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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of revenue attributable to the imposition of a |
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hotel occupancy tax by certain municipalities and counties for |
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venue projects and the period for which certain of those taxes may |
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be imposed. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 334.2515, Local Government Code, is |
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amended to read as follows: |
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Sec. 334.2515. APPLICATION. Except as provided by Sections |
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334.2516, [and] 334.2518, and 334.2519, this subchapter does not |
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apply to the financing of a venue project that is: |
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(1) an area described by Section 334.001(4)(C); |
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(2) an area or facility that is part of a municipal |
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parks and recreation system as described by Section 334.001(4)(D); |
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(3) a project described by Section 334.001(4)(E), |
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except for a project described by Section 334.001(4)(A); or |
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(4) a facility described by Section 334.001(4)(G). |
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SECTION 2. Subchapter H, Chapter 334, Local Government |
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Code, is amended by adding Section 334.2519 to read as follows: |
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Sec. 334.2519. USE OF REVENUE FOR CERTAIN VENUE PROJECTS. |
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(a) This section applies only to a venue project located in a |
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municipality with a population of 750,000 or more that is primarily |
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located in a county with a population of 1.5 million or less. |
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(b) A municipality or county may use revenue under this |
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subchapter to acquire, construct, improve, and equip a venue |
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project to which this section applies and related infrastructure to |
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be constructed on real property described by Section 334.2515(2). |
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In addition, the municipality or county may pledge the revenue to |
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the payment of bonds or other obligations the municipality or |
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county issues to finance the venue project infrastructure. |
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SECTION 3. Section 334.257, Local Government Code, is |
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amended by adding Subsection (c) to read as follows: |
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(c) This subsection applies only to a municipality with a |
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population of 750,000 or more that is primarily located in a county |
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with a population of 1.5 million or less. Notwithstanding |
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Subsection (b), a municipality to which this section applies may |
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impose a tax under this subchapter only until the earlier of: |
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(1) the date on which all bonds and other obligations |
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issued under Section 334.043 have been paid in full; |
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(2) the date on which the municipality has collected |
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the amount of money attributable to the tax imposed under this |
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subchapter that is sufficient to pay in full the bonds and other |
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obligations; or |
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(3) the date on which the total amount of money, |
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exclusive of guaranteed interest, necessary to pay in full the |
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bonds and other obligations has been set aside by the municipality |
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in a trust account dedicated to the payment of the bonds and other |
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obligations. |
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SECTION 4. This Act takes effect September 1, 2023. |