| Issue Date: | 1987-09-01 |
|---|---|
| Revised Date: | 2019-09-01 |
Legal Citations
- Tax Code sec. 156.251(d), sec. 156.252
- Government Code sec. 403.095
- Natural Resources Code sec. 33.604
Codes
| Out | In | For |
|---|---|---|
| 7940 | 3940 | Hotel Occupancy Tax for Economic Development (5003) |
| 7942 | 3942 | Water Development Bonds Interest and Sinking Fund (0352) Inactive |
| 7940 | 3940 | Coastal Erosion Response (5176) |
Purpose
To record the transfer of dedicated revenue (at a rate of 1/2 of 1 percent) from the hotel occupancy tax deposited in the General Revenue Fund (0001) to GR Account -- Hotel Occupancy Tax for Economic Development (5003) for the Governor's Office, for media advertising and marketing activities designed to increase tourism. (H.B. 61, S.B. 6, 70th Leg., 2nd C.S.) Account rededicated in H.B. 3050, 74th Leg., R.S.
Use to record transfer of 2% of hotel taxes received from coastal counties to GR Account 5176 - Coastal Erosion Response.
Note
S.B. 932, 75th Leg., R.S. abolished the Department of Commerce and created the Department of Economic Development. Department of Economic Development repealed and duties transferred to the Economic Development and Tourism Office in the Governor's Office by S.B. 275, 78th Leg., R.S., effective 9-1-2003.
Formerly to record the transfer of revenues from the General Revenue Fund (0001) to the Water Development Bond Interest and Sinking Fund (0352) for Water Development Bond requirements.
H.B. 6, 86th Leg., R.S. added 2% of hotel taxes received from coastal counties in the state be deposited to GR Account 5176 - Coastal Erosion Response.