Tex. Transp. Code Section 460.609
Capital Recovery Fee

An agreement to provide services to a public transportation financing area may require the municipality to pay the authority a capital recovery fee. An authority that requires a capital recovery fee shall:

(1)

apply toward the amount owed for the capital recovery fee any amount in the tax increment account that exceeds the amount necessary to compensate the authority for:

(A)

the annual maintenance and operating expenses of providing service to the public transportation financing area, including amounts for expansion, improvement, rehabilitation, or enhancement that may be owed for previous years’ maintenance and operating expenses; and

(B)

any capital cost incurred for the benefit of the public transportation financing area; and

(2)

notify the municipality when the amount owed for the capital recovery fee has been fully paid.
Added by Acts 2011, 82nd Leg., R.S., Ch. 921 (S.B. 1422), Sec. 4, eff. September 1, 2011.

Source: Section 460.609 — Capital Recovery Fee, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­460.­htm#460.­609 (accessed Jun. 5, 2024).

460.001
Definitions 460.002
Applicability 460.003
Ineligibility of Certain Municipalities 460.004
Reference 460.051
Creation of Authority 460.052
Hearing 460.053
Resolution or Order 460.054
Membership of Interim Executive Committee 460.055
Duties of Interim Executive Committee 460.056
Approval of Service Plan and Tax Rate 460.057
Confirmation Election 460.058
Conduct of Election 460.059
Results of Election 460.060
Failure to Confirm Authority 460.101
Powers Applicable to Confirmed Authority 460.102
Nature of Authority 460.103
General Powers of Authority 460.104
Power to Contract 460.105
Operation of Public Transportation System 460.106
Authorization of Tax Levy 460.107
Acquisition of Property 460.108
Agreement with Utilities, Carriers 460.109
Fares and Use Fees 460.110
Insurance 460.111
Tax Exemption 460.112
Mass Transit Rail System 460.201
Terms 460.202
Eligibility 460.203
Conflicts of Interest 460.204
Meetings 460.205
Quorum 460.206
Rules 460.251
Definitions 460.252
Applicability 460.253
Composition 460.254
Appointment of Board Member by Certain Municipalities 460.255
Nonvoting Board Members 460.256
Eligibility of Elected Officer to Serve on Board 460.257
Vacancy 460.258
Voting Requirements 460.301
Addition of Territory by Municipal Annexation 460.302
Addition of Municipality by Election 460.303
Joining Authority 460.304
Tax Imposed in Added Territory 460.401
Management of Authority 460.402
Financial Audit 460.403
Budget 460.404
Funding 460.405
Prohibitions 460.406
Purchases: Competitive Bidding 460.501
Definition 460.502
Power to Issue Bonds 460.503
Bond Terms 460.504
Sale 460.505
Incontestability 460.506
Security Pledged 460.507
Refunding Bonds 460.508
Notes 460.509
Obligations and Credit Agreements 460.551
Sales and Use Tax 460.552
Maximum Tax Rate in Authority Area 460.553
Initial Sales Tax: Effective Date 460.554
Rate Decrease 460.601
Definition 460.602
Participation in Service Plan 460.603
Designation of Public Transportation Financing Area 460.604
Hearing 460.605
Designation of Tax Increment 460.606
Tax Increment Account 460.607
Agreement with Comptroller 460.608
Accounting of Maintenance and Operating Expenses 460.609
Capital Recovery Fee 460.610
Use of Surplus Tax Increment Payment Amounts 460.611
Termination of Public Transportation Financing Area 460.1041
Liability Limited for Rail Services Under Certain Agreements 460.1091
Enforcement of Fares and Other Charges 460.1092
Fare Enforcement Officers 460.2015
Membership of Board of Directors
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 460.609’s source at texas​.gov