Texas Statutes
Subchapter E. Distribution of Simulcast Pari-Mutuel Pools
Section 2028.2041. Allocation of Certain Funds

Sec. 2028.2041. ALLOCATION OF CERTAIN FUNDS. (a) In each state fiscal biennium, the comptroller shall deposit the amounts allocated under Section 151.801(c-3), Tax Code, into the escrow account established under Section 2028.204(b), until the comptroller determines the amount deposited into the account in that fiscal biennium equals the greater of:
(1) the amount appropriated to the commission for the purposes of Section 2028.204 for that fiscal biennium; or
(2) $50 million.
(b) Once the comptroller determines the greater of the amount described by Subsection (a)(1) or (2) has been deposited during a state fiscal biennium into the escrow account established under Section 2028.204(b), for the remainder of that fiscal biennium the comptroller shall deposit the amounts allocated under Section 151.801(c-3), Tax Code, into the general revenue fund.
(c) The balance of the escrow account established under Section 2028.204(b) shall not exceed $50 million.
Added by Acts 2019, 86th Leg., R.S., Ch. 1365 (H.B. 2463), Sec. 5, eff. September 1, 2019.

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