Texas Comptroller of Public Accounts
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| Origin Date: 2005 by S.B. 150, S.B. 1605, 79th Leg., R.S. |
| Issue Date: 2005-09-01 |
| Revised Date: 2019-09-01 |
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 |
To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
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 Title | MOTOR SPORTS AND RACING TRUST FUND |
|---|---|
| Consolidated Fund | |
| State Fund Group | 13 - LOCAL TRUST |
| USAS Status | A |