Bill Text: TX SB633 | 2015-2016 | 84th Legislature | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to certain event trust funds and the abolishment of the special event trust fund.
Spectrum: Slight Partisan Bill (Republican 5-2)
Status: (Passed) 2015-06-18 - Effective on 9/1/15 [SB633 Detail]
Download: Texas-2015-SB633-Engrossed.html
Bill Title: Relating to certain event trust funds and the abolishment of the special event trust fund.
Spectrum: Slight Partisan Bill (Republican 5-2)
Status: (Passed) 2015-06-18 - Effective on 9/1/15 [SB633 Detail]
Download: Texas-2015-SB633-Engrossed.html
By: Fraser | S.B. No. 633 |
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relating to a Pan American Games reimbursement fund, an Olympic | ||
Games reimbursement fund, a Major Events reimbursement fund, a | ||
Motor Sports Racing reimbursement fund, an Events reimbursement | ||
fund for sporting and non-sporting events, and a special event | ||
trust fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. The heading to Section 4, Chapter 1507 (S.B. | ||
456), Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), is amended to read as | ||
follows: | ||
Sec. 4. GUARANTEE OF STATE AND MUNICIPAL OBLIGATIONS; PAN | ||
AMERICAN GAMES REIMBURSEMENT [ |
||
SECTION 2. Sections 4(b), (c), (d), (f), (g), (h), (j), (k), | ||
and (m), Chapter 1507 (S.B. 456), Acts of the 76th Legislature, | ||
Regular Session, 1999 (Article 5190.14, Vernon's Texas Civil | ||
Statutes), are amended to read as follows: | ||
(b) If a site selection organization selects a site for the | ||
games in this state pursuant to an application by a local organizing | ||
committee acting on behalf of an endorsing municipality, after the | ||
first occurrence of a measurable economic impact in this state as a | ||
result of the preparation for the games, as determined by the | ||
department [ |
||
before the scheduled opening event of the games, the department | ||
[ |
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quarter, in accordance with procedures developed by the department | ||
[ |
||
(1) the incremental increase in the receipts to the | ||
state from the taxes imposed under Chapters 151, 152, 156, and 183, | ||
Tax Code, and under Title 5, Alcoholic Beverage Code, within the | ||
market areas designated under Subsection (c) of this section, that | ||
is directly attributable, as determined by the department | ||
[ |
||
and related events; | ||
(2) the incremental increase in the receipts collected | ||
by the state on behalf of the endorsing municipality from the sales | ||
and use tax imposed by the endorsing municipality under Section | ||
321.101(a), Tax Code, that is directly attributable, as determined | ||
by the department [ |
||
presentation of the games and related events; and | ||
(3) the incremental increase in the receipts collected | ||
by the endorsing municipality from the municipality's hotel | ||
occupancy tax imposed under Chapter 351, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the games and related events. | ||
(c) For the purposes of Subsection (b)(1) of this section, | ||
the department [ |
||
the games each area in which the department [ |
||
determines there is a reasonable likelihood of measurable economic | ||
impact directly attributable to the preparation for and | ||
presentation of the games and related events, including areas | ||
likely to provide venues, accommodations, and services in | ||
connection with the games based on the proposal provided by the | ||
local organizing committee under Section 7 of this Act. The | ||
department [ |
||
of each market area. The endorsing municipality that has been | ||
selected as the site for the games must be included in a market area | ||
for the games. | ||
(d) The comptroller, at the direction of the department, | ||
shall retain, for the purpose of guaranteeing the joint obligations | ||
of the state and the endorsing municipality under a games support | ||
contract and this Act, the amount of municipal sales and use tax | ||
revenue determined under Subsection (b)(2) of this section from the | ||
amounts otherwise required to be sent to the municipality under | ||
Section 321.502, Tax Code, beginning with the first distribution of | ||
that tax revenue that occurs after the date the department | ||
[ |
||
sales and use tax revenue under Subsection (b)(2). The comptroller | ||
shall discontinue retaining municipal sales and use tax revenue | ||
under this subsection on the earlier of: | ||
(1) the end of the third calendar month following the | ||
month in which the closing event of the games occurs; or | ||
(2) the date the amount of municipal sales and use tax | ||
revenue and municipal hotel occupancy tax revenue in the Pan | ||
American Games reimbursement [ |
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maximum amount of state and municipal tax revenue that may be | ||
transferred to or deposited in the [ |
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(m) of this section. | ||
(f) Subject to Subsection (m) of this section, the | ||
