89R11809 RDS-F
By: Tepper H.B. No. 2408
A BILL TO BE ENTITLED
AN ACT
relating to the authority of certain municipalities to pledge
certain tax revenue for the payment of obligations related to, and
receive certain tax revenue derived from, a hotel and convention
center project.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 351.1022(a), Tax Code, is amended to
read as follows:
(a) This section applies only to:
(1) a municipality described by Section
351.102(e)(3); and
(2) a municipality described by Section 351.152(14).
SECTION 2. Section 351.157(e), Tax Code, is amended to read
as follows:
(e) A municipality to which this section applies, other than
a municipality described by Section 351.152(14), is not entitled to
receive revenue under Subsection (d) unless the municipality
commences a qualified project under this subchapter before
September 1, 2027.
SECTION 3. 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, 2025.