Texas 2017 - 85th Regular

Texas Senate Bill SB1354 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		By: West S.B. No. 1354
2		-	(In the Senate - Filed March 6, 2017; March 16, 2017, read
3		-	first time and referred to Committee on Natural Resources &
4		-	Economic Development; April 27, 2017, reported adversely, with
5		-	favorable Committee Substitute by the following vote: Yeas 7,
6		-	Nays 0, 3 present not voting; April 27, 2017, sent to printer.)
7		-	Click here to see the committee vote
8		-	COMMITTEE SUBSTITUTE FOR S.B. No. 1354 By: Garcia
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10	3
11	4		A BILL TO BE ENTITLED
12	5		AN ACT
13	6		relating to the authority of certain municipalities to pledge
14	7		certain tax revenue for the payment of obligations related to hotel
15	8		projects.
16	9		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
17	10		SECTION 1. Section 351.102, Tax Code, is amended by
18	11		amending Subsections (b), (c), and (d) and adding Subsection (e) to
19	12		read as follows:
20	13		(b) An eligible central municipality, a municipality with a
21	14		population of 173,000 or more that is located within two or more
22	15		counties, a municipality with a population of 96,000 or more that is
23	16		located in a county that borders Lake Palestine or contains the
24	17		headwaters of the San Gabriel River, or a municipality with a
25	18		population of at least 99,900 but not more than 111,000 that is
26	19		located in a county with a population of at least 135,000 may pledge
27	20		the revenue derived from the tax imposed under this chapter from a
28	21		hotel project that is owned by or located on land owned by the
29	22		municipality or, in an eligible central municipality, by a
30	23		nonprofit corporation acting on behalf of an eligible central
31	24		municipality, and that is located within 1,000 feet of a convention
32	25		center facility owned by the municipality for the payment of bonds
33	26		or other obligations issued or incurred to acquire, lease,
34	27		construct, and equip the hotel and any facilities ancillary to the
35	28		hotel, including convention center entertainment-related
36	29		facilities, meeting spaces, restaurants, shops, street and water
37	30		and sewer infrastructure necessary for the operation of the hotel
38	31		or ancillary facilities, and parking facilities within 1,000 feet
39	32		of the hotel or convention center facility. For bonds or other
40	33		obligations issued under this subsection, an eligible central
41	34		municipality or a municipality described by this subsection or
42	35		Subsection (e) may only pledge revenue or other assets of the hotel
43	36		project benefiting from those bonds or other obligations.
44	37		(c) A municipality to which Subsection (b) or (e) applies is
45	38		entitled to receive all funds from a project described by this
46	39		section that an owner of a project may receive under Section
47	40		151.429(h) of this code, or Section 2303.5055, Government Code, and
48	41		may pledge the funds for the payment of obligations issued under
49	42		this section.
50	43		(d) Except as provided by this subsection, an eligible
51	44		central municipality or another municipality described by
52	45		Subsection (b) or (e) that uses revenue derived from the tax imposed
53	46		under this chapter or funds received under Subsection (c) for a
54	47		hotel project described by Subsection (b) may not reduce the
55	48		percentage of revenue from the tax imposed under this chapter and
56	49		allocated for a purpose described by Section 351.101(a)(3) to a
57	50		percentage that is less than the average percentage of that revenue
58	51		allocated by the municipality for that purpose during the 36-month
59	52		period preceding the date the municipality begins using the revenue
60	53		or funds for the hotel project. This subsection does not apply to
61	54		an eligible central municipality described by Section
62	55		351.001(7)(D).
63	56		(e) In addition to the municipalities described by
64	57		Subsection (b), that subsection also applies to a municipality
65	58		that:
66	59		(1) contains a portion of Cedar Hill State Park;
67	60		(2) has a population of more than 45,000;
68	61		(3) is located in two counties, one of which has a
69	62		population of more than two million and one of which has a
70	63		population of more than 149,000; and
71	64		(4) has adopted a capital improvement plan for the
72	65		construction or expansion of a convention center facility.
73	66		SECTION 2. This Act takes effect immediately if it receives
74	67		a vote of two-thirds of all the members elected to each house, as
75	68		provided by Section 39, Article III, Texas Constitution. If this
76	69		Act does not receive the vote necessary for immediate effect, this
77	70		Act takes effect September 1, 2017.
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