comptroller, at the direction of the department, shall deposit into | ||
a [ |
||
[ |
||
retained under Subsection (d) of this section and, at the same time, | ||
shall transfer to the fund a portion of the state tax revenue | ||
determined by the department under Subsection (b)(1) of this | ||
section in an amount equal to 6.25 times the amount of that | ||
municipal sales and use tax revenue. Subject to Subsection (m) of | ||
this section, the endorsing municipality shall deposit into the | ||
[ |
||
occupancy tax revenue determined by the department under Subsection | ||
(b)(3) of this section. The endorsing municipality shall deposit | ||
that hotel occupancy tax revenue into the [ |
||
quarterly. When the endorsing municipality makes a deposit of its | ||
hotel occupancy tax revenue, the comptroller, at the direction of | ||
the department, shall transfer to the fund [ |
||
time a portion of the state tax revenue determined under Subsection | ||
(b)(1) of this section in an amount equal to 6.25 times the amount | ||
of that municipal hotel occupancy tax revenue. The Pan American | ||
Games reimbursement [ |
||
treasury but is held in trust by the comptroller for the | ||
administration of this Act. Money in the [ |
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by the department without appropriation only as provided by this | ||
Act. The comptroller shall discontinue transferring [ |
||
into the [ |
||
department under Subsection (b)(1) of this section on the earlier | ||
of: | ||
(1) the end of the third calendar month following the | ||
month in which the closing event of the games occurs; or | ||
(2) the date on which the amount of state revenue in | ||
the Pan American Games reimbursement [ |
||
of the maximum amount of state and municipal tax revenue that may be | ||
transferred to or deposited in the [ |
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(m) of this section. | ||
(g) The department may use the money [ |
||
American Games reimbursement [ |
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obligations of the state and the endorsing municipality to a site | ||
selection organization under a games support contract or any other | ||
agreement providing assurances from the department or the endorsing | ||
municipality to a site selection organization. | ||
(h) A local organizing committee shall provide information | ||
required by the department [ |
||
[ |
||
under this Act, including annual audited statements of the local | ||
organizing committee's financial records required by a site | ||
selection organization and data obtained by the local organizing | ||
committee relating to attendance at the games and to the economic | ||
impact of the games. A local organizing committee must provide an | ||
annual audited financial statement required by the department | ||
[ |
||
date the period covered by the financial statement ends. | ||
(j) The department may not make a disbursement from the Pan | ||
American Games reimbursement [ |
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[ |
||
which the state and the endorsing municipality are jointly | ||
obligated under a games support contract or other agreement | ||
described by Subsection (g) of this section. | ||
(k) If the department [ |
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Subsection (j) of this section that a disbursement may be made from | ||
the Pan American Games reimbursement [ |
||
shall be satisfied first out of municipal revenue deposited in the | ||
[ |
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the municipal revenue is not sufficient to satisfy the entire | ||
deficit, state revenue transferred [ |
||
fund and any interest earned on that state revenue shall be used to | ||
satisfy the portion of the deficit not covered by the municipal | ||
revenue. | ||
(m) In no event may: | ||
(1) the total amount of state and municipal tax | ||
revenue transferred to or deposited in the Pan American Games | ||
reimbursement [ |
||
(2) the joint liability of the state and the endorsing | ||
municipality under a joinder agreement and any other games support | ||
contracts entered into pursuant to this Act exceed the lesser of: | ||
(A) $20 million; or | ||
(B) the total amount of revenue transferred to or | ||
deposited in the Pan American Games reimbursement [ |
||
interest earned on the fund. | ||
SECTION 3. Sections 4(i) and (l), Chapter 1507 (S.B. 456), | ||
Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), as amended by Chapters 579 | ||
(H.B. 1675) and 814 (S.B. 275), Acts of the 78th Legislature, | ||
Regular Session, 2003, are reenacted and amended to read as | ||
follows: | ||
(i) The department [ |
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not later than September [ |
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eight years before the year in which the games would be held in this | ||
state of the total amount of state and municipal tax revenue that | ||
would be transferred to or deposited in the Pan American Games | ||
