76R14845 SMJ-D                          
         By Sibley                                             S.B. No. 1603
         Substitute the following for S.B. No. 1603:
         By Ramsay                                         C.S.S.B. No. 1603
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the receipt and expenditure of revenue derived from the
 1-3     municipal hotel occupancy tax.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Section 351.001, Tax Code, is amended by adding
 1-6     Subdivision (10) to read as follows:
 1-7                 (10)  "Revenue" includes any interest derived from the
 1-8     revenue.
 1-9           SECTION 2.  Subchapter B, Chapter 351, Tax Code, is amended
1-10     by adding Section 351.107 to read as follows:
1-11           Sec. 351.107.  RECORDS.  A municipality shall maintain a
1-12     record that accurately identifies the receipt and expenditure of
1-13     all revenue derived from the tax imposed under this chapter.
1-14           SECTION 3.  (a)  This Act takes effect September 1, 1999.
1-15           (b)  Section 351.107, Tax Code, as added by this Act, applies
1-16     only to an expenditure made on or after the effective date of this
1-17     Act, without regard to whether the expenditure is from revenue
1-18     collected under Chapter 351, Tax Code, before, on, or after that
1-19     date.
1-20           (c)  An expenditure made before the effective date of this
1-21     Act is governed by the law applicable to the action immediately
1-22     before the effective date of this Act, and that law is continued in
1-23     effect for that purpose.
1-24           SECTION 4.  The importance of this legislation and the
 2-1     crowded condition of the calendars in both houses create an
 2-2     emergency and an imperative public necessity that the
 2-3     constitutional rule requiring bills to be read on three several
 2-4     days in each house be suspended, and this rule is hereby suspended.