| 1 | 1 | | 86R6324 CJC-F |
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| 2 | 2 | | By: Bonnen of Galveston H.B. No. 4524 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the authority of certain municipalities to pledge |
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| 8 | 8 | | certain tax revenue for the payment of obligations related to |
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| 9 | 9 | | multipurpose convention center facility projects. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Subchapter B, Chapter 351, Tax Code, is amended |
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| 12 | 12 | | by adding Section 351.1021 to read as follows: |
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| 13 | 13 | | Sec. 351.1021. PLEDGE FOR BONDS BY CERTAIN MUNICIPALITIES. |
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| 14 | 14 | | (a) In this section: |
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| 15 | 15 | | (1) "Eligible municipality" means a municipality |
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| 16 | 16 | | described by Section 351.102(e)(9). |
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| 17 | 17 | | (2) "Multipurpose convention center facility project" |
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| 18 | 18 | | means a project that consists of an existing hotel owned by an |
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| 19 | 19 | | eligible municipality or another person and a multipurpose |
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| 20 | 20 | | convention center facility to be acquired, constructed, equipped, |
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| 21 | 21 | | or leased by the municipality that will be located within one mile |
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| 22 | 22 | | of the hotel, including: |
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| 23 | 23 | | (A) any new or existing business located in the |
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| 24 | 24 | | municipality that is within 1,000 feet of the outer boundary of any |
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| 25 | 25 | | component part of the multipurpose convention center facility |
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| 26 | 26 | | project; and |
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| 27 | 27 | | (B) any related transportation infrastructure |
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| 28 | 28 | | necessary to operate the multipurpose convention center facility. |
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| 29 | 29 | | (3) "Related transportation infrastructure" means: |
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| 30 | 30 | | (A) one or more parking facilities; and |
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| 31 | 31 | | (B) a shuttle system that connects a multipurpose |
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| 32 | 32 | | convention center facility to a hotel, to a parking facility, or to |
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| 33 | 33 | | a hotel and a parking facility. |
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| 34 | 34 | | (b) An eligible municipality is entitled to receive all |
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| 35 | 35 | | funds from a multipurpose convention center facility project that |
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| 36 | 36 | | the owner of a project could receive under Section 151.429(h) of |
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| 37 | 37 | | this code or Section 2303.5055, Government Code, if a project for |
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| 38 | 38 | | purposes of those provisions included a multipurpose convention |
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| 39 | 39 | | center facility project. |
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| 40 | 40 | | (c) An eligible municipality may pledge the funds to which |
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| 41 | 41 | | the municipality is entitled under Subsection (b) for the payment |
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| 42 | 42 | | of bonds or other obligations issued or incurred to acquire, lease, |
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| 43 | 43 | | construct, or equip the multipurpose convention center facility |
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| 44 | 44 | | project. |
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| 45 | 45 | | (d) The comptroller shall deposit the funds in a separate |
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| 46 | 46 | | suspense account of the eligible municipality outside the state |
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| 47 | 47 | | treasury. The comptroller may make a rebate, refund, or payment |
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| 48 | 48 | | authorized under this section without the necessity of an |
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| 49 | 49 | | appropriation. The comptroller shall rebate, refund, or pay to the |
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| 50 | 50 | | eligible municipality the funds to which the municipality is |
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| 51 | 51 | | entitled under this section at least monthly. |
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| 52 | 52 | | (e) Section 351.102(g) does not apply to the receipt or |
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| 53 | 53 | | pledge of funds authorized under this section. |
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| 54 | 54 | | SECTION 2. This Act takes effect immediately if it receives |
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| 55 | 55 | | a vote of two-thirds of all the members elected to each house, as |
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| 56 | 56 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 57 | 57 | | Act does not receive the vote necessary for immediate effect, this |
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| 58 | 58 | | Act takes effect September 1, 2019. |
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