Texas § LG.501.161 - CERTAIN ECONOMIC INCENTIVES PROHIBITED
Full text of Texas The Texas Constitution § LG.501.161 — CERTAIN ECONOMIC INCENTIVES PROHIBITED, with citation guidance and answers to common questions.
§ LG.501.161. CERTAIN ECONOMIC INCENTIVES PROHIBITED
CERTAIN ECONOMIC INCENTIVES PROHIBITED. (a) In this section, "related party" means a person who owns at least 80 percent of the business enterprise to which the sales and use tax would be rebated as part of an economic incentive. (b) Notwithstanding any other provision of this subtitle, a corporation may not offer to provide an economic incentive for a business enterprise whose business consists primarily of purchasing taxable items using a resale certificate and then reselling those items to a related party. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 3.01, eff. April 1, 2009.
Frequently Asked Questions About Texas § LG.501.161
What does The Texas Constitution § LG.501.161 cover?
Section LG.501.161 ("CERTAIN ECONOMIC INCENTIVES PROHIBITED") 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 § LG.501.161?
A common citation format is "The Texas Constitution § LG.501.161" (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 § LG.501.161 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.