reimbursement [ |
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following the year in which the games would be held, if the games | ||
were to be held in this state at a site selected pursuant to an | ||
application by a local organizing committee. The department | ||
[ |
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organizing committee. A local organizing committee may submit the | ||
department's [ |
||
organization. | ||
(l) On January 1[ |
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year in which the games are held in this state, the comptroller, at | ||
the direction of the department, shall transfer to the general | ||
revenue fund any money remaining in the Pan American Games | ||
reimbursement [ |
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revenue remaining in the [ |
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that state revenue. The comptroller shall remit to the endorsing | ||
municipality any money remaining in the [ |
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required amount is transferred to the general revenue fund. | ||
SECTION 4. The heading to Section 5, Chapter 1507 (S.B. | ||
456), Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), is amended to read as | ||
follows: | ||
Sec. 5. GUARANTEE OF STATE AND MUNICIPAL OBLIGATIONS; | ||
OLYMPIC GAMES REIMBURSEMENT [ |
||
SECTION 5. Sections 5(b), (c), (d), (f), (g), (h), (i), (j), | ||
(k), (l), and (m), Chapter 1507 (S.B. 456), Acts of the 76th | ||
Legislature, Regular Session, 1999 (Article 5190.14, Vernon's | ||
Texas Civil Statutes), are amended to read as follows: | ||
(b) If a site selection organization selects a site for the | ||
games in this state pursuant to an application by a local organizing | ||
committee, after the first occurrence of a measurable economic | ||
impact in this state as a result of the preparation for the games, | ||
as determined by the department [ |
||
later than one year before the scheduled opening event of the games, | ||
the department [ |
||
calendar quarter, in accordance with procedures developed by the | ||
department [ |
||
(1) the incremental increase in the receipts to the | ||
state from the taxes imposed under Chapters 151, 152, 156, and 183, | ||
Tax Code, and under Title 5, Alcoholic Beverage Code, within the | ||
market areas designated under Subsection (c) of this section, that | ||
is directly attributable, as determined by the department | ||
[ |
||
and related events; | ||
(2) the incremental increase in the receipts collected | ||
by the state on behalf of each endorsing municipality from the sales | ||
and use tax imposed by the endorsing municipality under Section | ||
321.101(a), Tax Code, and the mixed beverage tax revenue to be | ||
received by the endorsing municipality under Section 183.051(b), | ||
Tax Code, that is directly attributable, as determined by the | ||
department [ |
||
of the games and related events; | ||
(3) the incremental increase in the receipts collected | ||
by the state on behalf of each endorsing county from the sales and | ||
use tax imposed by the county under Section 323.101(a), Tax Code, | ||
and the mixed beverage tax revenue to be received by the endorsing | ||
county under Section 183.051(b), Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the games and related events; | ||
(4) the incremental increase in the receipts collected | ||
by each endorsing municipality from the hotel occupancy tax imposed | ||
under Chapter 351, Tax Code, that is directly attributable, as | ||
determined by the department [ |
||
and presentation of the games and related events; and | ||
(5) the incremental increase in the receipts collected | ||
by each endorsing county from the hotel occupancy tax imposed under | ||
Chapter 352, Tax Code, that is directly attributable, as determined | ||
by the department [ |
||
presentation of the games and related events. | ||
(c) For the purposes of Subsection (b)(1) of this section, | ||
the department [ |
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the games each area in which the department [ |
||
determines there is a reasonable likelihood of measurable economic | ||
impact directly attributable to the preparation for and | ||
presentation of the games and related events, including areas | ||
likely to provide venues, accommodations, and services in | ||
connection with the games based on the proposal provided by the | ||
local organizing committee under Section 7 of this Act. The | ||
department [ |
||
of each market area. Each endorsing municipality or endorsing | ||
county that has been selected as the site for the games must be | ||
included in a market area for the games. | ||
(d) Subject to Section 6 of this Act, the comptroller, at | ||
the direction of the department, shall retain, for the purpose of | ||
guaranteeing the joint obligations of the state and an endorsing | ||
municipality or endorsing county under a games support contract and | ||
this Act, the amount of sales and use tax revenue and mixed beverage | ||
