Texas 2023 - 88th Regular

Texas House Bill HB2648 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	88R4715 SRA-F
2	2	By: Harless H.B. No. 2648
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the authority of certain municipalities and local
8	8	government corporations to use certain tax revenue for certain
9	9	qualified projects and project-associated infrastructure.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 351.1015(a), Tax Code, is amended by
12	12	adding Subdivision (4-a) to read as follows:
13	13	(4-a) "Project-associated infrastructure" means:
14	14	(A) a hotel, store, restaurant, concession,
15	15	automobile parking facility, theater, opera house, auditorium,
16	16	music hall, rehearsal hall, venue and related infrastructure,
17	17	entertainment facility, park, museum, plaza, recreational
18	18	facility, transportation facility, road, street, water or sewer
19	19	facility, or tourist development area that is:
20	20	(i) located in a project financing zone;
21	21	(ii) located on land owned, acquired, or
22	22	leased by a municipality or by a local government corporation to
23	23	which Subsection (j) applies; and
24	24	(iii) related to the promotion of tourism
25	25	and the convention and hotel industry; or
26	26	(B) the acquisition of public or private land and
27	27	related infrastructure that:
28	28	(i) is located in a project financing zone;
29	29	and
30	30	(ii) will be used in connection with a
31	31	purpose described by this subdivision.
32	32	SECTION 2. Section 351.1015, Tax Code, is amended by
33	33	amending Subsections (b), (c), (d), (g), and (i) and adding
34	34	Subsection (j) to read as follows:
35	35	(b) This section applies only to a qualified project and
36	36	project-associated infrastructure located in:
37	37	(1) a municipality with a population of at least
38	38	650,000 but less than 750,000 according to the most recent federal
39	39	decennial census; or
40	40	(2) a municipality with a population of at least two
41	41	million.
42	42	(c) In addition to the uses provided by Section 351.101,
43	43	revenue from the municipal hotel occupancy tax may be used to fund a
44	44	qualified project and project-associated infrastructure.
45	45	(d) A municipality may pledge the revenue derived from the
46	46	tax imposed under this chapter from a hotel located in the project
47	47	financing zone for the payment of bonds or other obligations issued
48	48	or incurred to acquire, lease, construct, improve, enlarge, and
49	49	equip the qualified project and project-associated infrastructure.
50	50	(g) The comptroller shall deposit incremental
51	51	hotel-associated revenue collected by or forwarded to the
52	52	comptroller in a separate suspense account to be held in trust for
53	53	the municipality that is entitled to receive the revenue. The
54	54	suspense account is outside the state treasury, and the comptroller
55	55	may make a payment authorized by this section from the account
56	56	without the necessity of an appropriation. The comptroller shall
57	57	begin making payments from the suspense account to the municipality
58	58	for which the money is held on the date the qualified project or
59	59	project-associated infrastructure in the project financing zone is
60	60	commenced. If the qualified project or project-associated
61	61	infrastructure is not commenced by the fifth anniversary of the
62	62	first deposit to the account, the comptroller shall transfer the
63	63	money in the account to the general revenue fund and cease making
64	64	deposits to the account.
65	65	(i) A municipality shall notify the comptroller if the
66	66	qualified project or project-associated infrastructure in the
67	67	project financing zone is abandoned. If the qualified project or
68	68	project-associated infrastructure is abandoned, the comptroller
69	69	shall transfer to the general revenue fund the amount of money in
70	70	the suspense account that exceeds the amount required for the
71	71	payment of bonds or other obligations described by Subsection (d).
72	72	(j) A local government corporation to which this subsection
73	73	applies may act as a municipality under this section and is
74	74	considered to be a municipality for purposes of this section. An
75	75	action a municipality is required to take by ordinance or order
76	76	under this section may be taken by order or resolution of the
77	77	corporation. This subsection applies only to a local government
78	78	corporation that:
79	79	(1) is authorized to collect a municipal hotel
80	80	occupancy tax;
81	81	(2) is located in a county with a population of 3.3
82	82	million or more; and
83	83	(3) operates a convention center facility located not
84	84	more than three miles from the city hall of the municipality in
85	85	which the convention center facility is located.
86	86	SECTION 3. This Act takes effect September 1, 2023.