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Texas Statutes (Last Updated: January 4, 2014) |
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TAX CODE |
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Title 2. STATE TAXATION |
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Subtitle E. SALES, EXCISE, AND USE TAXES |
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Chapter 152. TAXES ON SALE, RENTAL, AND USE OF MOTOR VEHICLES |
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Subchapter G. DISPOSITION OF TAXES |
Sec. 152.122. ALLOCATION OF TAX
Latest version.
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The comptroller shall deposit the funds received under Section 152.121 of this code as follows:
(1) 1/4 to the credit of the foundation school fund; and
(2) the remaining funds to the credit of the general revenue fund.
Acts 1981, 67th Leg., p. 1595, ch. 389, Sec. 1, eff. Jan. 1, 1982. Amended by Acts 1981, 67th Leg., p. 2778, ch. 752, Sec. 9(h), eff. Jan. 1, 1982. Acts 1984, 68th Leg., 2nd C.S., ch. 28, art. II, part B, Sec. 2, eff. Sept. 1, 1984; Acts 1984, 68th Leg., 2nd C.S., ch. 31, art. 1, Sec. 42, eff. Sept. 1, 1985; Acts 1987, 70th Leg., 2nd C.S., ch. 7, Sec. 1, eff. Sept. 1, 1987.