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A BILL TO BE ENTITLED
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AN ACT
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relating to the use by certain municipalities of certain tax |
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revenue to fund convention center facilities, multipurpose arenas, |
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venues, and related infrastructure. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 351.1015, Tax Code, is amended by |
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amending Subsection (b) and adding Subsection (j) to read as |
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follows: |
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(b) This section applies only to a qualified project located |
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in a municipality with a population of at least 850,000 [650,000] |
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but less than 950,000 [750,000] according to the most recent |
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federal decennial census. |
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(j) Notwithstanding any other law or a term of any ordinance |
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or agreement adopted or entered into under this section, due to the |
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effect of the COVID-19 pandemic on hotel-associated revenues, the |
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date on which a project financing zone designated under this |
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section expires is automatically extended for two years if the zone |
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was: |
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(1) designated by a municipality as a project |
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financing zone in or before 2019; and |
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(2) in existence on March 15, 2020. |
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SECTION 2. This Act takes effect September 1, 2023. |