Bill > HB2408

This bill modifies provisions of the Texas Tax Code related to municipal authority for hotel and convention center projects by expanding the applicability of certain sections to include specific municipalities. The bill amends Section 351.1022(a) to apply to two types of municipalities as defined by specific subsections of the Tax Code, and modifies Section 351.157(e) to adjust revenue entitlement rules for municipalities undertaking qualified projects. Specifically, the bill removes revenue receiving restrictions for one type of municipality (described by Section 351.152(14)), while maintaining a September 1, 2027 deadline for other municipalities to commence a qualified project in order to receive certain revenues. The bill will take effect immediately if it receives a two-thirds vote in both legislative houses, otherwise it will take effect on September 1, 2025. The technical changes suggest the bill is tailored to address specific municipal project financing circumstances, likely related to a particular city or set of cities' hotel and convention center development plans.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB2408