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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of certain municipalities to receive |
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certain tax revenue derived from a hotel and convention center |
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project and to pledge certain tax revenue for the payment of |
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obligations related to the project. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 351.153(a), Tax Code, is amended to read |
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as follows: |
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(a) This section applies only to a municipality described by |
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Section 351.152(5), (6), (22), (29), or (58). |
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SECTION 2. Section 351.157(a), Tax Code, is amended to read |
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as follows: |
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(a) In this section, "qualified establishment" means an |
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establishment: |
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(1) that is located on land: |
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(A) owned by a municipality; or |
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(B) owned by: |
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(i) any person if the establishment is |
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located in a municipality described by Section 351.152(3) or (22); |
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(ii) the federal government if the |
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establishment is located in a municipality described by Section |
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351.152(6); or |
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(iii) a nonprofit corporation, including a |
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public facility corporation, that is acting as or on behalf of, or |
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that is controlled by, a municipality, if the establishment is |
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located in a municipality described by Section 351.152(5); |
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(2) the nearest exterior wall of which is located not |
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more than 1,000 feet from the nearest exterior wall of a qualified |
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hotel or qualified convention center facility; |
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(3) that is constructed: |
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(A) on or after the date the municipality |
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commences a qualified project under this subchapter; or |
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(B) at any time if the establishment is located |
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in a municipality described by Section 351.152(3); |
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(4) that is not a sports stadium; and |
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(5) that is the type of establishment described by |
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Subsection (c-1) from which the municipality is entitled to receive |
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revenue under Subsection (d). |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2025. |