Texas Comptroller Manual of Accounts - Fiscal 2012
Appropriated Fund 0304 – Property Tax Relief Fund

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 will be deposited beginning October 1, 2006.  Proceeds from collection of cigarette, cigar and tobacco production tax increases will be deposited beginning January 1, 2007.  Calculated amounts from franchise taxes will be deposited to the fund beginning in FY 2008.  Used to reduced school district maintenance and operations (m&o) tax rates until the fiscal year after the first tax year which 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.