Tex. Loc. Gov't Code § 505.258 · Subchapter F. SALES AND USE TAX
CESSATION OF COLLECTION OF TAXES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A sales and use tax imposed under this chapter may not be collected after the last day of the first calendar quarter that occurs after the Type B corporation notifies the comptroller that:
(1) all bonds or other obligations of the corporation, including any refunding bonds, payable wholly or partly from the proceeds of the sales and use tax imposed under this chapter, have been paid in full; or
(2) the total amount, exclusive of guaranteed interest, necessary to pay in full the bonds and other obligations has been set aside in a trust account dedicated to the payment of the bonds and other obligations.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.505.htm
- Text hash
- sha256 701ed8e5ca70c08ba46b887d18fd7978785badea9f672b4035bcc136be8e525a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Loc. Gov't Code § 505.258. Each shows the citation as that text prints it.
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