tax revenue determined under Subsection (b)(2) or (b)(3) of this | ||
section from the amounts otherwise required to be sent to the | ||
municipality under Section 183.051(b) or 321.502, Tax Code, or to | ||
the county under Section 183.051(b) or 323.502, Tax Code, beginning | ||
with the first distribution of that tax revenue that occurs after | ||
the date the department [ |
||
the amount of sales and use tax revenue and mixed beverage tax | ||
revenue under Subsection (b)(2) or (b)(3) of this section. The | ||
comptroller shall discontinue retaining sales and use tax revenue | ||
and mixed beverage tax revenue under this subsection on the earlier | ||
of: | ||
(1) the end of the third calendar month following the | ||
month in which the closing event of the games occurs; or | ||
(2) the date the amount of local sales and use tax | ||
revenue and mixed beverage tax revenue in the Olympic Games | ||
reimbursement [ |
||
of state and local tax revenue that may be transferred to or | ||
deposited in the [ |
||
(f) Subject to Subsection (m) of this section, each | ||
endorsing municipality or endorsing county shall remit to the | ||
comptroller and the comptroller, at the direction of the | ||
department, shall deposit into a trust fund designated as the | ||
Olympic Games reimbursement [ |
||
amount of the municipality's or county's hotel occupancy tax | ||
revenue determined by the department under Subsection (b)(4) or | ||
(b)(5) of this section, as applicable. Subject to Section 6 of this | ||
Act and Subsection (m) of this section, the comptroller, at the | ||
direction of the department, shall deposit into the [ |
||
the amount of sales and use tax revenue and mixed beverage tax | ||
revenue retained under Subsection (d) of this section for the same | ||
calendar quarter and, at the same time, shall transfer to the fund | ||
the state tax revenue determined by the department under Subsection | ||
(b)(1) of this section for the quarter. The Olympic Games | ||
reimbursement [ |
||
is held in trust by the comptroller for the administration of this | ||
Act. Money in the [ |
||
without appropriation only as provided by this Act. The | ||
comptroller shall discontinue transfer [ |
||
state tax revenue determined by the department under Subsection | ||
(b)(1) of this section on the earlier of: | ||
(1) the end of the third calendar month following the | ||
month in which the closing event of the games occurs; or | ||
(2) the date the amount of state revenue in the Olympic | ||
Games reimbursement [ |
||
amount of state, municipal, and county tax revenue that may be | ||
transferred to or deposited in the [ |
||
(m) of this section. | ||
(g) The department may use the money [ |
||
Games reimbursement [ |
||
of the state and each endorsing municipality or endorsing county to | ||
a site selection organization under a games support contract or any | ||
other agreement providing assurances from the department or the | ||
municipality or county to a site selection organization. | ||
(h) A local organizing committee shall provide information | ||
required by the department [ |
||
[ |
||
under this Act, including annual audited statements of the local | ||
organizing committee's financial records required by a site | ||
selection organization and data obtained by the local organizing | ||
committee relating to attendance at the games and to the economic | ||
impact of the games. A local organizing committee must provide an | ||
annual audited financial statement required by the department | ||
[ |
||
date the period covered by the financial statement ends. | ||
(i) The department [ |
||
before August 31 of the year that is 12 years before the year in | ||
which the games would be held in this state, or as soon as practical | ||
after that date, of the total amount of state, municipal, and county | ||
tax revenue that would be transferred to or deposited in the Olympic | ||
Games reimbursement [ |
||
this state at a site selected pursuant to an application by a local | ||
organizing committee. The department [ |
||
the estimate on request to a local organizing committee. A local | ||
organizing committee may submit the department's [ |
||
estimate to a site selection organization. | ||
(j) The department may not make a disbursement from the | ||
Olympic Games reimbursement [ |
||
[ |
||
which the state and each endorsing municipality or endorsing county | ||
are jointly obligated under a games support contract or other | ||
agreement described by Subsection (g) of this section. A | ||
disbursement may not be made from the [ |
||
department determines would be used for the purpose of soliciting | ||
the relocation of a professional sports franchise located in this | ||
state. | ||
(k) If the department [ |
||
Subsection (j) of this section that a disbursement may be made from | ||
the Olympic Games reimbursement [ |
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be satisfied proportionately from the state and municipal or county | ||
revenue in the [ |
||
(l) Two years after the closing event of the games, the | ||
