Issue Date: 2005-09-01
Revised Date: 2019-09-01

Legal Cites


2005 by S.B. 150, S.B. 1605, 79th Leg., R.S.


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 governor's office, 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.

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


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. 479 by H.B. 4174, 86th Leg., R.S.

USAS Values

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.