Sec. 151.802. ALLOCATION OF CERTAIN REVENUE TO PROPERTY TAX RELIEF FUND. (a) This section applies only:
(1) during the state fiscal years beginning September 1 of 2012, 2013, 2014, 2015, and 2016; and
(2) with respect to unused franchise tax credits described by Sections 18(e) and (f), Chapter 1 (H.B. 3), Acts of the 79th Legislature, 3rd Called Session, 2006.
(b) Notwithstanding Section 151.801, the comptroller shall deposit to the credit of the property tax relief fund under Section 403.109, Government Code, an amount of the proceeds from the collection of the taxes imposed by this chapter equal to the amount of revenue the state does not receive from the tax imposed under Chapter 171 because taxable entities, as defined by that chapter, that are corporations are entitled to claim unused franchise tax credits after December 31, 2012, and during that state fiscal year.
(c) This section expires September 1, 2017.
Added by Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 30.03, eff. January 1, 2012.
Section: Previous 151.7032 151.704 151.705 151.707 151.7075 151.708 151.709 151.7101 151.7102 151.7103 151.711 151.712 151.713 151.714 151.801Last modified: September 28, 2016