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.