Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 155.2415 - Allocation of Certain Revenue to Property Tax Relief Fund and Certain Other Funds(a) Notwithstanding Section 155.241, the proceeds from the collection of taxes imposed by Section 155.0211 shall be allocated as follows: (1) the amount of the proceeds that is equal to the amount that, if the taxes imposed by Section 155.0211 were imposed at a rate of 40 percent of the manufacturer's list price, exclusive of any trade discount, special discount, or deal, would be attributable to the portion of that tax rate in excess of 35.213 percent, shall be deposited to the credit of the property tax relief fund under Section 403.109, Government Code;(2) the amount of the proceeds that is equal to the amount that would be attributable to a tax rate of 35.213 percent of the manufacturer's list price, exclusive of any trade discount, special discount, or deal, if the taxes were imposed by Section 155.0211 at that rate, shall be deposited to the credit of the general revenue fund; and(3) 100 percent of the remaining proceeds shall be deposited to the credit of: (A) the physician education loan repayment program account established under Subchapter J, Chapter 61, Education Code; or(B) the general revenue fund, if the comptroller determines that the unencumbered beginning balance of the physician education loan repayment account established under Subchapter J, Chapter 61, Education Code, is sufficient to fund appropriations and other direct and indirect costs from that account for the fulfillment of existing and expected physician loan repayment commitments during the current state fiscal biennium.(b) Proceeds deposited in accordance with Subsection (a)(3)(B) may be appropriated only for health care purposes. Acts 2015, 84th Leg., R.S., Ch. 448 (H.B. 7), Sec. 36, eff. September 1, 2015Amended by: Acts 2009, 81st Leg., R.S., Ch. 285 (H.B. 2154), Sec. 16, eff. September 1, 2009Added by Acts 2006, 79th Leg., 3rd C.S., Ch. 3 (H.B. 2), Sec. 4(b), eff. September 1, 2006.