TITLE: Relating to the Texas Media Production Fund.

SUMMARY: Relating to the Texas Media Production Fund.

FULL TEXT:
AN ACT relating to the Texas Media Production Fund. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: ARTICLE 1. TEXAS MEDIA PRODUCTION FUND SECTION 1. Subchapter C, Chapter 485, Government Code, is amended by adding Section 485.048 to read as follows: Sec. 485.048. TEXAS MEDIA PRODUCTION. (a) In this section, "Fund" means the Texas Media Production Fund established under Section 485.047, Government Code. (b) The Texas Media Production Fund is established as a trust fund outside the state treasury to be held by the comptroller and administered by the commission as trustee. Money in the fund may be spent without legislative appropriation and may be used only as provided by this chapter. Separate accounts may be established in the Texas Media Production Fund as determined by the Comptroller. Interest and other earnings on the balance of the fund shall be credited to the fund. (c) The fund consists of: (1) money transferred or deposited to the credit of the fund by general law, (2) the proceeds of any fee or tax imposed by this state that by statute is dedicated for deposit to the credit of the fund; (3) any other revenue that the legislature by statute dedicates for deposit to the credit of the fund; (4) investment earnings and interest earned on amounts credited to the fund; or (5) appropriations of state or federal funds as determined by the Legislature. (d) This fund may only be used for purposes allowed under Chapter 485, Subchapter B, Government Code. SECTION 2. Section 156.2511, Tax Code, is amended to read as follows: Sec. 156.2511. ALLOCATION OF CERTAIN REVENUE. (a) Not later than the last day of the month following a calendar quarter, the comptroller shall: (1) compute the amount of revenue derived from the collection of taxes imposed under this chapter at a rate of two percent and received from hotels located in an eligible coastal municipality that has created a park board of trustees to administer public beaches under Chapter 306, Local Government Code; and (2) issue to the eligible coastal municipality a warrant drawn on the general revenue fund in the amount computed under Subdivision (1). (b) An eligible coastal municipality may use money received under this section only to clean and maintain public beaches in that municipality. (c) Section 403.094(h), Government Code, does not apply to funds described by Subsection (a). (d) In this section: (1) "Eligible coastal municipality" has the meaning assigned by Section 351.001. (2) "Clean and maintain" has the meaning assigned by Section 61.063, Natural Resources Code. (e) On September 1 of each fiscal year an amount not to exceed $50,000,000 per year shall be transferred to the Texas Media Production Fund by appropriation from the Comptroller's Fiscal Affairs Programs in the General Appropriations Act. SECTION 3. Except as otherwise provided by this Act, this Act takes effect September 1, 2023.