82R22605 CJC-D

By: Anchia, Hartnett, Murphy, Harper-Brown, H.B. No. 3341

Martinez Fischer

Substitute the following for H.B. No. 3341:

By: Hilderbran C.S.H.B. No. 3341

A BILL TO BE ENTITLED

AN ACT

relating to the rebate, refund, or payment of tax proceeds to a qualified hotel project.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 2303.5055, Government Code, is amended by adding Subsection (f) to read as follows:

(f) Notwithstanding any other law, the comptroller shall deposit eligible taxable proceeds that were collected by or forwarded to the comptroller in relation to a qualified hotel project and to which the project is entitled in trust in a separate suspense account of the project. A suspense account is outside the state treasury, and the comptroller may make a rebate, refund, or payment authorized by this section without the necessity of an appropriation. The comptroller shall rebate, refund, or pay to each qualified hotel project eligible taxable proceeds to which the project is entitled under this section at least quarterly.

SECTION 2. Section 151.429(h), Tax Code, is amended to read as follows:

(h) Notwithstanding the other provisions of this section, the owner of a qualified hotel project shall receive a rebate, refund, or payment of 100 percent of the sales and use taxes paid or collected by the qualified hotel project or businesses located in the qualified hotel project pursuant to this chapter and 100 percent of the hotel occupancy taxes paid by persons for the use or possession of or for the right to the use or possession of a room or space at the qualified hotel project pursuant to the provisions of Chapter 156 during the first 10 years after such qualified hotel project is open for initial occupancy. The comptroller shall deposit and rebate, refund, or pay the taxes described by this subsection as provided by Section 2303.5055(f), Government Code.

SECTION 3. Section 351.102, Tax Code, is amended by adding Subsection (d) to read as follows:

(d) The comptroller shall deposit and rebate, refund, or pay the taxes described by Subsection (c) that are collected by or forwarded to the comptroller as provided by Section 2303.5055(f), Government Code.

SECTION 4. This Act takes effect September 1, 2011.