LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 11, 2021 TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3097 by Stephenson (Relating to entitlement of certain municipalities to receive tax revenue from certain establishments located near a hotel and convention center project.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Section 351.157, Tax Code, regarding municipalities eligible for additional entitlement to state sales tax and local mixed beverage tax revenue for qualified projects. The bill would amend Section 351.157(e) to extend the date of project commencement required to receive revenue under the section from before September 1, 2023, to before September 1, 2025. The bill would add Section 351.157(f) to clarify that a city commences a qualified project on the date the city by ordinance or resolution authorizes the issuance of bonds or other obligations related to the project or executes or amends a contract or interlocal agreement related to the project.Absent the extension of time for project commencement proposed by the bill, it would be expected that cities would take action for project commencement sufficient to meet the date for entitlement to revenue provided by current law. Consequently, the bill would have no fiscal implications for the state.The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2021. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, KK, SD, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 11, 2021
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3097 by Stephenson (Relating to entitlement of certain municipalities to receive tax revenue from certain establishments located near a hotel and convention center project.), As Introduced
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB3097 by Stephenson (Relating to entitlement of certain municipalities to receive tax revenue from certain establishments located near a hotel and convention center project.), As Introduced
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB3097 by Stephenson (Relating to entitlement of certain municipalities to receive tax revenue from certain establishments located near a hotel and convention center project.), As Introduced
HB3097 by Stephenson (Relating to entitlement of certain municipalities to receive tax revenue from certain establishments located near a hotel and convention center project.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Section 351.157, Tax Code, regarding municipalities eligible for additional entitlement to state sales tax and local mixed beverage tax revenue for qualified projects. The bill would amend Section 351.157(e) to extend the date of project commencement required to receive revenue under the section from before September 1, 2023, to before September 1, 2025. The bill would add Section 351.157(f) to clarify that a city commences a qualified project on the date the city by ordinance or resolution authorizes the issuance of bonds or other obligations related to the project or executes or amends a contract or interlocal agreement related to the project.Absent the extension of time for project commencement proposed by the bill, it would be expected that cities would take action for project commencement sufficient to meet the date for entitlement to revenue provided by current law. Consequently, the bill would have no fiscal implications for the state.The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2021.
Absent the extension of time for project commencement proposed by the bill, it would be expected that cities would take action for project commencement sufficient to meet the date for entitlement to revenue provided by current law. Consequently, the bill would have no fiscal implications for the state.The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2021.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, KK, SD, BRI
JMc, KK, SD, BRI