Texas Government Code 476.0103 – State Tax Revenue
(a) At the time the endorsing municipality deposits to the trust fund its hotel occupancy tax revenue under § 476.0102(a), the comptroller, at the direction of the office, shall transfer to the trust fund a portion of the state tax revenue determined under § 476.0051(a)(1) in an amount equal to 6.25 multiplied by the amount of that municipal hotel occupancy tax revenue.
(b) At the time the comptroller deposits to the trust fund the municipal sales and use tax revenue under § 476.0102(b), the comptroller, at the direction of the office, shall transfer to the trust fund a portion of the state tax revenue determined under § 476.0051(a)(1) in an amount equal to 6.25 multiplied by the amount of that municipal sales and use tax revenue.
Terms Used In Texas Government Code 476.0103
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Month: means a calendar month. See Texas Government Code 312.011
(c) The comptroller shall discontinue transferring to the trust fund any state tax revenue determined under § 476.0051(a)(1) on the earlier of:
(1) the end of the third calendar month following the month in which the closing event of the games occurs; or
(2) the date the amount of state revenue in the trust fund equals 86 percent of the maximum amount of municipal and state tax revenue that may be transferred or deposited to the trust fund under § 476.0104.