Texas § TX.152.123 - TAX RETAINED BY COUNTY
Full text of Texas The Texas Constitution § TX.152.123 — TAX RETAINED BY COUNTY, with citation guidance and answers to common questions.
§ TX.152.123. TAX RETAINED BY COUNTY
TAX RETAINED BY COUNTY. (a) The county tax assessor-collector each calendar year shall calculate five percent of the tax and penalties collected by the county tax assessor-collector under this chapter in the preceding calendar year. In addition, the county tax assessor-collector shall calculate each calendar year an amount equal to five percent of the tax and penalties that the comptroller: (1) collected under Section 152.047 in the preceding calendar year; and (2) determines are attributable to sales in the county. (b) The county shall retain the following percentage of the amounts calculated under Subsection (a) during each of the following fiscal years: (1) in fiscal year 2006, 10 percent; (2) in fiscal year 2007, 20 percent; (3) in fiscal year 2008, 30 percent; (4) in fiscal year 2009, 40 percent; (5) in fiscal year 2010, 50 percent; (6) in fiscal year 2011, 60 percent; (7) in fiscal year 2012, 70 percent; (8) in fiscal year 2013, 80 percent; (9) in fiscal year 2014, 90 percent; (10) in fiscal year 2015 and succeeding years, 100 percent. (c) The county shall credit the amounts retained under Subsection (b) to the county's general fund. Added by Acts 2003, 78th Leg., ch. 1325, Sec. 9.01, eff. Sept. 1, 2005.
Frequently Asked Questions About Texas § TX.152.123
What does The Texas Constitution § TX.152.123 cover?
Section TX.152.123 ("TAX RETAINED BY COUNTY") 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 § TX.152.123?
A common citation format is "The Texas Constitution § TX.152.123" (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 § TX.152.123 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.