Text of section effective on April 01, 2021
Sec. 477.0103. STATE TAX REVENUE. (a) At the time the comptroller deposits to the trust fund the municipal and county tax revenue under Section 477.0102(b), the comptroller shall transfer to the trust fund the state tax revenue determined under Section 477.0051(a)(1) for the quarter.
(b) The comptroller shall discontinue transferring the amount of state tax revenue determined under Section 477.0051(a)(1) on the earlier of:
(1) the end of the third calendar month following the month in which the closing event of the games occurs; or
(2) the date the amount of state revenue in the trust fund equals 86 percent of the maximum amount of municipal, county, and state tax revenue that may be transferred or deposited to the trust fund under Section 477.0104.
Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.
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