Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1474 by Anderson, Charles "Doc" (Relating to a common characteristic or use project in a public improvement district in certain municipalities.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to add certain municipalities to an existing authorization relating to public improvement districts.
Local Government Impact
According to the City of Waco, the 15 hotels who would participate in the public improvement district (PID) would generate $1,070,360 in revenue per year. Revenue would be generated from an estimated 2 percent additional tax the PID would impose on hotels over 75 rooms.