Texas HB1287 extends the expiration date of certain project financing zones by two years due to the COVID-19 pandemic.

Texas HB1287 amends the Tax Code to extend the expiration date of project financing zones by two years for municipalities with populations between 850,000 and 950,000, or 650,000 and 750,000, if the zones were designated before 2019 and were in existence on March 15, 2020. This extension is due to the impact of the COVID-19 pandemic on hotel-associated revenues. The changes take effect on September 1, 2025.

Texas HB1287 extends the expiration date of certain project financing zones by two years due to the COVID-19 pandemic.

Texas HB1287 amends the Tax Code to extend the expiration date of project financing zones by two years for municipalities with populations between 850,000 and 950,000, or 650,000 and 750,000, if the zones were designated before 2019 and were in existence on March 15, 2020. This extension is due to the impact of the COVID-19 pandemic on hotel-associated revenues. The changes take effect on September 1, 2025.