Bill Text: TX HB4297 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the period during which certain municipalities may receive certain tax revenue associated with hotel and convention center projects.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-26 - Left pending in committee [HB4297 Detail]
Download: Texas-2021-HB4297-Introduced.html
By: Wilson | H.B. No. 4297 |
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relating to the period during which certain municipalities may | ||
receive certain tax revenue associated with hotel and convention | ||
center projects. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 351.158, Tax Code, is amended to read as | ||
follows: | ||
Sec. 351.158. PERIOD OF ENTITLEMENT. (a) A municipality is | ||
entitled to receive revenue as provided by Sections 351.156 and | ||
351.157 until the 10th anniversary of the date the qualified hotel | ||
to which the entitlement relates is open for initial occupancy. | ||
(b) Notwithstanding Subsection (a), a municipality | ||
described by Section 351.152(10) is entitled to receive revenue as | ||
provided by Sections 351.156 and 351.157 until the 13th anniversary | ||
of the date the qualified hotel to which the entitlement relates is | ||
open for initial occupancy. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2021. |