Tex. Transp. Code § 54.105

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 54.105 - Limitation on Aggregate Amount of Expense Warrants

The aggregate amount of expense warrants issued under Section 54.104(a)(2) that are outstanding at any time during a fiscal year may not exceed 50 percent of the difference between:

(1) the revenue of the board budgeted for that fiscal year; and

(2) the principal of and interest on board obligations other than expense warrants to be paid from the revenue of the board during that fiscal year.

Tex. Transp. Code § 54.105

Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.