Texas HB3066 amends tax code to adjust the period certain municipalities are entitled to hotel and convention center tax revenue.

Texas HB3066 amends the tax code to change the entitlement period for certain municipalities to receive tax revenue from hotel and convention center projects. Specifically, a municipality is now entitled to receive revenue until the 10th anniversary of the qualified hotel's opening. Additionally, a municipality described by Section 351.152(46) is entitled to receive revenue until the 20th anniversary.

Texas HB3066 amends tax code to adjust the period certain municipalities are entitled to hotel and convention center tax revenue.

Texas HB3066 amends the tax code to change the entitlement period for certain municipalities to receive tax revenue from hotel and convention center projects. Specifically, a municipality is now entitled to receive revenue until the 10th anniversary of the qualified hotel's opening. Additionally, a municipality described by Section 351.152(46) is entitled to receive revenue until the 20th anniversary.