Amend CSHB 5012 (house committee printing) by adding the following appropriately numbered SECTIONS to the bill and renumbering the subsequent SECTIONS of the bill accordingly:
SECTION ____. Section 351.1015(a) (2), Tax Code, is amended to read as follows:
(2) "Hotel-associated revenue" means the sum of:
(A) state tax revenue collected in a project financing zone from all hotels located in the zone that would be available to the owners of qualified hotel projects under Section 151.429(h) if the hotels were qualified hotel projects, excluding the amount of that revenue received by a municipality:
(i) under Section 351.156 or 351.157 in connection with a qualified hotel located in the zone that exists on the date the municipality designates the zone, except as provided by Paragraph (B); or
(ii) under Section 351.102(c) for a hotel project described by Section 351.102(b) and located in the zone that exists on the date the municipality designates the zone; and
(B) tax revenue collected from all permittees under Chapter 183 at hotels located in the zone, excluding revenue disbursed by the comptroller under Section 183.051(b).
SECTION ____. Section 351.1015, Tax Code, is amended by amending Subsections (b) and (e) and adding Subsections (j) and (k) to read as follows:
(b) This section applies only to a qualified project located in:
(1) a municipality with a population of at least 650,000 but less than 750,000 according to the most recent federal decennial census;
(2) a municipality described by Section 351.001(7)(B); or
(3) a municipality described by Section 351.152(5).
(e) A municipality may pledge for the payment of bonds or other obligations described by Subsection (d) the local revenue from eligible tax proceeds as defined by Section 2303.5055(e), Government Code, from hotels located in a project financing zone that would be available to the owners of qualified hotel projects under that section if the hotels were qualified hotel projects, excluding any amount received by the municipality:
(1) in connection with a qualified hotel, as defined by Section 351.151, located in the zone that exists on the date the municipality designates the zone; or
(2) for a hotel project, described by Section 351.102(b) and located in the zone that exists on the date the municipality designates the zone.
(j) Notwithstanding Subsection (a)(4)(D) and except as otherwise provided by this subsection, the designation of a project financing zone by a municipality: described by Subsection (b)(2) must expire not later than the 10th anniversary of the date of designation. The legislature by adoption of a concurrent resolution approved by a record vote of a majority of the members of each house of the legislature may authorize a municipality described by Subsection (b)(2) to extend, in 10-year increments, a project financing zone designated by the municipality, provided that the zone may not be extended beyond the 30th anniversary of the date of designation.
(k) Notwithstanding any other provision of this section, a municipality described by Subsection (b)(2) may not designate a project financing zone under this section before January 1, 2025. This subsection expires September 1, 2025.