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House Bill 2463 |
House Author: King, Tracy O. |
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Effective: 9-1-19 |
Senate Sponsor: Kolkhorst |
House Bill 2463 amends the Occupations Code and Tax Code to provide for the deposit and allocation of proceeds from the collection of the sales and use tax imposed on expenditures directly related to horse ownership, riding, or boarding to the credit of the horse industry escrow account administered by the Texas Racing Commission. Among other provisions, the bill sets a maximum balance of that account and limits the annual allocation of money in the account for use as purses. Implementation of this bill is mandatory only if specific appropriations are made for its purposes.