Bill Text: TX HB2408 | 2025-2026 | 89th Legislature | Introduced
Bill Title: 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.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2025-02-04 - Filed [HB2408 Detail]
Download: Texas-2025-HB2408-Introduced.html
| 89R11809 RDS-F | ||
| By: Tepper | H.B. No. 2408 | |
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| 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. | ||
