LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION May 22, 2021 TO: Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development 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.), Committee Report 2nd House, Substituted 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, 2027. 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, AJL, BRI, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
May 22, 2021
TO: Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development 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.), Committee Report 2nd House, Substituted
TO: Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development
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.), Committee Report 2nd House, Substituted
Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development
Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development
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.), Committee Report 2nd House, Substituted
HB3097 by Stephenson (Relating to entitlement of certain municipalities to receive tax revenue from certain establishments located near a hotel and convention center project.), Committee Report 2nd House, Substituted
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, 2027. 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, AJL, BRI, KK, SD
JMc, AJL, BRI, KK, SD