GroundRules
Tex. Local Government Code § 505.258: CESSATION OF COLLECTION OF TAXES.
Where this section sits in the code
- LOCAL GOVERNMENT CODE
- TITLE 12. PLANNING AND DEVELOPMENT
- SUBTITLE C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT
- CHAPTER 505. TYPE B CORPORATIONS
- SUBCHAPTER F. SALES AND USE TAX
A sales and use tax imposed under this chapter may not be collected after the last day of the first calendar quarter that occurs after the Type B corporation notifies the comptroller that:
(1) all bonds or other obligations of the corporation, including any refunding bonds, payable wholly or partly from the proceeds of the sales and use tax imposed under this chapter, have been paid in full; or
(2) the total amount, exclusive of guaranteed interest, necessary to pay in full the bonds and other obligations has been set aside in a trust account dedicated to the payment of the bonds and other obligations.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Collected 2026-08-27T01:47:27Z. Source file · JSON