department [ |
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any money remaining in the Olympic Games reimbursement [ |
||
fund, not to exceed the amount of state revenue remaining in the | ||
[ |
||
department [ |
||
proportion to the amount contributed by the entity any money | ||
remaining in the [ |
||
transferred to the general revenue fund. | ||
(m) In no event may: | ||
(1) the total amount of state, municipal, and county | ||
tax revenue transferred to or deposited in the Olympic Games | ||
reimbursement [ |
||
(2) the joint liability of the state and an endorsing | ||
municipality or county under a joinder agreement and any other | ||
games support contracts entered into pursuant to this Act exceed | ||
the lesser of: | ||
(A) $100 million; or | ||
(B) the total amount of revenue transferred to or | ||
deposited in the Olympic Games reimbursement [ |
||
interest earned on the fund. | ||
SECTION 6. The heading to Section 5A, Chapter 1507 (S.B. | ||
456), Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), is amended to read as | ||
follows: | ||
Sec. 5A. PAYMENT OF STATE AND MUNICIPAL OR COUNTY | ||
OBLIGATIONS; MAJOR EVENTS REIMBURSEMENT [ |
||
SECTION 7. Sections 5A(a)(1) and (2), Chapter 1507 (S.B. | ||
456), Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), are amended to read as | ||
follows: | ||
(1) "Endorsing county" means: | ||
(A) a county that contains a site selected by a | ||
site selection organization for one or more events; or | ||
(B) a county that: | ||
(i) does not contain a site selected by a | ||
site selection organization for an event; | ||
(ii) is included in the market area for the | ||
event as designated by the department [ |
||
(iii) is a party to an event support | ||
contract. | ||
(2) "Endorsing municipality" means: | ||
(A) a municipality that contains a site selected | ||
by a site selection organization for one or more events; or | ||
(B) a municipality that: | ||
(i) does not contain a site selected by a | ||
site selection organization for an event; | ||
(ii) is included in the market area for the | ||
event as designated by the department [ |
||
(iii) is a party to an event support | ||
contract. | ||
SECTION 8. Sections 5A(a-1), (a-2), (b), (b-1), (c), (d), | ||
(d-1), (e), (f), (g), (i), (j), (k), (l), (m), (p), (v), (w), and | ||
(y), Chapter 1507 (S.B. 456), Acts of the 76th Legislature, Regular | ||
Session, 1999 (Article 5190.14, Vernon's Texas Civil Statutes), are | ||
amended to read as follows: | ||
(a-1) An event not listed in Subsection (a)(4) of this | ||
section is ineligible for funding under this section. A listed | ||
event may receive funding under this section only if: | ||
(1) a site selection organization selects a site | ||
located in this state for the event to be held one time or, for an | ||
event scheduled to be held each year for a period of years under an | ||
event contract, or an event support contract, one time each year for | ||
the period of years, after considering, through a highly | ||
competitive selection process, one or more sites that are not | ||
located in this state; | ||
(2) a site selection organization selects a site in | ||
this state as: | ||
(A) the sole site for the event; or | ||
(B) the sole site for the event in a region | ||
composed of this state and one or more adjoining states; | ||
(3) the event is held not more than one time in any | ||
year; and | ||
(4) the amount of the incremental increase in tax | ||
receipts determined by the department [ |
||
Subsection (b) of this section equals or exceeds $1 million, | ||
provided that for an event scheduled to be held each year for a | ||
period of years under an event contract or event support contract, | ||
the incremental increase in tax receipts shall be calculated as if | ||
the event did not occur in the prior year. | ||
(a-2) Subsection (a-1)(1) of this section does not apply to | ||
an event that is the largest event held each year at a sports | ||
entertainment venue in this state with a permanent seating | ||
capacity, including grandstand and premium seating, of not less | ||
than 125,000. If an endorsing municipality or endorsing county | ||
requests the department [ |
||
Subsection (b) of this section for an event described by this | ||
subsection, the provisions of this section apply to that event as if | ||
it satisfied the eligibility requirements for an event under | ||
Subsection (a-1)(1) of this section. | ||
(b) If a site selection organization selects a site for an | ||
event in this state pursuant to an application by a local organizing | ||
committee, endorsing municipality, or endorsing county, upon | ||
request of a local organizing committee, endorsing municipality, or | ||
endorsing county, the department [ |
||
a one-year period that begins two months before the date on which | ||
the event will begin, in accordance with procedures developed by | ||
the department [ |
||
(1) the incremental increase in the receipts to the | ||
state from taxes imposed under Chapters 151, 152, 156, and 183, Tax | ||
