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TX SB2486
Bill
Status
3/13/2025
Primary Sponsor
Charles Schwertner
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AI Summary
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Amends Section 351.157(b) of the Texas Tax Code to expand the list of municipalities eligible to receive and pledge additional tax revenue from hotel and convention center projects
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Adds municipalities described under Section 351.152(51) to the existing list of qualifying municipalities that can use this funding mechanism
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Allows the newly added municipality to pledge hotel and convention center project tax revenue for the payment of financial obligations
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Takes effect immediately upon receiving a two-thirds vote in both legislative chambers, otherwise takes effect September 1, 2025
Legislative Description
Relating to the authority of certain municipalities to receive and pledge for the payment of obligations certain additional tax revenue derived from a hotel and convention center project.
Taxation
Last Action
Referred to Economic Development
4/3/2025