| 1 | 1 | | 82R22605 CJC-D |
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| 2 | 2 | | By: Anchia, Hartnett, Murphy, Harper-Brown, H.B. No. 3341 |
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| 3 | 3 | | Martinez Fischer |
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| 4 | 4 | | Substitute the following for H.B. No. 3341: |
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| 5 | 5 | | By: Hilderbran C.S.H.B. No. 3341 |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | A BILL TO BE ENTITLED |
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| 9 | 9 | | AN ACT |
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| 10 | 10 | | relating to the rebate, refund, or payment of tax proceeds to a |
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| 11 | 11 | | qualified hotel project. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Section 2303.5055, Government Code, is amended |
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| 14 | 14 | | by adding Subsection (f) to read as follows: |
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| 15 | 15 | | (f) Notwithstanding any other law, the comptroller shall |
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| 16 | 16 | | deposit eligible taxable proceeds that were collected by or |
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| 17 | 17 | | forwarded to the comptroller in relation to a qualified hotel |
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| 18 | 18 | | project and to which the project is entitled in trust in a separate |
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| 19 | 19 | | suspense account of the project. A suspense account is outside the |
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| 20 | 20 | | state treasury, and the comptroller may make a rebate, refund, or |
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| 21 | 21 | | payment authorized by this section without the necessity of an |
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| 22 | 22 | | appropriation. The comptroller shall rebate, refund, or pay to |
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| 23 | 23 | | each qualified hotel project eligible taxable proceeds to which the |
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| 24 | 24 | | project is entitled under this section at least quarterly. |
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| 25 | 25 | | SECTION 2. Section 151.429(h), Tax Code, is amended to read |
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| 26 | 26 | | as follows: |
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| 27 | 27 | | (h) Notwithstanding the other provisions of this section, |
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| 28 | 28 | | the owner of a qualified hotel project shall receive a rebate, |
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| 29 | 29 | | refund, or payment of 100 percent of the sales and use taxes paid or |
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| 30 | 30 | | collected by the qualified hotel project or businesses located in |
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| 31 | 31 | | the qualified hotel project pursuant to this chapter and 100 |
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| 32 | 32 | | percent of the hotel occupancy taxes paid by persons for the use or |
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| 33 | 33 | | possession of or for the right to the use or possession of a room or |
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| 34 | 34 | | space at the qualified hotel project pursuant to the provisions of |
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| 35 | 35 | | Chapter 156 during the first 10 years after such qualified hotel |
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| 36 | 36 | | project is open for initial occupancy. The comptroller shall |
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| 37 | 37 | | deposit and rebate, refund, or pay the taxes described by this |
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| 38 | 38 | | subsection as provided by Section 2303.5055(f), Government Code. |
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| 39 | 39 | | SECTION 3. Section 351.102, Tax Code, is amended by adding |
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| 40 | 40 | | Subsection (d) to read as follows: |
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| 41 | 41 | | (d) The comptroller shall deposit and rebate, refund, or pay |
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| 42 | 42 | | the taxes described by Subsection (c) that are collected by or |
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| 43 | 43 | | forwarded to the comptroller as provided by Section 2303.5055(f), |
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| 44 | 44 | | Government Code. |
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| 45 | 45 | | SECTION 4. This Act takes effect September 1, 2011. |
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