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Senate Bill 748 |
Senate Author: Nelson |
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Effective: 9-1-13 |
House Sponsor: Geren |
Senate Bill 748 amends the Tax Code to authorize certain hotel-associated tax revenue to be used to enhance and upgrade convention center facilities, multipurpose arenas, venues, and related infrastructure in municipalities with a population of at least 650,000 but less than 750,000. The hotel-associated tax revenue is state hotel occupancy tax revenue collected in a project financing zone from all hotels located in the zone and state mixed beverage tax revenue collected from all mixed beverage permittees at hotels located in the zone, as prescribed by the bill. The bill sets out a process for disbursement of this revenue by the comptroller of public accounts. The bill also provides for the use of local tax revenue collected by qualified hotel projects in the project financing zone under provisions relating to enterprise zones.