Issue Date: 1999-09-01
Revised Date: 2003-09-01

Legal Citations

Origin:

1999 by S.B. 456, 76th, Leg., R.S.

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 13: Local Trust [?]
Depository Interest Retained in appropriated fund.
Disposition of Balance Accumulative
Appropriation Technique General Appropriations Act

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

Texas Department of Economic Development (480) repealed and duties transferred to the Economic Development and Tourism Office in the Governor's office by S.B. 275, 78th Leg., R.S., effective 9-1-03.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
Funds held outside the state treasury in a trustee capacity for individuals, private organizations or other governmental entities. Includes assets belonging to individuals and other entities held temporarily in a custodial capacity.