| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 86R3550 SMT-F | |
| 2 | 2 | By: Sanford H.B. No. 3363 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the authority of certain municipalities to pledge | |
| 8 | 8 | certain tax revenue for the payment of obligations related to hotel | |
| 9 | 9 | projects. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 351.102(g), Tax Code, is amended to read | |
| 12 | 12 | as follows: | |
| 13 | 13 | (g) A municipality to which this section applies may not | |
| 14 | 14 | receive or pledge revenue or funds under Subsection (b) or (c) for a | |
| 15 | 15 | hotel project unless the municipality enters into an agreement with | |
| 16 | 16 | a person for the development of the hotel project before September | |
| 17 | 17 | 1, 2021 [2019]. | |
| 18 | 18 | SECTION 2. This Act takes effect immediately if it receives | |
| 19 | 19 | a vote of two-thirds of all the members elected to each house, as | |
| 20 | 20 | provided by Section 39, Article III, Texas Constitution. If this | |
| 21 | 21 | Act does not receive the vote necessary for immediate effect, this | |
| 22 | 22 | Act takes effect September 1, 2019. |