Sec. 403.101. FLOOD AREA SCHOOL AND ROAD FUND. (a) The comptroller may receive and give a receipt for money due or payable under 33 U.S.C. Section 701c-3 (1986). The money shall be placed in a separate account called the flood area school and road fund to the credit of the comptroller. The money may not be part of the general funds of the state.
(b) Each person having the duty to collect school or road taxes for a school district, county, or other political subdivision all or part of which is within a flood control district or flood control area created or designated under law shall prepare and file with the comptroller a sworn report showing:
(1) the total number of acres acquired by the United States for flood control purposes within the boundaries of the school district, county, or other political subdivision; and
(2) the tax rate for each $100 of valuation for school and road purposes levied by the school district, county, or other political subdivision for the year in which the report is made.
(c) On or before September 15 of each year the comptroller shall pay to a school district, county, or other political subdivision the proportionate share of money in the flood area school and road fund that was produced by leases on land acquired by the United States for flood control purposes within the school district, county, or other political subdivision. The school district, county, or other political subdivision is entitled to a proportionate part of the money in the fund based on the ratio that the district's, county's, or subdivision's tax rate bears to the sum of the school tax rate and the road tax rate. The money may be used for the purposes permitted by federal law.
(d) If during a school year money distributable to a school district is in the flood area school and road fund, the comptroller, on application of a school district, may distribute the money on a date other than a date permitted by Subsection (c).
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Subtitle A - Executive Officers
Chapter 403 - Comptroller of Public Accounts
Section 403.101. Flood Area School and Road Fund
Section 403.102. Federal Revenue Sharing Trust Fund
Section 403.103. School Taxing Ability Protection Fund
Section 403.104. Federal Resource Receipts Distribution Fund
Section 403.1041. Tobacco Settlement Permanent Trust Account
Section 403.1042. Tobacco Settlement Permanent Trust Account Investment Advisory Committee
Section 403.1043. Restrictions on Lobbying Expenditures
Section 403.105. Permanent Fund for Health and Tobacco Education and Enforcement
Section 403.1055. Permanent Fund for Children and Public Health
Section 403.106. Permanent Fund for Emergency Medical Services and Trauma Care
Section 403.1065. Permanent Fund for Rural Health Facility Capital Improvement
Section 403.1067. Restrictions on Lobbying Expenditures
Section 403.1068. Management of Certain Funds
Section 403.1069. Reporting Requirement
Section 403.107. Single Local Use Taxes Collected by Remote Sellers