TITLE: Relating to the period during which certain municipalities may receive certain tax revenue associated with hotel and convention center projects.

SUMMARY: Relating to the period during which certain municipalities may receive certain tax revenue associated with hotel and convention center projects.

FULL TEXT:
AN ACT relating to the period during which certain municipalities may receive certain tax revenue associated with hotel and convention center projects. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 351.158, Tax Code, is amended to read as follows: Sec. 351.158. PERIOD OF ENTITLEMENT. (a) A municipality is entitled to receive revenue as provided by Sections 351.156 and 351.157 until the 10th anniversary of the date the qualified hotel to which the entitlement relates is open for initial occupancy. (b) Notwithstanding Subsection (a), a municipality described by Section 351.152(10) is entitled to receive revenue as provided by Sections 351.156 and 351.157 until the 13th anniversary of the date the qualified hotel to which the entitlement relates is open for initial occupancy. SECTION 2. 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.