84R23073 TJB-F
By: Gonzales H.B. No. 3113
Substitute the following for H.B. No. 3113:
By: Button C.S.H.B. No. 3113
A BILL TO BE ENTITLED
AN ACT
relating to the authority of certain municipalities to pledge
revenue from the municipal hotel occupancy tax for the payment of
obligations related to hotel projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 351.102(b), Tax Code, is amended to read
as follows:
(b) An eligible central municipality, [or] a municipality
with a population of 173,000 or more that is located within two or
more counties, or a municipality with a population of 96,000 or more
that is located in a county that borders Lake Palestine or contains
the headwaters of the San Gabriel River may pledge the revenue
derived from the tax imposed under this chapter from a hotel project
that is owned by or located on land owned by or that will be owned by
the municipality or, in an eligible central municipality, by a
nonprofit corporation acting on behalf of an eligible central
municipality, and that is located within 1,000 feet of a convention
center facility owned by the municipality for the payment of bonds
or other obligations issued or incurred to acquire, lease,
construct, and equip the hotel and any facilities ancillary to the
hotel, including convention center entertainment-related
facilities, meeting spaces, public spaces, including open public
spaces used for connectivity, plazas, restaurants, shops, street
and water and sewer infrastructure, and parking facilities within
1,000 feet of the hotel or convention center facility. For bonds or
other obligations issued under this subsection, an eligible central
municipality or a municipality described by this subsection [with a
population of 173,000 or more that is located within two counties]
may only pledge revenue or other assets of the hotel project
benefiting from those bonds or other obligations.
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, 2015.