| Issue Date: | 2007-06-15 |
|---|---|
| Revised Date: | 2019-09-01 |
Legal Cites
- Government Code sec. 480.0151, sec. 480.0152, sec. 480.0153, sec. 480.0154, sec. 480.0155, sec. 480.0201, sec. 480.0202
Origin:
2007 by S.B. 1523, 80th Leg., R.S.
Purpose
If site selection approved for an event or related series of events sanctioned by a site selection organization, comptroller shall deposit a portion of state and local sales, hotel and mixed beverage taxes in an amount of estimated incremental increases determined by the comptroller, to the fund as soon as practicable after the taxes are collected or as otherwise determined by the governor's office. In addition, a municipality or county may remit surcharges and user fees to the fund. The fund is outside the treasury held in trust by comptroller and may be disbursed without appropriation to pay principal and interest on notes and to fulfill obligation to a site selection organization, including improvements, renovations and costs of acquisition or construction. Fund established in the Uniform Statewide Accounting System (USAS) to facilitate processing and reporting of expenditures, including payroll, through USAS and the Uniform Statewide Payroll System.
| Classification | Group 13: Local Trust [?] |
|---|---|
| Depository Interest | Credited to General Revenue Fund 0001. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | Not appropriated for state expenditure. |
Administering Agencies
Note
Title changed (from Sporting Trust Fund for Certain Municipalities and Counties) and amended by S.B. 1515, 81st Leg., R.S.
Administration of fund changed from Office of the Comptroller to Economic Development and Tourism Division, Office of the Governor by S.B. 633, 84th Leg., R.S.
Codified from Vernon's Civil Statues art. 5190.14 to Government Code Ch. 480 by H.B. 4174, 86th Leg., R.S.
USAS Values
| USAS Title | EVENTS TRUST FD FOR CERTAIN MUNI/COUNTYS |
|---|---|
| Consolidated Fund | |
| State Fund Group | 13 - LOCAL TRUST |
| USAS Status | A |