The bill, S.B. No. 1518, amends Section 351.155(d) of the Texas Tax Code to expand the authority of certain municipalities to utilize specific tax revenue for hotel and convention center projects. The amendment specifies that the restrictions outlined in subsection (c) do not apply to municipalities with a population of 175,000 or more, as well as to municipalities described by Section 351.152(10). This change allows larger municipalities greater flexibility in funding such projects, potentially enhancing their economic development efforts.

The bill is set to take effect immediately upon receiving a two-thirds vote from all elected members of both houses of the legislature. If it does not achieve the necessary votes for immediate effect, the bill will take effect on September 1, 2025.

Statutes affected:
Introduced: Tax Code 351.155 (Tax Code 351)