Sec. 321.501. TRUST ACCOUNT. (a) The comptroller shall deposit the taxes collected by the comptroller under this chapter in trust in the separate suspense account of the municipality from which the taxes were collected.
(b) Repealed by Acts 2003, 78th Leg., ch. 285, Sec. 31(44).
(c) Repealed by Acts 2003, 78th Leg., ch. 285, Sec. 31(44).
Added by Acts 1987, 70th Leg., ch. 191, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 19.123, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 285, Sec. 31(44), eff. Sept. 1, 2003.
Structure Texas Statutes
Subtitle C - Local Sales and Use Taxes
Chapter 321 - Municipal Sales and Use Tax Act
Subchapter F. Revenue Deposit, Distribution, and Use
Section 321.501. Trust Account
Section 321.502. Distribution of Trust Funds
Section 321.5025. Distribution of Trust Funds to Defunding Municipality
Section 321.503. State's Share
Section 321.504. Amounts Retained in Trust Account
Section 321.505. Interest on Trust Account
Section 321.506. Use of Tax Revenue by Municipality
Section 321.507. Use of Additional Municipal Sales and Use Tax
Section 321.508. Pledge of Tax Revenue
Section 321.509. Tax Powers of Municipality Not Limited
Section 321.510. Reallocation of Municipal or Local Governmental Entity Tax Revenue