02-25-19 Regular Meeting of the La Porte City Council

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H.B. No. 1192 1 Before transmitting the funds, the comptroller shall deduct one 2 [fie] percent of the amount allocated to each taxing unit as a 3 charge by the state for its services under this section and deposit 4 that amount into the state treasury to the credit of the 5 comptroller's operating fund. Interest earned on all deposits made 6 in the state treasury under this section shall be credited to the 7 general revenue fund. 8 (d) The comptroller shall retain in the suspense account for 9 a taxing unit a portion of the taxing unit's share of the fees 10 collected, not to exceed five percent of the amount remitted to the 11 taxing unit. From the amounts retained in a taxing unit's suspense 12 account, the comptroller may make refunds for overpayments to the 13 account and to redeem dishonored checks and drafts deposited to the 14 credit of the account. 15 (e) Unless another method is required by federal law, the 16 comptroller shall compute for each calendar quarter the percentage 17 of total sales and use tax allocations made pursuant to Title 3 of 18 the Tax Code, including any local sales and use taxes governed by 19 any provision of Title 3 of the Tax Code, to each eligible taxing 20 unit and shall apply that percentage to the total fees collected 21 under Section 151.059, Tax Code, and allocated to eligible taxing 22 units in that quarter. 23 (f) The comptroller may combine an eligible taxing unit's 24 share of the fees remitted or collected under Section 151.059, Tax 25 Code, a suspense account under this section, or an allocation made 26 under this section with other trust or suspense accounts held for 27 that taxing unit or other allocations made to that taxing unit under 2