By: Wilson H.B. No. 4297
A BILL TO BE ENTITLED
AN ACT
relating to the period during which certain municipalities may
receive certain tax revenue associated with hotel and convention
center projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 351.158, Tax Code, is amended to read as
follows:
Sec. 351.158. PERIOD OF ENTITLEMENT. (a) A municipality is
entitled to receive revenue as provided by Sections 351.156 and
351.157 until the 10th anniversary of the date the qualified hotel
to which the entitlement relates is open for initial occupancy.
(b) Notwithstanding Subsection (a), a municipality
described by Section 351.152(10) is entitled to receive revenue as
provided by Sections 351.156 and 351.157 until the 13th anniversary
of the date the qualified hotel to which the entitlement relates is
open for initial occupancy.
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.