Texas income tax question on the ballot - KTEN.com - Texoma news, weather and sports

Texas income tax question on the ballot

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GRAYSON COUNTY, Texas -- Texans are now voting on 10 amendments to the state constitution. Two in particular are getting a lot of attention.

Proposition #4  deals with a state income tax, but not in the way you might think. If passed, it would prohibit the Texas Legislature from establishing a personal state income tax.

Texas is one of seven states which doesn't levy a personal income tax. 

A 993 state constitutional amendment opened the door to lawmakers enacting a Texas income tax, but only if a majority of voters approved the measure in a statewide referendum.

A "yes" vote on Proposition #4 means you are against a personal income tax. A "no" vote means you want to keep the law the way it is.

Proposition #7 pertains to the permanent school fund, which invests revenue from state-owned lands -- such as leasing mineral rights to oil and gas companies. That fund disperses money to the available school fund, which lets the state spend it on a yearly basis, sending it to districts across the state.

The maximum amount that can be transferred in a year is currently $300 million. Voting for the proposition would double the amount of money that could be transferred to $600 million annually. An "against" vote would maintain the $300 million cap.

Also on the ballot November 5 in Grayson County is a $20.8 million bond to increase capacity at two elementary schools in the Denison Independent School District. And the City of Sherman has three charter amendments on the ballot.

Early voting started on Monday and ends Friday, November 1. Election Day is Tuesday, November 5.

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