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| 3 | 5 | | |
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| 4 | 6 | | A BILL TO BE ENTITLED |
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| 5 | 7 | | AN ACT |
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| 6 | 8 | | relating to the authority of certain municipalities and local |
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| 7 | 9 | | government corporations to use certain tax revenue for certain |
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| 8 | 10 | | qualified projects. |
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| 9 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 12 | | SECTION 1. Section 351.1015, Tax Code, is amended by |
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| 11 | 13 | | amending Subsection (k) to read as follows: |
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| 12 | 14 | | This subsection applies only toFor a municipality described |
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| 13 | 15 | | by Subsection (b)(2),. tThe term "qualified project" means only a |
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| 14 | 16 | | convention center facility or a venue described by Section |
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| 15 | 17 | | 334.001(4)(A), Local Government Code, and any related |
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| 16 | 18 | | infrastructure. Commencement of any one qualified project |
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| 17 | 19 | | designated by the municipality in accordance with this Section |
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| 18 | 20 | | within the specified period described in Subsection (g) shall |
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| 19 | 21 | | satisfy the requirements of that subsection and permit the use of |
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| 20 | 22 | | project financing zone revenues on all designated qualified |
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| 21 | 23 | | projects. |
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| 22 | 24 | | SECTION 2. Section 351.1015, Tax Code, is amended by adding |
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| 23 | 25 | | Subsection (1) to read as follows: |
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| 24 | 26 | | (1) A municipality described by Subsection (b)(2), after |
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| 25 | 27 | | designation of a project financing zone under Subsection (a)(4) and |
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| 26 | 28 | | notification to the comptroller under Subsection (f), may, by |
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| 27 | 29 | | ordinance, designate additional qualified projects within a zone, |
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| 28 | 30 | | provided that any such additional qualified project shall: |
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| 29 | 31 | | (1) comply with the requirements of Subsection (k); |
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| 30 | 32 | | (2) with respect to an outer wall of the added qualified |
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| 31 | 33 | | project, be within 1,000 feet of the outer wall of an |
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| 32 | 34 | | already-designated qualified project; and |
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| 33 | 35 | | (3) not act to extend the duration or boundaries of the |
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| 34 | 36 | | established project financing zone or the period of time by which |
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| 35 | 37 | | the requirements of Subsection (g) are satisfied. |
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| 36 | 38 | | A municipality that adds a qualified project to a project |
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| 37 | 39 | | financing zone under this Subsection shall notify the comptroller |
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| 38 | 40 | | of such addition not later than the 30th day after the date the |
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| 39 | 41 | | municipality adopts the ordinance adding such qualified project. |
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| 40 | 42 | | Upon provision of such notice to the Comptroller, the added |
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| 41 | 43 | | qualified project shall constitute a qualified project for all |
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| 42 | 44 | | purposes of this Section except for establishing the boundaries and |
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| 43 | 45 | | duration of the project financing zone under Subsection (a)(4) and |
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| 44 | 46 | | for determining compliance with the requirements of Subsection (g). |
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| 45 | 47 | | SECTION 2. This Act takes effect September 1, 2025. |
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