87R10068 RDS-F
By: Stephenson H.B. No. 3097
A BILL TO BE ENTITLED
AN ACT
relating to entitlement of certain municipalities to receive tax
revenue from certain establishments located near a hotel and
convention center project.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 351.157, Tax Code, is amended by
amending Subsection (e) and adding Subsection (f) to read as
follows:
(e) A municipality to which this section applies is not
entitled to receive revenue under Subsection (d) unless the
municipality commences a qualified project under this subchapter
before September 1, 2025 [2023].
(f) For purposes of Subsection (e), a municipality
commences a qualified project on the date the municipality, by
ordinance or resolution:
(1) authorizes the issuance of bonds or other
obligations related to the qualified project; or
(2) executes or amends:
(A) a contract authorized by Chapter 380, Local
Government Code, related to the qualified project; or
(B) an interlocal agreement related to the
qualified project.
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, 2021.