Texas 2017 - 85th Regular

Texas Senate Bill SB345 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	By: West S.B. No. 345
2		-	(Davis of Dallas)
	1	+	S.B. No. 345
3	2
4	3
5		-	A BILL TO BE ENTITLED
6	4		AN ACT
7	5		relating to the use of tax revenue by certain municipalities for the
8	6		payment of certain hotel-related bonds or other obligations.
9	7		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	8		SECTION 1. Section 351.102(b), Tax Code, is amended to read
11	9		as follows:
12	10		(b) An eligible central municipality, a municipality with a
13	11		population of 173,000 or more that is located within two or more
14	12		counties, a municipality with a population of 96,000 or more that is
15	13		located in a county that borders Lake Palestine or contains the
16	14		headwaters of the San Gabriel River, or a municipality with a
17	15		population of at least 99,900 but not more than 111,000 that is
18	16		located in a county with a population of at least 135,000 may pledge
19	17		the revenue derived from the tax imposed under this chapter from a
20	18		hotel project that is owned by or located on land owned by the
21	19		municipality or, in an eligible central municipality, by a
22	20		nonprofit corporation acting on behalf of an eligible central
23	21		municipality, and that is located within 1,000 feet of a convention
24	22		center facility owned by the municipality for the payment of bonds
25	23		or other obligations issued or incurred to acquire, lease,
26	24		construct, and equip the hotel and any facilities ancillary to the
27	25		hotel, including convention center entertainment-related
28	26		facilities, meeting spaces, restaurants, shops, street and water
29	27		and sewer infrastructure necessary for the operation of the hotel
30	28		or ancillary facilities, and parking facilities within 1,000 feet
31	29		of the hotel or convention center facility. A municipality with a
32	30		population of 173,000 or more that is located within two or more
33	31		counties may pledge for the payment of bonds or other obligations
34	32		described by this subsection the revenue derived from the tax
35	33		imposed under this chapter from a hotel project not owned by or
36	34		located on land owned by the municipality if the project is located
37	35		on land that is owned by the federal government and the project is
38	36		located within 1,000 feet of a convention center facility owned by
39	37		the municipality. For bonds or other obligations issued under this
40	38		subsection, an eligible central municipality or a municipality
41	39		described by this subsection may only pledge revenue or other
42	40		assets of the hotel project benefiting from those bonds or other
43	41		obligations.
44	42		SECTION 2. This Act takes effect immediately if it receives
45	43		a vote of two-thirds of all the members elected to each house, as
46	44		provided by Section 39, Article III, Texas Constitution. If this
47	45		Act does not receive the vote necessary for immediate effect, this
48	46		Act takes effect September 1, 2017.
	47	+	______________________________ ______________________________
	48	+	President of the Senate Speaker of the House
	49	+	I hereby certify that S.B. No. 345 passed the Senate on
	50	+	April 12, 2017, by the following vote: Yeas 27, Nays 4.
	51	+	______________________________
	52	+	Secretary of the Senate
	53	+	I hereby certify that S.B. No. 345 passed the House on
	54	+	May 9, 2017, by the following vote: Yeas 137, Nays 8, two present
	55	+	not voting.
	56	+	______________________________
	57	+	Chief Clerk of the House
	58	+	Approved:
	59	+	______________________________
	60	+	Date
	61	+	______________________________
	62	+	Governor