| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Wilson H.B. No. 4297 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to the period during which certain municipalities may | |
| 7 | 7 | receive certain tax revenue associated with hotel and convention | |
| 8 | 8 | center projects. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 351.158, Tax Code, is amended to read as | |
| 11 | 11 | follows: | |
| 12 | 12 | Sec. 351.158. PERIOD OF ENTITLEMENT. (a) A municipality is | |
| 13 | 13 | entitled to receive revenue as provided by Sections 351.156 and | |
| 14 | 14 | 351.157 until the 10th anniversary of the date the qualified hotel | |
| 15 | 15 | to which the entitlement relates is open for initial occupancy. | |
| 16 | 16 | (b) Notwithstanding Subsection (a), a municipality | |
| 17 | 17 | described by Section 351.152(10) is entitled to receive revenue as | |
| 18 | 18 | provided by Sections 351.156 and 351.157 until the 13th anniversary | |
| 19 | 19 | of the date the qualified hotel to which the entitlement relates is | |
| 20 | 20 | open for initial occupancy. | |
| 21 | 21 | SECTION 2. This Act takes effect immediately if it receives | |
| 22 | 22 | a vote of two-thirds of all the members elected to each house, as | |
| 23 | 23 | provided by Section 39, Article III, Texas Constitution. If this | |
| 24 | 24 | Act does not receive the vote necessary for immediate effect, this | |
| 25 | 25 | Act takes effect September 1, 2021. |