Relating to the conversion of all or a portion of a municipal sales and use tax originally adopted for the purpose of sports and community venues to a municipal sales and use tax for economic development purposes.

HB 5124 allows Texas municipalities with sales taxes originally collected for sports and community venues to redirect those funds toward economic development. It requires voter approval via a special election where ballots must clearly state the purpose change to "promoting new and expanded business enterprises." Municipalities must notify the comptroller 60 days before implementing the change. The bill affects local governments with existing bonded debt tied to venue projects, enabling them to convert tax revenue streams without altering the tax rate itself.