By: Troxclair H.B. No. 4090
A BILL TO BE ENTITLED
AN ACT
relating to the use of revenue attributable to the imposition of a
hotel occupancy tax by certain municipalities and counties for
venue projects and the period for which certain of those taxes may
be imposed.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 334.2515, Local Government Code, is
amended to read as follows:
Sec. 334.2515. APPLICATION. Except as provided by Sections
334.2516, [and] 334.2518, and 334.2519, this subchapter does not
apply to the financing of a venue project that is:
(1) an area described by Section 334.001(4)(C);
(2) an area or facility that is part of a municipal
parks and recreation system as described by Section 334.001(4)(D);
(3) a project described by Section 334.001(4)(E),
except for a project described by Section 334.001(4)(A); or
(4) a facility described by Section 334.001(4)(G).
SECTION 2. Subchapter H, Chapter 334, Local Government
Code, is amended by adding Section 334.2519 to read as follows:
Sec. 334.2519. USE OF REVENUE FOR CERTAIN VENUE PROJECTS.
(a) This section applies only to a venue project located in a
municipality with a population of 750,000 or more that is primarily
located in a county with a population of 1.5 million or less.
(b) A municipality or county may use revenue under this
subchapter to acquire, construct, improve, and equip a venue
project to which this section applies and related infrastructure to
be constructed on real property described by Section 334.2515(2).
In addition, the municipality or county may pledge the revenue to
the payment of bonds or other obligations the municipality or
county issues to finance the venue project infrastructure.
SECTION 3. Section 334.257, Local Government Code, is
amended by adding Subsection (c) to read as follows:
(c) This subsection applies only to a municipality with a
population of 750,000 or more that is primarily located in a county
with a population of 1.5 million or less. Notwithstanding
Subsection (b), a municipality to which this section applies may
impose a tax under this subchapter only until the earlier of:
(1) the date on which all bonds and other obligations
issued under Section 334.043 have been paid in full;
(2) the date on which the municipality has collected
the amount of money attributable to the tax imposed under this
subchapter that is sufficient to pay in full the bonds and other
obligations; or
(3) the date on which the total amount of money,
exclusive of guaranteed interest, necessary to pay in full the
bonds and other obligations has been set aside by the municipality
in a trust account dedicated to the payment of the bonds and other
obligations.
SECTION 4. This Act takes effect September 1, 2023.