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House Bill 3296 |
House Author: Raney |
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Effective: 6-14-13 |
Senate Sponsor: Schwertner |
House Bill 3296 amends the Tax Code to temporarily raise the cap on the county hotel occupancy tax rate in a county that has a population of 150,000 or more and that is bordered by the Brazos and Navasota Rivers from 2.0 percent to 2.75 percent of the price paid for a hotel room under the following conditions:
· the convention and visitors bureau within the county executes a preferred access facilities contract with a major state university based in the county for the purpose of promoting tourism in the county;
· the county allocates the revenue derived from the increase in the tax rate for payments to the university under the preferred access facilities contract to be used for the renovation of a university-owned stadium located in the county; and
· not more than 30 years have passed from the date bonds were originally issued by the university to finance a stadium renovation project for the stadium.
The increase in the cap expires on the date the county commissioners court certifies that all debt issued or incurred by the university to finance or refinance the stadium renovation project, including interest and any costs relating to the debt, has been paid in full.
House Bill 3296 lowers from 45 to 20 the minimum percentage of the revenue from the county hotel occupancy tax that the county must spend on marketing projects that directly promote tourism, hotel, and convention activity. The bill repeals provisions relating to the imposition of a municipal hotel occupancy tax and its use in a home-rule municipality in such county that was originally chartered in or after 1938 and that is home to a major state university.