SRC-PNG S.B. 1603 76(R)BILL ANALYSIS Senate Research CenterS.B. 1603 By: Sibley Intergovernmental Relations 6/23/1999 Enrolled DIGEST Currently, Texas municipalities are not required to maintain separate records on revenues and expenditures relating to the local hotel occupancy tax. This bill revises the regulations regarding the record of receipt and expenditure of all revenue derived from the municipal hotel occupancy tax. PURPOSE As enrolled, S.B. 1603 revises the regulations regarding the record of receipt and expenditure of all revenue derived from the municipal hotel occupancy tax. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 351.001, Tax Code, by adding Subdivision (10), to define "revenue." SECTION 2. Amends Chapter 351B, Tax Code, by adding Section 351.107, as follows: Sec. 351.107. RECORDS. Requires a municipality to maintain a record that accurately identifies the receipt and expenditure of all revenue derived from the tax imposed under this chapter. SECTION 3. Effective date: September 1, 1999. Makes application of this Act prospective. SECTION 4. Emergency clause.