Bill > SB940

This bill: 1. Allows certain municipalities that use hotel occupancy tax revenue or funds received under specific sections of the Tax Code for a qualified project to not reduce the percentage of that revenue allocated for certain tourism-related purposes below a specified level. 2. Expands the list of municipalities to which specific hotel occupancy tax provisions apply, including a municipality that is the county seat of a county bordering the Gulf of Mexico and the United Mexican States. 3. Entitles the specified municipality described in (2) to receive 75% of the revenue derived from certain taxes generated by a qualified hotel, related convention center facility, and associated establishments located in that municipality. 4. Extends the period during which the specified municipality in (2) is entitled to receive the revenue described in (3) from 10 years to 20 years. 5. Allows certain counties bordering the Gulf of Mexico and the United Mexican States to pledge up to 75% of the hotel occupancy tax revenue collected from hotels located in the county seat municipality towards the payment of bonds or obligations related to a qualified project in that municipality, while requiring the county to use at least 10% of the tax revenue for tourism-related purposes.

Agriculture and Natural Resources

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=SB940