Texas 2009 - 81st Regular

Texas Senate Bill SB1207 Compare Versions

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1	1	81R8962 JE-F
2	2	By: Seliger S.B. No. 1207
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the use of municipal hotel occupancy tax revenue to
8	8	finance a convention center hotel in certain municipalities.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 351.102, Tax Code, is amended by
11	11	amending Subsection (b) and adding Subsection (b-1) to read as
12	12	follows:
13	13	(b) An eligible central municipality or a municipality with
14	14	a population of 185,000 or more that is located within two counties
15	15	may pledge the revenue derived from the tax imposed under this
16	16	chapter from a hotel project that is owned by or located on land
17	17	owned by the municipality or, in an eligible central municipality,
18	18	by a nonprofit corporation acting on behalf of an eligible central
19	19	municipality, and that is located within 1,000 feet of a convention
20	20	center facility owned by the municipality for the payment of bonds
21	21	or other obligations issued or incurred to acquire, lease,
22	22	construct, and equip the hotel and any facilities ancillary to the
23	23	hotel, including shops and parking facilities. For bonds or other
24	24	obligations issued under this subsection, an eligible central
25	25	municipality or a municipality with a population of 185,000 or more
26	26	that is located within two counties may only pledge revenue or other
27	27	assets of the hotel project benefiting from those bonds or other
28	28	obligations.
29	29	(b-1) A municipality with a population of 185,000 or more
30	30	that is located within two counties may not pledge revenue under
31	31	Subsection (b) in relation to a particular hotel project after the
32	32	earlier of:
33	33	(1) the 20th anniversary of the date the municipality
34	34	first pledged the revenue to the hotel project; or
35	35	(2) the date the revenue pledged to the hotel project
36	36	equals 40 percent of the hotel project's total construction cost.
37	37	SECTION 2. Section 1504.001(b), Government Code, is amended
38	38	to read as follows:
39	39	(b) An eligible central municipality, as defined by Section
40	40	351.001, Tax Code, or a municipality with a population of 185,000 or
41	41	more that is located within two counties may establish, acquire,
42	42	lease as lessee or lessor, construct, improve, enlarge, equip,
43	43	repair, operate, or maintain a hotel, and any facilities ancillary
44	44	to the hotel, including shops and parking facilities, that are
45	45	owned by or located on land owned by the municipality or by a
46	46	nonprofit corporation acting on behalf of the municipality, and
47	47	that is located within 1,000 feet of a convention center facility
48	48	owned by the municipality.
49	49	SECTION 3. Section 1504.002(b), Government Code, is amended
50	50	to read as follows:
51	51	(b) An eligible central municipality, as defined by Section
52	52	351.001, Tax Code, or a municipality with a population of 185,000 or
53	53	more that is located within two counties by ordinance may issue
54	54	bonds or incur other obligations to acquire, lease, construct, or
55	55	equip a facility described by Section 1504.001(b).
56	56	SECTION 4. This Act takes effect September 1, 2009.