| Issue Date: | 2006-06-21 |
|---|---|
| Revised Date: | 2019-09-01 |
Legal Citations
- Tax Code sec. 152.1222, sec. 154.6035, sec. 155.2415, sec. 171.4011
- Government Code sec. 403.109
Origin:
2006 by H.B. 2, 79th Leg., 3rd C.S.
Purpose
Special fund in the state treasury outside the General Revenue Fund. Allocations from computation of motor vehicle sales tax based on standard presumptive values or percentages of those values deposited beginning October 1, 2006. Proceeds from collection of cigarette, cigar and tobacco production tax increases deposited beginning January 1, 2007. Calculated amounts from franchise taxes deposited beginning in FY 2008.
Used to reduce school district maintenance and operations (m&o) tax rates. When the average m&o is not more than $1.00 per $100 of taxable value, then 2/3 used only for a purpose that will result in a further reduction of the m&o rate and 1/3 used only to increase the level of equalization of district enrichment tax efforts.
| Classification | Group 01: General State Operating and Disbursing Funds [?] |
|---|---|
| Depository Interest | Retained in appropriated fund. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | General Appropriations Act |
Administering Agencies
- 902 – Comptroller - State Fiscal for the Texas Education Agency, Agency 701
Financial Activity
To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
Note
Amended by S.B. 1, 82nd Leg., 1st C.S.
Deposits of sales tax revenue to offset older franchise tax credits for certain entities for FY 2013-2017 pursuant to Tax Code 151.802. This section expired effective Sept. 1, 2017.
USAS Values
| USAS Title | PROPERTY TAX RELIEF FUND |
|---|---|
| Consolidated Fund | |
| State Fund Group | 01 - GENERAL STATE OPERATING & DISBURSING FDS |
| USAS Status | A |