Texas HB5016 amends the Local Government Code to exclude certain venue projects from financing with a short-term motor vehicle rental tax.

Texas HB5016 amends Section 334.1015(a) of the Local Government Code to exclude venue projects that are part of a municipal parks and recreation system or a specific type of park from being financed with a short-term motor vehicle rental tax. The bill also ensures that existing bonds, contractual obligations, or other obligations for which revenue was pledged or committed remain valid under the law in effect when the revenue was pledged or committed. If the bill receives a two-thirds vote in both houses, it takes effect immediately; otherwise, it takes effect on September 1, 2025.

Texas HB5016 amends the Local Government Code to exclude certain venue projects from financing with a short-term motor vehicle rental tax.

Texas HB5016 amends Section 334.1015(a) of the Local Government Code to exclude venue projects that are part of a municipal parks and recreation system or a specific type of park from being financed with a short-term motor vehicle rental tax. The bill also ensures that existing bonds, contractual obligations, or other obligations for which revenue was pledged or committed remain valid under the law in effect when the revenue was pledged or committed. If the bill receives a two-thirds vote in both houses, it takes effect immediately; otherwise, it takes effect on September 1, 2025.