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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) In each state fiscal biennium, the comptroller shall deposit the amounts allocated under Section 151.801(c-3), Tax Code, into the escrow account established under Section 2028.204(b), until the comptroller determines the amount deposited into the account in that fiscal biennium equals the greater of:
(1) the amount appropriated to the commission for the purposes of Section 2028.204 for that fiscal biennium; or
(2) $50 million.
(b) Once the comptroller determines the greater of the amount described by Subsection (a)(1) or (2) has been deposited during a state fiscal biennium into the escrow account established under Section 2028.204(b), for the remainder of that fiscal biennium the comptroller shall deposit the amounts allocated under Section 151.801(c-3), Tax Code, into the general revenue fund.
(c) The balance of the escrow account established under Section 2028.204(b) shall not exceed $50 million.
Cite this article: FindLaw.com - Texas Occupations Code - OCC § 2028.2041. Allocation of Certain Funds - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-2028-2041/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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