Bill Text: TX SB1924 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the authority of certain municipalities to pledge certain tax revenue for the payment of obligations related to hotel projects.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-19 - Referred to Natural Resources & Economic Development [SB1924 Detail]
Download: Texas-2019-SB1924-Introduced.html
| 86R3550 SMT-F | ||
| By: Fallon | S.B. No. 1924 | |
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| relating to the authority of certain municipalities to pledge | ||
| certain tax revenue for the payment of obligations related to hotel | ||
| projects. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 351.102(g), Tax Code, is amended to read | ||
| as follows: | ||
| (g) A municipality to which this section applies may not | ||
| receive or pledge revenue or funds under Subsection (b) or (c) for a | ||
| hotel project unless the municipality enters into an agreement with | ||
| a person for the development of the hotel project before September | ||
| 1, 2021 [ |
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| 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. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2019. | ||
