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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of certain municipalities to pledge |
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certain tax revenue for the payment of obligations related to hotel |
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projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 351.102(g), Tax Code, is amended to read |
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as follows: |
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(g) A municipality to which this section applies may not |
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receive or pledge revenue or funds under Subsection (b) or (c) for a |
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hotel project unless the municipality enters into an agreement with |
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a person for the development of the hotel project before September |
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1, 2021 [2019]. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2019. |