Texas Transportation Code

§ 451.206 — USE OF REVENUE FOR REGIONAL ECONOMIC DEVELOPMENT FACILITIES

TN § 451.206Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 451. METROPOLITAN RAPID TRANSIT AUTHORITIES · Art. E. REGIONAL ECONOMIC DEVELOPMENT FACILITIES IN STATIONS OR TERMINAL COMPLEXES

Statute text

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(a)Revenue received from the collection of the authority's sales and use tax at the rate equal to the amount of the rate increase adopted under this subchapter may be used only to finance a project described in the ballot proposition.

(b)The dedication of revenue under Subsection (a) expires on the fifth anniversary of the date the sales and use tax rate increase takes effect in the authority.

(c)Money not used for the regional economic development facilities portion of a station or terminal complex may be used for other purposes.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.