Prop 1 special section
Link to article here.
Doubts about Prop 1 loom in light of oil bust
By Terri Hall
January 4, 2015
When Texas lawmakers punted on road funding with passage of Proposition One last year, they never anticipated the Texas oil boom would abruptly crater. It took three special sessions to round up the two-thirds majority needed to place a Constitutional amendment on the ballot for Texas voters to decide if they wanted to raid half of the state’s oil and gas severance tax (a tax on new oil wells) and divert those revenues to the State Highway Fund. With the promise that the new funds could not be used to build or support toll roads, Texas voters gave the green light. But the euphoria lawmakers felt after getting away with gaining new highway funds without ending diversions of the gasoline tax has quickly turned to doubt as the plummeting price of gasoline has severely tempered oil production in the Lone Star State.