Sec. 334.089. ABOLITION OF TAX. (a) A sales and use tax imposed under this subchapter may not be collected after the last day of the first calendar quarter occurring after notification to the comptroller by the municipality or county that the municipality or county has abolished the tax or that all bonds or other obligations of the municipality or county that are payable in whole or in part from money in the venue project fund, including any refunding bonds or other obligations, have been paid in full or the full amount of money, exclusive of guaranteed interest, necessary to pay in full the bonds and other obligations has been set aside in a trust account dedicated to the payment of the bonds and other obligations.
(b) The municipality or county shall notify the comptroller of the expiration of the tax not later than the 60th day before the expiration date.
Added by Acts 1997, 75th Leg., ch. 551, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 10 - Parks and Other Recreational and Cultural Resources
Chapter 334 - Sports and Community Venues
Subchapter D. Sales and Use Tax
Section 334.081. Sales and Use Tax
Section 334.082. Tax Code Applicable
Section 334.084. Rate Increase
Section 334.085. Imposition in Municipality or County With Other Taxing Authority
Section 334.0855. Imposition in Certain Municipalities and Counties
Section 334.086. Imposition of Tax
Section 334.087. Effective Date of Tax