Texas § FI.303.003 - COMPUTATION OF WEEKLY CEILING

Full text of Texas The Texas Constitution § FI.303.003 — COMPUTATION OF WEEKLY CEILING, with citation guidance and answers to common questions.

§ FI.303.003. COMPUTATION OF WEEKLY CEILING

COMPUTATION OF WEEKLY CEILING. (a) The weekly ceiling is computed by: (1) multiplying the auction rate by two; and (2) rounding the result obtained under Subdivision (1) to the nearest one-quarter of one percent. (b) The weekly rate ceiling becomes effective on Monday of each week and remains in effect through the following Sunday. (c) In this subchapter, "auction rate" means the auction average rate quoted on a bank discount basis for 26-week treasury bills issued by the United States government, as published by the Federal Reserve Board, for the week preceding the week in which the weekly rate ceiling is to take effect. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.03, eff. Sept. 1, 1999.

Related Texas Legal Topics

Frequently Asked Questions About Texas § FI.303.003

What does The Texas Constitution § FI.303.003 cover?

Section FI.303.003 ("COMPUTATION OF WEEKLY CEILING") 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 § FI.303.003?

A common citation format is "The Texas Constitution § FI.303.003" (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 § FI.303.003 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.