Texas Local Government Code 504.105 – Limitation On Use of Revenues for Promotional Purpose
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(a) Except as provided by Subsection (b), a Type A corporation may spend not more than 10 percent of the corporate revenues for promotional purposes.
(b) A Type A corporation may spend not more than 25 percent of the corporate revenues for promotional purposes if the authorizing municipality:
(1) is located in two counties;
(2) has a population of less than 24,250 according to the 1990 federal census; and
(3) is located wholly or partly within 10 miles of a federal military reservation.
Terms Used In Texas Local Government Code 504.105
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005