| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the period during which certain municipalities may |
|
|
receive certain tax revenue associated with hotel and convention |
|
|
center projects. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 351.158, Tax Code, is amended to read as |
|
|
follows: |
|
|
Sec. 351.158. PERIOD OF ENTITLEMENT. (a) A municipality is |
|
|
entitled to receive revenue as provided by Sections 351.156 and |
|
|
351.157 until the 10th anniversary of the date the qualified hotel |
|
|
to which the entitlement relates is open for initial occupancy. |
|
|
(b) Notwithstanding Subsection (a), a municipality |
|
|
described by Section 351.152(10) is entitled to receive revenue as |
|
|
provided by Sections 351.156 and 351.157 until the 13th anniversary |
|
|
of the date the qualified hotel to which the entitlement relates is |
|
|
open for initial occupancy. |
|
|
SECTION 2. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2021. |