Texas Finance Code 156.502 – Funding
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(a) On an application for an original license issued under Chapter 157, the applicant, in addition to paying the original application fee, shall pay a fee in the amount of $20. The fee shall be deposited in the recovery fund.
(a-1) All or any portion of the amount of a penalty that is collected by the commissioner under Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202, as determined by the commissioner, may be deposited to the credit of the recovery fund at the end of each fiscal year.
Text of section as amended by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6
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Terms Used In Texas Finance Code 156.502
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.