Code, and under Title 5, Alcoholic Beverage Code, within the market | ||
areas designated under Subsection (c) of this section, that is | ||
directly attributable, as determined by the department | ||
[ |
||
and related activities; | ||
(2) the incremental increase in the receipts collected | ||
by the state on behalf of each endorsing municipality in the market | ||
area from the sales and use tax imposed by each endorsing | ||
municipality under Section 321.101(a), Tax Code, and the mixed | ||
beverage tax revenue to be received by each endorsing municipality | ||
under Section 183.051(b), Tax Code, that is directly attributable, | ||
as determined by the department [ |
||
for and presentation of the event and related activities; | ||
(3) the incremental increase in the receipts collected | ||
by the state on behalf of each endorsing county in the market area | ||
from the sales and use tax imposed by each endorsing county under | ||
Section 323.101(a), Tax Code, and the mixed beverage tax revenue to | ||
be received by each endorsing county under Section 183.051(b), Tax | ||
Code, that is directly attributable, as determined by the | ||
department [ |
||
of the event and related activities; | ||
(4) the incremental increase in the receipts collected | ||
by each endorsing municipality in the market area from the hotel | ||
occupancy tax imposed under Chapter 351, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the event and related | ||
activities; and | ||
(5) the incremental increase in the receipts collected | ||
by each endorsing county in the market area from the hotel occupancy | ||
tax imposed under Chapter 352, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the event and related | ||
activities. | ||
(b-1) A request for a determination of the amount of | ||
incremental increase in tax receipts specified by Subsection (b) of | ||
this section must be submitted to the department [ |
||
earlier than one year and not later than 45 days before the date the | ||
event begins. The department [ |
||
determination specified by Subsection (b) of this section on | ||
information submitted by the local organizing committee, endorsing | ||
municipality, or endorsing county, and must make the determination | ||
not later than the 30th day after the date the department | ||
[ |
||
(c) For the purposes of Subsection (b)(1) of this section, | ||
the department [ |
||
the event each area in which the department [ |
||
determines there is a reasonable likelihood of measurable economic | ||
impact directly attributable to the preparation for and | ||
presentation of the event and related activities, including areas | ||
likely to provide venues, accommodations, and services in | ||
connection with the event based on the proposal provided by the | ||
local organizing committee to the department [ |
||
department [ |
||
of each market area. An endorsing municipality or endorsing county | ||
that has been selected as the site for the event must be included in | ||
a market area for the event. | ||
(d) Each endorsing municipality or endorsing county shall | ||
remit to the comptroller and the comptroller shall deposit into a | ||
[ |
||
department, and designated as the Major Events reimbursement | ||
[ |
||
occupancy tax revenue determined by the department under Subsection | ||
(b)(4) or (b)(5) of this section, less any amount of the revenue | ||
that the municipality or county determines is necessary to meet the | ||
obligations of the municipality or county. The comptroller, at the | ||
direction of the department, shall retain the amount of sales and | ||
use tax revenue and mixed beverage tax revenue determined by the | ||
department under Subsection (b)(2) or (b)(3) of this section from | ||
the amounts otherwise required to be sent to the municipality under | ||
Sections 321.502 and 183.051(b), Tax Code, or to the county under | ||
Sections 323.502 and 183.051(b), Tax Code, and deposit into the | ||
[ |
||
the municipality or county determines is necessary to meet the | ||
obligations of the municipality or county. The comptroller shall | ||
begin retaining and depositing the local tax revenues with the | ||
first distribution of that tax revenue that occurs after the first | ||
day of the one-year period described by Subsection (b) of this | ||
section or at a time otherwise determined to be practicable by the | ||
department [ |
||
tax revenues under this subsection when the amount of the | ||
applicable tax revenue determined by the department under | ||
Subsection (b)(2) or (b)(3) of this section has been retained. The | ||
Major Events reimbursement [ |
||
state treasury and is held in trust by the comptroller for | ||
administration of this Act. Money in the [ |
||
disbursed by the department [ |
||
only as provided by this section. | ||
(d-1) Not later than the 90th day after the last day of an | ||
event and in lieu of the local tax revenues remitted [ |
||
retained [ |
||
a municipality or county may remit to the department [ |
||
for deposit in the Major Events reimbursement [ |
