Texas Transportation Code 451.614 – Refunds of Excess Sales and Use Tax Revenue
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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
(3) determine whether to pay a refund under this section from the suspense account of the authority or from other sales and use tax revenue of the authority.
Terms Used In Texas Transportation Code 451.614
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(c) If the withdrawn unit of election has continuously been a part of the authority since the authority was confirmed at the initial confirmation election, the comptroller shall also refund to the governing body of the unit an amount equal to the amount by which the unit’s apportioned share of the authority’s assets exceeds the gross financial obligation of the unit.