Texas Transportation Code

§ 451.614 — REFUNDS OF EXCESS SALES AND USE TAX REVENUE

TN § 451.614Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 451. METROPOLITAN RAPID TRANSIT AUTHORITIES · Art. M. WITHDRAWAL OF TERRITORY FROM AUTHORITY

Statute text

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(a)The comptroller shall refund to the unit of election the amount of the authority's sales and use tax revenue:

(1)that is in excess of the net financial obligation of the unit and was collected in the unit after the date of withdrawal; or

(2)if the unit's share of authority assets exceeded the unit's gross financial obligation to the authority, that was collected in the unit after the date of withdrawal.

(b)The comptroller may:

(1)determine the amount refundable under Subsection (a) in any reasonable manner;

(2)subtract any deduction otherwise allowed by law; and

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Legislative history

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