Bill Text: TX HB3341 | 2011-2012 | 82nd Legislature | Engrossed
Bill Title: Relating to the rebate, refund, or payment of tax proceeds to a qualified hotel project.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2011-05-13 - Referred to Economic Development [HB3341 Detail]
Download: Texas-2011-HB3341-Engrossed.html
| By: Anchia, Hartnett, Murphy, Harper-Brown, | H.B. No. 3341 | |
| Martinez Fischer | ||
|
|
||
|
|
||
| relating to the rebate, refund, or payment of tax proceeds to a | ||
| qualified hotel project. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 2303.5055, Government Code, is amended | ||
| by adding Subsection (f) to read as follows: | ||
| (f) Notwithstanding any other law, the comptroller shall | ||
| deposit eligible taxable proceeds that were collected by or | ||
| forwarded to the comptroller, and to which the qualified hotel | ||
| project is entitled according to an agreement under this section, | ||
| in trust in a separate suspense account of the project. A suspense | ||
| account is outside the state treasury, and the comptroller may make | ||
| a rebate, refund, or payment authorized by this section without the | ||
| necessity of an appropriation. The comptroller shall rebate, | ||
| refund, or pay to each qualified hotel project eligible taxable | ||
| proceeds to which the project is entitled under this section at | ||
| least quarterly. | ||
| SECTION 2. Section 151.429(h), Tax Code, is amended to read | ||
| as follows: | ||
| (h) Notwithstanding the other provisions of this section, | ||
| the owner of a qualified hotel project shall receive a rebate, | ||
| refund, or payment of 100 percent of the sales and use taxes paid or | ||
| collected by the qualified hotel project or businesses located in | ||
| the qualified hotel project pursuant to this chapter and 100 | ||
| percent of the hotel occupancy taxes paid by persons for the use or | ||
| possession of or for the right to the use or possession of a room or | ||
| space at the qualified hotel project pursuant to the provisions of | ||
| Chapter 156 during the first 10 years after such qualified hotel | ||
| project is open for initial occupancy. The comptroller shall | ||
| deposit the taxes in trust in a separate suspense account of the | ||
| qualified hotel project. A suspense account is outside the state | ||
| treasury, and the comptroller may make a rebate, refund, or payment | ||
| authorized by this section without the necessity of an | ||
| appropriation. The comptroller shall rebate, refund, or pay to | ||
| each qualified hotel project eligible taxable proceeds to which the | ||
| project is entitled under this section at least monthly. | ||
| SECTION 3. This Act takes effect September 1, 2011. | ||
