Texas SB1425 modifies tax revenue entitlements for certain municipalities related to hotel and convention center projects.

Texas SB1425 amends the Tax Code to change the period during which certain municipalities are entitled to receive tax revenue from hotel and convention center projects. Specifically, it extends the entitlement period for some municipalities to the 20th anniversary of the hotel's opening, up from the previous 10th anniversary. The bill also outlines procedures for the comptroller to determine and collect any overpayments made to municipalities. The changes take effect immediately if approved by a two-thirds vote in the legislature, otherwise they will take effect on September 1, 2025.

Texas SB1425 modifies tax revenue entitlements for certain municipalities related to hotel and convention center projects.

Texas SB1425 amends the Tax Code to change the period during which certain municipalities are entitled to receive tax revenue from hotel and convention center projects. Specifically, it extends the entitlement period for some municipalities to the 20th anniversary of the hotel's opening, up from the previous 10th anniversary. The bill also outlines procedures for the comptroller to determine and collect any overpayments made to municipalities. The changes take effect immediately if approved by a two-thirds vote in the legislature, otherwise they will take effect on September 1, 2025.