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A BILL TO BE ENTITLED
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AN ACT
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relating to the rebate, refund, or payment of tax proceeds to a |
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qualified hotel project. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2303.5055, Government Code, is amended |
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by amending Subsection (a) and adding Subsection (f) to read as |
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follows: |
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(a) For a period that may not exceed 10 years, a |
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governmental body, including the state or a municipality, county, |
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or political subdivision of this state, may agree to rebate, |
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refund, or pay eligible taxable proceeds to the owner of a qualified |
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hotel project at which the eligible taxable proceeds were |
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generated. |
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(f) Notwithstanding any other law, the comptroller shall |
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deposit eligible taxable proceeds that were collected by or |
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forwarded to the comptroller in relation to a qualified hotel |
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project and to which the project is entitled in trust in a separate |
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suspense account of the project. A suspense account is outside the |
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state treasury, and the comptroller may make a rebate, refund, or |
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payment authorized by this section without the necessity of an |
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appropriation. The comptroller shall rebate, refund, or pay to |
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each qualified hotel project the hotel occupancy taxes and sales |
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and use taxes to which the project is entitled under this section at |
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least monthly. The comptroller shall rebate, refund, or pay mixed |
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beverage taxes at least quarterly. |
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SECTION 2. Section 151.429(h), Tax Code, is amended to read |
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as follows: |
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(h) Notwithstanding the other provisions of this section, |
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the owner of a qualified hotel project shall receive a rebate, |
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refund, or payment of 100 percent of the sales and use taxes paid or |
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collected by the qualified hotel project or businesses located in |
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the qualified hotel project pursuant to this chapter and 100 |
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percent of the hotel occupancy taxes paid by persons for the use or |
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possession of or for the right to the use or possession of a room or |
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space at the qualified hotel project pursuant to the provisions of |
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Chapter 156 during the first 10 years after such qualified hotel |
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project is open for initial occupancy. The comptroller shall |
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deposit and rebate, refund, or pay the taxes described by this |
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subsection as provided by Section 2303.5055(f), Government Code. |
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SECTION 3. Section 351.102, Tax Code, is amended by adding |
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Subsection (d) to read as follows: |
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(d) The comptroller shall deposit and rebate, refund, or pay |
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the taxes described by Subsection (c) that are collected by or |
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forwarded to the comptroller as provided by Section 2303.5055(f), |
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Government Code. |
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SECTION 4. This Act takes effect September 1, 2011. |