Issue Date: 2005-09-01
Revised Date:

Legal Citations

Origin:

2005 by S.B. 150, S.B. 1605, 79th Leg., R.S.

Purpose

If a site is selected for a motor sports racing event, a portion of state and local sales, hotel and mixed beverage taxes in an amount of estimated incremental increases, as determined by the comptroller, is deposited to this fund established outside the treasury in custody of comptroller. Motor sports racing event is a specific automobile racing event for a particular year referred to as the US Grand Prix, or specific automobile racing event that is part of the Champ Car World Series or the American Le Mans Series. Obligations satisfied proportionately from state and local revenue. Fund may also receive pledged surcharges from user fees charged by the local government.
Classification Group 08: Trust Funds [?]
Depository Interest Credited to General Revenue Fund (0001)
Disposition of Balance Accumulative
Appropriation Technique Not appropriated for state expenditure

Administering Agencies

Financial Activity

To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Note

USAS Values

USAS Title MOTOR SPORTS AND RACING TRUST FUND
Consolidated Fund
State Fund Group 13 - LOCAL TRUST
USAS Status A
Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities