| (A) The owner of a qualified hotel project is entitled
to receive 100% of the state sales and use tax and state hotel occupancy
tax paid or collected by the qualified hotel project, and eligible
tax proceeds, during the first 10 years after the qualified hotel
project is open for initial occupancy. The tax rebate period ends
on the tenth anniversary of the date the hotel project opened for
initial occupancy. The comptroller does not have the authority to
issue tax rebates until the project is open for initial occupancy.
(B) Pursuant to Government Code, §2303.5055, the
comptroller can only rebate eligible tax proceeds that a governmental
body has agreed to rebate. The agreement must be in writing and specify
that the comptroller rebate the eligible tax proceeds to the owner
of the qualified hotel project.
(C) Multiple qualified hotel projects.
(i) A municipality described in paragraph (1)(G) of
this subsection may designate more than one qualified hotel project.
(ii) After a facility ancillary to the hotel has entered
into a tax rebate agreement with a qualified hotel project, the ancillary
facility cannot associate with another qualified hotel project to
extend the 10-year tax rebate period in subparagraph (A) of this paragraph.
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