88R10034 CJC-F
By: Geren H.B. No. 2608
A BILL TO BE ENTITLED
AN ACT
relating to the use by certain municipalities of certain tax
revenue to fund convention center facilities, multipurpose arenas,
venues, and related infrastructure.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 351.1015, Tax Code, is amended by
amending Subsection (b) and adding Subsection (j) to read as
follows:
(b) This section applies only to a qualified project located
in a municipality with a population of at least 850,000 [650,000]
but less than 950,000 [750,000] according to the most recent
federal decennial census.
(j) Notwithstanding any other law or a term of any ordinance
or agreement adopted or entered into under this section, due to the
effect of the COVID-19 pandemic on hotel-associated revenues, the
date on which a project financing zone designated under this
section expires is automatically extended for two years if the zone
was:
(1) designated by a municipality as a project
financing zone in or before 2019; and
(2) in existence on March 15, 2020.
SECTION 2. This Act takes effect September 1, 2023.