1. (a) The county tax assessor-collector each calendar year shall calculate five percent of the tax and penalties collected by the county tax assessor-collector under this chapter in the preceding calendar year. In addition, the county tax assessor-collector shall calculate each calendar year an amount equal to five percent of the tax and penalties that the comptroller:

   1. (1) collected under Section 152.047 in the preceding calendar year; and
   2. (2) determines are attributable to sales in the county.

2. (b) The county shall retain the following percentage of the amounts calculated under Subsection (a) during each of the following fiscal years:

   1. (1) in fiscal year 2006, 10 percent;
   2. (2) in fiscal year 2007, 20 percent;
   3. (3) in fiscal year 2008, 30 percent;
   4. (4) in fiscal year 2009, 40 percent;
   5. (5) in fiscal year 2010, 50 percent;
   6. (6) in fiscal year 2011, 60 percent;
   7. (7) in fiscal year 2012, 70 percent;
   8. (8) in fiscal year 2013, 80 percent;
   9. (9) in fiscal year 2014, 90 percent;
   10. (10) in fiscal year 2015 and succeeding years, 100 percent.
3. (c) The county shall credit the amounts retained under Subsection (b) to the county's general fund.

Added by Acts 2003, 78th Leg., ch. 1325, Sec. 9.01, eff. Sept. 1, 2005.