TITLE: Relating to the entitlement of certain municipalities to receive and use tax revenue from certain establishments located near a hotel and convention center project.

SUMMARY: Relating to the entitlement of certain municipalities to receive and use tax revenue from certain establishments located near a hotel and convention center project.

FULL TEXT:
AN ACT relating to the entitlement of certain municipalities to receive and use tax revenue from certain establishments located near a hotel and convention center project. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 351.155, Tax Code, is amended by adding Subsection (c-1) to read as follows: (c-1) This subsection applies only to a municipality described by Section 351.152(12) that has a population of 130,000 or more. Notwithstanding Subsection (c), a municipality to which this subsection applies may pledge or commit revenue under this section for only two qualified projects. SECTION 2. Section 351.157, Tax Code, is amended by adding Subsection (b-1) to read as follows: (b-1) In addition to the municipalities described by Subsection (b), this section applies to a municipality described by Section 351.155(c-1). 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.