Amend SB 828 (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 351.1062 to read as follows:
Sec. 351.1062. ALLOCATION OF REVENUE: CERTAIN MUNICIPALITIES WITH CITY PARKS. (a) This section applies only to a municipality that:
(1) has a population of more than 7,500 but less than 12,000;
(2) has at least one hotel within 350 feet of a city park; and
(3) is wholly located in a county with a population of more than 1.8 million but less than 2.3 million.
(b) Notwithstanding any other provision of this chapter and subject to Subsections (c) and (d), a municipality to which this section applies may use revenue from the tax imposed under this chapter to promote tourism and the convention and hotel industry by constructing a sports facility and amphitheater.
(c) A municipality that uses revenue derived from the tax imposed under this chapter for the purpose described by Subsection (b):
(1) shall make a good-faith estimate of the amount of area hotel revenue that will be generated by events and activities held at the sports facility and amphitheater during the five-year period following the date on which construction is completed; and
(2) may not spend hotel occupancy tax revenue for the construction of the sports facility and amphitheater in a total amount that exceeds the amount of area hotel revenue estimated under Subdivision (1).
(d) At the end of the five-year period described by Subsection (c)(1), a municipality shall reimburse from the municipality's general fund to the municipality's hotel occupancy tax revenue fund any municipal hotel occupancy tax revenue spent on the construction of the sports facility and amphitheater in excess of the amount of area hotel revenue attributable to the sports facility and amphitheater during that period.