| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the use by certain municipalities of certain tax |
|
|
revenue to fund convention center facilities, multipurpose arenas, |
|
|
venues, and related infrastructure. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 351.1015, Tax Code, is amended by |
|
|
amending Subsection (b) and adding Subsection (j) to read as |
|
|
follows: |
|
|
(b) This section applies only to a qualified project located |
|
|
in a municipality with a population of at least 850,000 [650,000] |
|
|
but less than 950,000 [750,000] according to the most recent |
|
|
federal decennial census. |
|
|
(j) Notwithstanding any other law or a term of any ordinance |
|
|
or agreement adopted or entered into under this section, due to the |
|
|
effect of the COVID-19 pandemic on hotel-associated revenues, the |
|
|
date on which a project financing zone designated under this |
|
|
section expires is automatically extended for two years if the zone |
|
|
was: |
|
|
(1) designated by a municipality as a project |
|
|
financing zone in or before 2019; and |
|
|
(2) in existence on March 15, 2020. |
|
|
SECTION 2. This Act takes effect September 1, 2025. |