Sec. 321.503. STATE'S SHARE. Before sending any money to a municipality under this subchapter the comptroller shall deduct two percent of the amount of the taxes collected within the municipality during the period for which a distribution is made as the state's charge for its services under this chapter and shall, subject to premiums payments under Section 321.501(c), credit the money deducted to the general revenue fund.
Added by Acts 1987, 70th Leg., ch. 191, Sec. 1, eff. Sept. 1, 1987.
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