Amend CSHB 4347 (house committee report) by adding the following appropriately numbered SECTION to the bill and renumbering the SECTIONS of the bill accordingly:
SECTION ____. Subchapter B, Chapter 351, Tax Code, is amended by adding Section 351.1023 to read as follows:
Sec. 351.1023. PLEDGE OR COMMITMENT OF CERTAIN TAX REVENUE FOR CERTAIN MILITARY MUSEUMS AND CONFERENCE CENTERS. (a) In this section:
(1) "Eligible municipality" means a municipality with a population of less than 20,000.
(2) "Qualified project" means a project to construct and equip a military museum and conference center located in an eligible municipality on land donated for that purpose by an institution of higher education as defined by Section 61.003, Education Code, in this state.
(b) An eligible municipality is entitled to receive the funds derived from the hotel occupancy tax imposed under Chapter 156 that are generated, paid, and collected by a hotel in the eligible municipality. The eligible municipality is entitled to receive the funds for a period of 10 years beginning on the earlier of:
(1) the date the military museum that is part of the qualified project is open for initial occupancy; or
(2) the date the convention center that is part of the qualified project is open for initial occupancy.
(c) An eligible municipality may pledge or commit the funds derived from the tax imposed under this chapter and Chapter 156 to which the municipality is entitled for the payment of bonds, other obligations, or contractual obligations issued or incurred to construct and equip the qualified project.
(d) The comptroller shall deposit the funds to which an eligible municipality is entitled in a separate suspense account of the municipality outside the state treasury.
(e) The comptroller may make a rebate, refund, or payment authorized under this section without the necessity of an appropriation. The comptroller shall rebate, refund, or pay to the eligible municipality the funds to which the municipality is entitled at least quarterly.