Fund 0870 – Olympic Games Trust Fund

Skip to main content Skip to footer site map

Legal Citations:

Vernon's Civil Statutes art. 5190.14 sec. 5(f)

Origin Date: 1999 by S.B. 456, 76th, Leg., R.S.

Issue Date: 1999-09-01

Revised Date: 2003-09-01

Purpose

If a site is selected in this state, to retain a portion of state and municipal sales taxes in an amount of estimated incremental increases directly attributable, as determined by the comptroller, to the preparation for and presentation of the games and related events. Total tax revenue deposited to the fund may not exceed $100 million. To be used to fulfill joint obligations of the state and endorsing municipality to a site selection organization under a games support contract.

Classification	Group 08: Trust Funds [?]
Depository Interest	Retained in appropriated fund.
Disposition of Balance	Accumulative
Appropriation Technique	General Appropriations Act

Administering Agencies

300 – Governor - Fiscal

Financial Activity

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

Notes

Texas Department of Economic Development (480) repealed and duties transferred to the Economic Development and Tourism Office in the Governor's office by S.B. 275, 78th Leg., R.S., effective 9-1-03.

Amended by H.B. 1675, 78th Leg., R.S.

USAS Values

USAS Title	OLYMPIC GAMES 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

Accessibility Policy