Relating to the imposition, use, rebate, and refund of certain taxes related to certain hotel business revenue.
Impact
The bill is designed to stimulate economic growth in Texas by empowering certain municipalities to generate additional revenue through hotel occupancy taxes. By providing eligibility based on specific criteria, municipalities may be better positioned to enhance their infrastructure and attract more tourism and business events. This could lead to improvements in local economies, as increased funding for convention centers may result in a more competitive hospitality and tourism sector.
Summary
Senate Bill 977 aims to amend the Tax Code regarding the imposition and use of the municipal hotel occupancy tax by specific eligible central municipalities in Texas. It establishes criteria for municipalities that can benefit from this tax, particularly focusing on those that have adopted capital improvement plans for their convention center facilities. Eligible municipalities are defined as those having a population exceeding 140,000 but less than 1.5 million, located in counties with a population of over one million, or those with a population of 250,000 or more located on barrier islands bordering the Gulf of Mexico.
Contention
A possible point of contention regarding SB977 could arise from the special treatment of eligible municipalities. Concerns may be expressed about fairness and equity, particularly from municipalities that do not meet the specified criteria but may also benefit from enhanced hotel occupancy revenues. Opponents might argue this creates an uneven playing field and could lead to disparities in economic development opportunities across the state. Additionally, discussions may focus on the implications of relying heavily on tax rebates and the overall fiscal impact on local government revenue streams.
Relating to the authority of certain municipalities to authorize and finance certain venue projects and to use municipal hotel occupancy tax revenue for certain of those projects; authorizing the imposition of a tax.
Relating to the authority of certain municipalities to authorize and finance certain venue projects and to use municipal hotel occupancy tax revenue for certain of those projects; authorizing the imposition of a tax.
Relating to the use of hotel occupancy tax revenue by certain municipalities and counties and the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.
Relating to the use of hotel occupancy tax revenue by certain municipalities and counties and the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.
Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.
Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.
Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.