Texas Tax Code
§ 351.155 — PLEDGE OR COMMITMENT OF CERTAIN TAX REVENUE FOR OBLIGATIONS FOR QUALIFIED PROJECT
TX § 351.155Title 3. LOCAL TAXATION · Part D. LOCAL HOTEL OCCUPANCY TAXES · Ch. 351. MUNICIPAL HOTEL OCCUPANCY TAXES · Art. C. MUNICIPAL HOTEL AND CONVENTION CENTER PROJECTS
Statute text
View on source(a)In addition to the authority of a municipality to issue debt under Chapter 1504, Government Code, a municipality may pledge or commit the revenue derived from the tax imposed under this chapter from a qualified hotel and the revenue to which the municipality is entitled under Section 351.156 and, if applicable, Section 351.157 for the payment of:
(1)bonds or other obligations issued for a qualified project; and
(2)contractual obligations related to the project, including obligations under:
(A)a contract authorized by Chapter 380, Local Government Code, for the project; and
(B)an interlocal agreement directly related to the project.
(b)A municipality may pledge or commit revenue for the payment of bonds, other obligations, or contractual obligations under Subsection (a) only if the qualified hotel that is a component of the qualified project for which that revenue is pledged or committed benefits from the pledging or committing of that revenue.
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Legislative history
Acts 2025, 89th Leg., R.S., Ch. 302 (S.B. 529), Sec. 1, eff. May 30, 2025.