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TX HB2408
Bill
Status
2/4/2025
Primary Sponsor
Carl Tepper
Click for details
AI Summary
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Expands Section 351.1022(a) of the Tax Code to include municipalities described by Section 351.152(14), in addition to those already covered under Section 351.102(e)(3), allowing these municipalities to pledge tax revenue for hotel and convention center project obligations
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Exempts municipalities described by Section 351.152(14) from the requirement that other municipalities must commence a qualified project before September 1, 2027 to receive certain tax revenue
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Takes effect immediately upon receiving a two-thirds vote of all members elected to each house of the legislature, otherwise takes effect September 1, 2025
Legislative Description
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.
Taxation
Last Action
Left pending in committee
4/7/2025