Tex. Gov't Code Section 2303.5055
Refund, Rebate, or Payment of Tax Proceeds to Qualified Hotel Project


(a)

For a period that may not exceed 10 years, a governmental body, including a municipality, county, or political subdivision, may agree to rebate, refund, or pay eligible taxable proceeds to the owner of a qualified hotel project at which the eligible taxable proceeds were generated.

(b)

A municipality with a population of 1,500,000 or more may agree to guarantee from hotel occupancy taxes the bonds or other obligations of a municipally sponsored local government corporation created under the Texas Transportation Corporation Act, Chapter 431 (Texas Transportation Corporation Act), Transportation Code, that were issued or incurred to pay the cost of construction, remodeling, or rehabilitation of a qualified hotel project.

(c)

An agreement under this section must be in writing, contain an expiration date, and require the beneficiary to provide documentation necessary to support a claim.

(d)

A governmental body that makes an agreement under this section shall make the rebate, refund, or payment directly to the beneficiary.

(e)

In this section, “eligible taxable proceeds” means taxable proceeds generated, paid, or collected by a qualified hotel project or a business at a qualified hotel project, including hotel occupancy taxes, ad valorem taxes, sales and use taxes, and mixed beverage taxes.

(f)

Notwithstanding any other law, the comptroller shall deposit eligible taxable proceeds that were collected by or forwarded to the comptroller, and to which the qualified hotel project is entitled according to an agreement under this section, in trust in a separate suspense account of the project. A suspense account is outside the state treasury, and the comptroller may make a rebate, refund, or payment authorized by this section without the necessity of an appropriation. The comptroller shall rebate, refund, or pay to each qualified hotel project eligible taxable proceeds to which the project is entitled under this section at least quarterly.
Added by Acts 1995, 74th Leg., ch. 76, Sec. 5.53(a), eff. Sept. 1, 1995.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 179 (S.B. 977), Sec. 1, eff. May 28, 2011.
Acts 2013, 83rd Leg., R.S., Ch. 490 (S.B. 1719), Sec. 2, eff. June 14, 2013.
Acts 2015, 84th Leg., R.S., Ch. 227 (H.B. 1964), Sec. 5, eff. May 29, 2015.

Source: Section 2303.5055 — Refund, Rebate, or Payment of Tax Proceeds to Qualified Hotel Project, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­2303.­htm#2303.­5055 (accessed Jun. 5, 2024).

2303.001
Short Title
2303.002
Purposes
2303.003
Definitions
2303.004
Jurisdiction of Municipality
2303.051
General Powers and Duties
2303.052
Bank Report Regarding Program
2303.053
Assistance
2303.054
Coordination with Other Governmental Entities
2303.101
Qualification for Enterprise Zone Designation
2303.109
Period of Designation
2303.201
Administration by Governing Body
2303.204
Liaison
2303.205
Annual Report
2303.401
Definitions
2303.402
Qualified Business
2303.403
Prohibition on Qualified Business Certification
2303.404
Request for Application for Enterprise Project Designation
2303.405
Application for Enterprise Project Designation
2303.406
Enterprise Project Designation
2303.407
Allocation of Jobs Eligible for Tax Refund
2303.408
Duration of Certain Designations
2303.501
Exemptions from State Regulation
2303.502
Review of State Agency Rules
2303.503
State Preferences
2303.504
State Tax Refunds
2303.505
Local Sales and Use Tax Refunds
2303.506
Reduction or Elimination of Local Fees or Taxes
2303.507
Tax Increment Financing and Abatement
2303.509
Development Bonds
2303.510
Industrial Development Corporation
2303.511
Other Local Incentives
2303.513
Disposition of Public Property in Enterprise Zone
2303.514
Waiver of Performance Bond
2303.515
Liability of Contractor or Architect
2303.516
Monitoring Qualified Business or Enterprise Project Commitments
2303.517
Report
2303.4051
Ordinance or Order for Identification of Local Incentives
2303.4052
Required Information from Nominating Body
2303.4071
Maximum Tax Refund
2303.4072
Enterprise Project Claim for State Benefit
2303.5055
Refund, Rebate, or Payment of Tax Proceeds to Qualified Hotel Project

Accessed:
Jun. 5, 2024

§ 2303.5055’s source at texas​.gov