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A BILL TO BE ENTITLED
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AN ACT
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relating to revenue sources that may be deposited into a |
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municipality or county venue project fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 334.042(c), Local Government Code, is |
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amended to read as follows: |
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(c) The municipality or county may deposit into the venue |
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project fund: |
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(1) money received by the municipality or county from |
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innovative funding concepts such as the sale or lease of luxury |
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boxes or the sale of licenses for personal seats; and |
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(2) any other revenue received by the municipality or |
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county from the approved venue project, including stadium rental |
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payments and revenue from concessions and parking; and |
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(3) all or a portion of any revenues the municipality |
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or county receives from bonuses, delay rentals, royalties, and any |
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other payments the municipality or county receives as the owner of |
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oil, gas and other mineral interests; and |
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(4) all or a portion of any revenues the municipality |
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or county receives from the fees imposed by a joint operating board |
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to which a municipality or county is a party; and |
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(5) any other revenue the municipality by ordinance or |
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the county by order determines is appropriate for use in financing a |
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venue project and related infrastructure. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |