Texas § 15.904 USE OF SALES TAX AS LOAN SECURITY.

Texas Statutes

§ 15.904 — USE OF SALES TAX AS LOAN SECURITY.

Texas § 15.904

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This text of Texas § 15.904 (USE OF SALES TAX AS LOAN SECURITY.) 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. Water Code Code Ann. § 15.904 (2026).

Text

Sec. 15.904. USE OF SALES TAX AS LOAN SECURITY.

(a)A political subdivision or water supply corporation may pledge a percentage of its revenue to the payment of debt incurred under a loan agreement entered into with the board under this subchapter. A municipality or county may pledge a percentage of the sales and use tax revenue received under Chapter 321 or 323 , Tax Code, as applicable, to the payment of debt incurred under a loan agreement entered into with the board under this subchapter if a majority of the voters voting at an election called and held for that purpose authorize the municipality or county to pledge a portion of that revenue for that purpose.

(b)Sections 321.506 , 321.507 , and 323.505 , Tax Code, do not apply to taxes pledged under this subchapter.

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Sec. 15.904. USE OF SALES TAX AS LOAN SECURITY. (a) A political subdivision or water supply corporation may pledge a percentage of its revenue to the payment of debt incurred under a loan agreement entered into with the board under this subchapter. A municipality or county may pledge a percentage of the sales and use tax revenue received under Chapter 321 or 323 , Tax Code, as applicable, to the payment of debt incurred under a loan agreement entered into with the board under this subchapter if a majority of the voters voting at an election called and held for that purpose authorize the municipality or county to pledge a portion of that revenue for that purpose.
(b) Sections 321.506 , 321.507 , and 323.505 , Tax Code, do not apply to taxes pledged under this subchapter.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1234, Sec. 22, eff. Sept. 1, 2001. Amended by: Acts 2005, 79th Leg., Ch. 1151 (H.B. 3029 ), Sec. 6, eff. June 18, 2005.