| Issue Date: | 1996-09-01 |
|---|---|
| Revised Date: |
Legal Cites
- Tax Code sec. 321.501, sec. 322.101, sec. 322.102, sec. 323.501
- Transportation Code sec. 451.404, sec. 453.401
- Government Code sec. 403.011
Origin:
September 1, 1996
Purpose
To record the receipt of local sales and use tax collected by the Comptroller for each city, county, metropolitan transit authority (MTA) and special purpose district (SPD) authorizing the collection. Such receipts to be transmitted at least twice each year. Provision for retention of a portion of the authority's share to cover returned checks and refunds is permissible. An amount equal to 2 percent of collections is transmitted to the General Revenue Fund to offset administrative costs.
| Classification | Group 08: Trust Funds [?] |
|---|---|
| Depository Interest | Retained in appropriated fund. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | Not appropriated for state expenditure. |
Administering Agencies
Note
USAS Values
| USAS Title | CITY, COUNTY, MTA & SPD SALES TAX TRUST |
|---|---|
| Consolidated Fund | |
| State Fund Group | 08 - TRUST FUNDS |
| USAS Status | A |
Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities