Issue Date: 2003-09-01
Revised Date: 2011-04-29

Legal Citations

Origin:

2003 by S.B. 275 and H.B. 3318, 78th Leg., R.S.

Purpose

If a site is selected in this state, to retain a portion of state and local sales, hotel and mixed beverage taxes in an amount of estimated incremental increases for a one-year period directly attributable, as determined by the comptroller, to the presentation of an event and related events.

Specific types of events are listed under TEX. REV. CIV. STAT. ANN. art. 5190.14 sec. 5A(d) and include: professional and collegiate championship sporting events, Olympic games, automobile races, music awards, and political conventions.  

Fund may also receive pledged surcharges and user fee revenue charged in connection with the event by the local government. Used to fulfill obligations of the state and/or endorsing municipality or county to a site selection organization under an event support contract.

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

Fund originally set to expire 1-1-07,  H.B. 1528, 79th Leg., R.S. repealed the expiration date. Game definition amended by S.B. 1038, 79th Leg., R.S. 
Name changed (from Other Events Trust Fund) and amended by S.B. 1515, 81st Leg., R.S.;
Additional events added by S.B. 309, 82nd Leg., R.S.
Additional events added by S.B. 398 and S.B. 1678, 83rd Leg., R.S.

USAS Values

USAS Title MAJOR EVENTS REIMBURSEMENT PROGRAM
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