| Issue Date: | 1999-09-01 |
|---|---|
| Revised Date: | 2003-09-01 |
Legal Cites
- Vernon's Civil Statutes art. 5190.14 sec. 4(f)
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 $20 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 (formerly the Texas Department of Economic Development, Agency 480)
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Texas Department of Economic Development (480) repealed and duties transferred to the Economic Development and Tourism Office in the Governor's office by S.B. 275, 78th Leg., R.S., effective 9-1-03.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 | PAN AMERICAN 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