Tex. Tax Code § 321.508 · Subchapter F. REVENUE DEPOSIT, DISTRIBUTION, AND USE
PLEDGE OF TAX REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A municipality may call and hold an election on the issue of authorizing the municipality to pledge a percentage of the sales and use tax revenue received under Section 321.101(a) or (b), or both, to the payment of obligations issued to pay all or part of the costs of one or more sports and community venue projects located in the municipality.
(b) The ballot at the election under this section must be printed to permit voting for or against the proposition: "Authorizing the City of ______ (insert name of municipality) to pledge not more than ______ percent (insert percentage not to exceed 25 percent) of the revenue received from the _________ (insert municipal sales and use tax, additional municipal sales and use tax, or both) previously adopted in the city to the payment of obligations issued to pay all or part of the costs of _________ (insert description of each sports and community venue project)."
(c) If a majority of the voters vote in favor of the proposition, the municipality may:
(1) issue bonds, notes, or other obligations that are payable from the pledged revenues to pay for all or part of the costs of the sports and community venue project or projects described in the proposition; and
(2) set aside the portion of the revenue approved at the election that the municipality actually receives and pledge that revenue as security for the payment of the bonds, notes, or other obligations.
(d) If the municipality pledges revenue under Subsection (c), the pledge and security interest shall continue while the bonds, notes, or obligations, including refunding obligations, are outstanding and unpaid.
(e) The municipality may direct the comptroller to deposit the pledged revenue to a trust or account as may be required to obtain the financing and to protect the related security interest.
(f) Sections 321.506 and 321.507 do not apply to taxes pledged under this section.
(g) In this section, "sports and community venue project" has the meaning assigned by Section 334.001, Local Government Code.
Notes and commentary — not statutory text
History
Added by Acts 1997, 75th Leg., ch. 551, Sec. 4, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TX/htm/TX.321.htm
- Text hash
- sha256 1da56ec3ed4062365733933e0d08a5a9e50a94258c00524de31560262748d8e8
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Local Government Code
Cited by 8 provisions
Provisions in this library whose text cites Tex. Tax Code § 321.508. Each shows the citation as that text prints it.
Special District Local Laws Code
- Tex. Spec. Dist. Local Laws Code § 3836.202APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3838.252APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.401-321.406 and 321.506-321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3840.202APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3842.202APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3855.252APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3863.302APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3877.302APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
- Tex. Spec. Dist. Local Laws Code § 3879.302APPLICABILITY OF CERTAIN TAX CODE PROVISIONS.Printed as Sections 321.106, 321.401, 321.402, 321.403, 321.404, 321.406, 321.409, 321.506, 321.507, and 321.508, Tax Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.