Texas § OC.2024.054 - PENALTIES FOR LATE PAYMENT OR REPORT
Full text of Texas The Texas Constitution § OC.2024.054 — PENALTIES FOR LATE PAYMENT OR REPORT, with citation guidance and answers to common questions.
§ OC.2024.054. PENALTIES FOR LATE PAYMENT OR REPORT
PENALTIES FOR LATE PAYMENT OR REPORT. (a) A racetrack association is liable for a penalty if the racetrack association does not pay the state's share of a pari-mutuel pool or file a report related to the payment of that share on or before the time the payment or report is due. (b) The amount of the penalty under Subsection (a) is the greater of: (1) five percent of the total amount due; or (2) $1,000. (c) An additional penalty in an amount equal to one percent of the unpaid amount of the state's share of the pari-mutuel pool shall be added for each business day that the required report or payment is late, up to a maximum penalty of 12 percent. (d) A penalty under this section may be waived in a situation in which a penalty would be waived under Section 111.103 , Tax Code. Added by Acts 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969 ), Sec. 1.01, eff. April 1, 2019.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § OC.2024.054
What does The Texas Constitution § OC.2024.054 cover?
Section OC.2024.054 ("PENALTIES FOR LATE PAYMENT OR REPORT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § OC.2024.054?
A common citation format is "The Texas Constitution § OC.2024.054" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § OC.2024.054 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.