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 |
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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. |