By Giddings H.B. No. 2963 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the financing of sports facilities in certain 1-3 municipalities 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter 151 of the Tax Code is amended by adding 1-6 Section 151.433 to read as follows: 1-7 Section 151.433. REBATE OF CERTAIN INCREMENTAL TAX PROCEEDS 1-8 FOR SPORTS FACILITIES. (a) For purposes of this section, the 1-9 following definitions shall apply: 1-10 (1) "base year" means the calendar year immediately 1-11 prior to the year in which the construction of the sports facility 1-12 begins. 1-13 (2) "eligible tax proceeds" means the sum of all tax 1-14 proceeds generated, paid, or collected by persons or entities 1-15 located within a tax incremental sports district, including hotel 1-16 occupancy taxes, sales and use taxes, and mixed beverage taxes. 1-17 (3) "incremental tax proceeds" means the eligible tax 1-18 proceeds generated in any complete calendar year subsequent to the 1-19 base year less the eligible tax proceeds generated in the base 1-20 year. 1-21 (4) municipality shall mean a city which has a 1-22 population of not less than one million and is located in a county 1-23 that is adjacent to a county with a population of not less than 2-1 500,000. 2-2 (5) "sports facility" shall mean a facility, the 2-3 construction of which begins after January 1, 1995, that is the 2-4 home or is intended to be the home of a professional sports team 2-5 and is owned wholly or in substantial part or is financed in whole 2-6 or in substantial part by the municipality. 2-7 (6) "tax incremental sports district" means a 2-8 contiguous area which surrounds the sports facility, is located 2-9 entirely within the boundaries of the municipality, and is of a 2-10 radius of not more than 7500 feet measured from the center of the 2-11 sports facility. 2-12 (b) A municipality, upon submission of a map to the State 2-13 Comptroller which clearly designates a tax incremental sports 2-14 district, may apply for and shall be granted from the State 2-15 Comptroller a rebate of the incremental tax proceeds generated in 2-16 the previous calendar year. 2-17 (c) A municipality shall use the revenue derived from the 2-18 rebate of the incremental tax proceeds for the construction of the 2-19 sports facility or for the payment of bonds that are issued by the 2-20 municipality to finance the construction of the sports facility. 2-21 (d) The municipality may apply for and be granted a rebate 2-22 of the incremental tax proceeds occurring up to December 31 of the 2-23 twentieth year following the year that the construction of the 2-24 sports facility is completed. 2-25 SECTION 2. The importance of this legislation and the 3-1 crowded condition of the calendars in both houses create an 3-2 emergency and an imperative public necessity that the 3-3 constitutional rule requiring bills to be read on three several 3-4 days in each house be suspended, and this rule is hereby suspended.