1-1  By:  Henderson                                        S.B. No. 1629
    1-2        (In the Senate - Filed March 28, 1995; March 29, 1995, read
    1-3  first time and referred to Committee on Finance; May 4, 1995,
    1-4  reported favorably by the following vote:  Yeas 11, Nays 0;
    1-5  May 4, 1995, sent to printer.)
    1-6                         A BILL TO BE ENTITLED
    1-7                                AN ACT
    1-8  relating to tax rebates for qualified hotel projects.
   1-10        SECTION 1.  Subsection (h), Section 151.429, Tax Code, is
   1-11  amended to read as follows:
   1-12        (h)  Notwithstanding the other provisions of this section,
   1-13  the owner of a qualified hotel project shall receive a rebate,
   1-14  refund, or payment of 100 percent of the sales and use taxes paid
   1-15  or collected by the qualified hotel project or businesses located
   1-16  in the qualified hotel project pursuant to this chapter and 100
   1-17  percent of the hotel occupancy taxes paid by persons for the use or
   1-18  possession of or for the right to the use or possession of a room
   1-19  or space at the qualified hotel project pursuant to the provisions
   1-20  of Chapter 156 during the first 10 <seven> years after such
   1-21  qualified hotel project is open for initial occupancy.
   1-22        SECTION 2.  The importance of this legislation and the
   1-23  crowded condition of the calendars in both houses create an
    2-1  emergency and an imperative public necessity that the
    2-2  constitutional rule requiring bills to be read on three several
    2-3  days in each house be suspended, and this rule is hereby suspended,
    2-4  and that this Act take effect and be in force from and after its
    2-5  passage, and it is so enacted.
    2-6                               * * * * *