Texas Tax Code

§ 351.162 — RECAPTURE OF LOST STATE TAX REVENUE FROM CERTAIN MUNICIPALITIES

TX § 351.162Title 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

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(a)This section:

(1)applies only to a qualified project that is first commenced on or after:

(A)January 1, 2024, unless Paragraph (B) applies to the qualified project; or

(B)January 1, 2027, if the qualified project was authorized before January 1, 2023, by a municipality with a population of 175,000 or more; and

(2)notwithstanding Subdivision (1), does not apply to a qualified project that is the subject of an economic development agreement authorized by Chapter 380, Local Government Code, entered into on or before January 1, 2022.

(b)On the 20th anniversary of the date a hotel designated as a qualified hotel by a municipality as part of a qualified project to which this section applies is open for initial occupancy, the comptroller shall determine:

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Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 357 (S.B. 1420), Sec. 7, eff. June 2, 2023. Added by Acts 2023, 88th Leg., R.S., Ch. 643 (H.B. 3727), Sec. 8, eff. June 12, 2023.