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House Bill 1964 |
House Author: Clardy |
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Effective: 5-29-15 |
Senate Sponsor: Eltife et al. |
House Bill 1964 amends the Tax Code and Government Code to designate the cities of Frisco, Nacogdoches, and El Paso as eligible central municipalities for purposes relating to the municipal hotel occupancy tax, which serves to allow those cities to pledge revenue derived from the municipal hotel occupancy tax from qualified hotel projects for the payment of obligations issued or incurred to acquire, lease, construct, and equip the hotels and any facilities ancillary to the hotels. The bill also extends such authority to the cities of Tyler, Odessa, and Round Rock.