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TX SB1517
Bill
Status
2/21/2025
Primary Sponsor
Charles Schwertner
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AI Summary
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Adds a new category of municipality (Subdivision 65) eligible for hotel and convention center project tax revenue: municipalities with population between 16,000-27,000 located in a county with 600,000+ residents that is adjacent to the county containing the State Capitol
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The newly eligible municipality can receive state hotel occupancy tax revenue generated by qualified hotel and convention center projects within its jurisdiction
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Authorizes the newly added municipality to pledge the hotel tax revenue for payment of bonds or other obligations related to hotel and convention center project development
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Amends Section 351.152 of the Tax Code to expand the list of municipalities qualifying for this special tax rebate program from 64 to 65 categories
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Takes effect immediately upon two-thirds vote of both legislative chambers, otherwise becomes effective September 1, 2025
Legislative Description
Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.
Taxation
Last Action
Referred to Economic Development
3/6/2025