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A BILL TO BE ENTITLED
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AN ACT
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relating to entitlement of certain municipalities to receive tax |
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revenue from certain establishments located near a hotel and |
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convention center project. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 351.157, Tax Code, is amended by |
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amending Subsection (e) and adding Subsection (f) to read as |
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follows: |
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(e) A municipality to which this section applies is not |
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entitled to receive revenue under Subsection (d) unless the |
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municipality commences a qualified project under this subchapter |
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before September 1, 2025 [2023]. |
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(f) For purposes of Subsection (e), a municipality |
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commences a qualified project on the date the municipality, by |
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ordinance or resolution: |
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(1) authorizes the issuance of bonds or other |
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obligations related to the qualified project; or |
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(2) executes or amends: |
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(A) a contract authorized by Chapter 380, Local |
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Government Code, related to the qualified project; or |
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(B) an interlocal agreement related to the |
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qualified project. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2021. |