Sec. 504.262. PROCEDURES ON EXPIRATION OF TAX. (a) Before the 60th day before the date that a sales and use tax imposed under this chapter is to expire, the governing body of the authorizing municipality imposing the tax shall send to the comptroller a notice stating the expiration date of the tax.
(b) The state shall forward revenue collected from the imposition of the tax after the tax's expiration date to the governing body of the authorizing municipality to be used to pay current bonded indebtedness of the municipality.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 504 - Type a Corporations
Subchapter F. Sales and Use Tax
Section 504.251. Tax Authorized
Section 504.254. Combined Tax Rate
Section 504.255. Applicability of Tax Code
Section 504.257. Limitation on Duration of Tax
Section 504.258. Election to Reduce or Increase Tax Rate
Section 504.259. Reduction of Tax Within Regional Transportation Authority
Section 504.260. Limited Sales and Use Tax for Specific Project
Section 504.261. Concurrent Election With Election Under Tax Code