By: Anchia, Hartnett, Murphy, Harper-Brown, H.B. No. 3341
Martinez Fischer
A BILL TO BE ENTITLED
AN ACT
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.