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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation of a portion of the state hotel occupancy |
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tax revenue collected in a catastrophe area to the catastrophe |
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reserve trust fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter F, Chapter 156, Tax Code, is amended |
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by adding Section 156.2513 to read as follows: |
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Sec. 156.2513. ALLOCATION OF CERTAIN REVENUE DERIVED FROM |
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HOTELS IN CATASTROPHE AREAS. (a) In this section, "catastrophe |
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area" has the meaning assigned by Section 2210.003, Insurance Code. |
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(b) Notwithstanding Section 156.251, the comptroller shall |
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deposit in the catastrophe reserve trust fund under Subchapter J, |
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Chapter 2210, Insurance Code, an amount equal to the amount derived |
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from the collection of taxes imposed under this chapter at a rate of |
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one percent and received from hotels located in a catastrophe area. |
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SECTION 2. This Act takes effect September 1, 2009. |