MS HB1153

Amends Section 27-25-506 to redirect oil severance tax distributions from the State General Fund to the State Highway Fund over a four-year phase-in period beginning fiscal year 2016.

Fiscal year 2016: 100% of oil severance tax revenues (excluding amounts credited to the constitutional trust fund) deposited in State General Fund.

Fiscal year 2017: 1/3 of revenues to State Highway Fund, 2/3 to State General Fund.

Fiscal year 2018: 2/3 of revenues to State Highway Fund, 1/3 to State General Fund.

Fiscal year 2019 and thereafter: 100% of oil severance tax revenues deposited in State Highway Fund.