and diesel fuel (eligible transit companies qualify for a refund of 1 cent per gallon on gasoline and 1/2 cent per gallon on diesel fuel). Liquefied natural gas and compressed natural gas are taxed at 15 cents per gallon. 5 The federal tax rate for diesel fuel is 24.4 cents per gallon. 6 Estimated initial distribution of total gasoline tax revenue in fiscal 2023, as projected in the December 2020 Tax Exemptions and Tax Incidence Report . H I STOR I CAL VOLAT I L I T Y Year-over-year Change, All Funds, Excluding Trusts Percentage of Total Tax Collection F I SCA L 20 20 All Funds, Excluding Trusts $3.52 BILLION H I G H L I G H T S : REVENUE FISCAL 2020 $ 3.52B GASOLINE TAX PER GALLON PER GALLON STATE RATE $ 0.20 LOCAL RATE NONE FEDERAL RATE $ 0.184 5 4 REVENUE BY SOURC E WHO PAYS? 6 BUSINESS 21.9% CONSUMER 78.1% 6.1% 10 G L E N N H E G A R • T E X A S COMP TROL L ER OF PUBL I C ACCOUNT S MOTOR FUEL TAXES TAX FUND FISCAL 202 Gasoline Tax 1 General Revenue Fund $2,605,183 Diesel Fuel Tax 2 General Revenue Fund $913,551 Liquefied and Compressed Natural Gas Tax 2 General Revenue Fund $5,977 TOTAL 3 $3,524,712 FOOTNOTES 1 After deductions for refunds and other purposes, 25 percent is allocated to the Availabl School Fund; 50 % is allocated to the State Highway Fund; and the remaining 25 % also is deposited to the State Highway Fund, except that the first $7.3 million is deposited to the C and Road District Highway Fund. 2 After deductions for refunds, 25 % is allocated to the Available School Fund and 75 % is allocated to the State Highway Fund. 3 May not sum due to rounding. 4 This rate is for gasoline and diesel fuel (eligible transit companies qualify for a refund of 1 cent per gallon on gasoline and 1/2 cent per gallon on diesel fuel). Liquefied natural gas compressed natural gas are taxed at 15 cents per gallon. 5 The federal tax rate for diesel fuel is 24.4 cents per gallon. 6 Estimated initial distribution of total gasoline tax revenue in fiscal 2023, as projected in December 2020 Tax Exemptions and Tax Incidence Report . Percentage of Total Tax Collection F I SCA L 20 20 All Funds, Excluding Trusts $3.52 BILLION REVENUE BY SOURC E 6.1% Continued from page 23 1 After deductions for refunds and other purposes, 25 percent is alloca ed to the Available School Fund; 50% is allocated o the State Highway Fund; and the remaining 25% also is deposited to the State Highway Fund, except that the first $7.3 million is deposited to the County and Road District Highway Fund. 2 After deductions for refunds, 25% is allocated to the Available School Fund and 75% is allocated to the State Highway Fund. 3 May not sum due to rounding. FOOTNOTES