Texas § 322.304 AMOUNTS RETAINED IN TRUST ACCOUNT.

Texas Statutes

§ 322.304 — AMOUNTS RETAINED IN TRUST ACCOUNT.

Texas § 322.304

Code TXTax Code

This text of Texas § 322.304 (AMOUNTS RETAINED IN TRUST ACCOUNT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Tax Code Code Ann. § 322.304 (2026).

Text

Sec. 322.304. AMOUNTS RETAINED IN TRUST ACCOUNT.

(a)The comptroller may retain in the suspense account of a taxing entity a portion of the entity's share of the tax collected for the entity under this chapter, not to exceed five percent of the amount remitted to the entity. If the entity has abolished the tax, the amount that may be retained may not exceed five percent of the final remittance to the entity at the time of the termination of the collection of the tax.

(b)From the amounts retained in an entity's suspense account, the comptroller may make refunds for overpayments to the account and to redeem dishonored checks and drafts deposited to the credit of the account.

(c)Before the expiration of one year after the effective date of the abolition of an entity's tax under this chapter

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Sec. 322.304. AMOUNTS RETAINED IN TRUST ACCOUNT. (a) The comptroller may retain in the suspense account of a taxing entity a portion of the entity's share of the tax collected for the entity under this chapter, not to exceed five percent of the amount remitted to the entity. If the entity has abolished the tax, the amount that may be retained may not exceed five percent of the final remittance to the entity at the time of the termination of the collection of the tax.
(b) From the amounts retained in an entity's suspense account, the comptroller may make refunds for overpayments to the account and to redeem dishonored checks and drafts deposited to the credit of the account.
(c) Before the expiration of one year after the effective date of the abolition of an entity's tax under this chapter other than a department under Chapter 453 , Transportation Code, the comptroller shall send to the entity the remainder of the money in the entity's account and shall close the account.