S.B. No. 1483 amends Section 351.152 of the Texas Tax Code to expand the list of municipalities eligible to receive certain tax revenues derived from hotel and convention center projects. The bill introduces a new category, specifically (3-a) a municipality described by Section 351.001(11);, thereby allowing additional municipalities to access these funds. This change aims to enhance the financial resources available for local development projects related to tourism and convention facilities. The bill stipulates that municipalities can pledge certain tax revenues for obligations associated with these projects, thereby providing a mechanism for financing improvements and expansions of convention centers. The act will take effect immediately if it secures a two-thirds majority vote in both houses; otherwise, it will become effective on September 1, 2025. This legislative change is intended to support economic growth and development in Texas municipalities by facilitating access to necessary funding for tourism-related infrastructure.

Statutes affected:
Introduced: Tax Code 351.152 (Tax Code 351)