Amend HB 1942 (house committee report) on page 35, between lines 21 and 22, by inserting the following:
Sec. 2005.261. ALLOCATION OF TAX REVENUE TO CERTAIN POLITICAL SUBDIVISIONS. (a) A political subdivision, including a venue district created under Chapter 335, Local Government Code, may establish an account for receipt of net revenue under this section if the political subdivision issued bonds or other obligations to finance all or a portion of the construction costs of a publicly owned sports facility.
(b) Notwithstanding Section 2005.258, if an interactive sports wagering operator or the operator's sports entity designee leases a publicly owned sports facility financed, wholly or partly, by a political subdivision that establishes an account under Subsection (a), 1.75 percent of the net revenue from the tax imposed under this subchapter and collected from the interactive sports wagering operator that would otherwise be deposited under Section 2005.258(2) shall be deposited into the political subdivision's account.
(c) Net revenue deposited into a political subdivision's account under Subsection (b) may be used only to pay or finance the costs of capital improvements to the publicly owned sports facility.
(d) If the publicly owned sports facility is an approved venue project under Chapter 334 or 335, Local Government Code, net tax revenue deposited into the political subdivision's account under Subsection (b) is a method of financing authorized by Chapter 334 or 335, Local Government Code, for purposes of the applicable chapter without any additional election required under the applicable chapter.