What does Texas SB1921 do?
SB 1921 fundamentally shifts the authority for establishing Tourism Public Improvement Districts (TPIDs) from strictly property owners to "Qualified Petitioners," including hotel General Managers and management companies. While this streamlines the petition process for district renewals, it introduces significant legal risk regarding unauthorized financial encumbrances. Hotel owners and management companies must immediately align their Management Service Agreements (MSAs) and corporate resolutions to control who is authorized to bind the property to these assessments.