||
local funds in an amount equal to the total amount of local tax | ||
revenue determined by the department under Subsections (b)(2) | ||
through (5) of this section. The amount deposited by the department | ||
[ |
||
under this subsection is subject to Subsection (f) of this section. | ||
(e) In addition to the tax revenue deposited in the Major | ||
Events reimbursement [ |
||
section, an endorsing municipality or endorsing county may | ||
guarantee its obligations under an event support contract and this | ||
section by pledging surcharges from user fees, including parking or | ||
ticket fees, charged in connection with the event. An endorsing | ||
municipality or endorsing county may collect and remit to the | ||
department [ |
||
the event for deposit into the Major Events reimbursement [ |
||
fund. | ||
(f) The comptroller, at the direction of the department, | ||
shall transfer [ |
||
[ |
||
amount determined by the department under Subsection (b)(1) of this | ||
section in an amount equal to 6.25 times the amount of the local | ||
revenue retained or remitted under this section, including: | ||
(1) local sales and use tax revenue; | ||
(2) mixed beverage tax revenue; | ||
(3) hotel occupancy tax revenue; and | ||
(4) surcharge and user fee revenue. | ||
(g) To meet its obligations under a game support contract or | ||
event support contract to improve, construct, renovate, or acquire | ||
facilities or to acquire equipment, an endorsing municipality by | ||
ordinance or an endorsing county by order may authorize the | ||
issuance of notes. An endorsing municipality or endorsing county | ||
may provide that the notes be paid from and secured by amounts on | ||
deposit or amounts to be deposited into the Major Events | ||
reimbursement [ |
||
parking or ticket fees, charged in connection with the event. Any | ||
note issued must mature not later than seven years from its date of | ||
issuance. | ||
(i) A local organizing committee, endorsing municipality, | ||
or endorsing county shall provide information required by the | ||
department [ |
||
fulfill the department's [ |
||
including annual audited statements of any financial records | ||
required by a site selection organization and data obtained by the | ||
local organizing committee, an endorsing municipality, or an | ||
endorsing county relating to attendance at the event, including an | ||
estimate of the number of people expected to attend the event who | ||
are not residents of this state, and to the economic impact of the | ||
event. A local organizing committee, endorsing municipality, or | ||
endorsing county must provide an annual audited financial statement | ||
required by the department [ |
||
the end of the fourth month after the date the period covered by the | ||
financial statement ends. After the conclusion of an event and on | ||
the department's [ |
||
committee, endorsing municipality, or endorsing county must | ||
provide information relating to the event, such as attendance | ||
figures, including an estimate of the number of attendees at the | ||
event who are not residents of this state, financial information, | ||
or other public information held by the local organizing committee, | ||
endorsing municipality, or endorsing county that the department | ||
[ |
||
(j) Not later than the 30th day after the date a request of a | ||
local organizing committee, endorsing municipality, or endorsing | ||
county is submitted to the department [ |
||
Subsection (b-1) of this section, the department [ |
||
shall provide an estimate of the total amount of tax revenue that | ||
would be deposited in the Major Events reimbursement [ |
||
under this section in connection with that event, if the event were | ||
to be held in this state at a site selected pursuant to an | ||
application by a local organizing committee, endorsing | ||
municipality, or endorsing county. A local organizing committee, | ||
endorsing municipality, or endorsing county may submit the | ||
department's [ |
||
organization. | ||
(k) The department [ |
||
from the Major Events reimbursement [ |
||
approval of each contributing endorsing municipality or endorsing | ||
county for a purpose for which a local organizing committee, an | ||
endorsing municipality, or an endorsing county or the state is | ||
obligated under a game support contract or event support contract. | ||
If an obligation is incurred under a games support contract or event | ||
support contract to make a structural improvement to the site or to | ||
add a fixture to the site for purposes of an event and that | ||
improvement or fixture is expected to derive most of its value in | ||
subsequent uses of the site for future events, a disbursement from | ||
the [ |
||
five percent of the cost of the improvement or fixture and the | ||
remainder of the obligation is not eligible for a disbursement from | ||
the [ |
||
publicly owned facility. In considering whether to make a | ||
disbursement from the [ |
||
may not consider a contingency clause in an event support contract | ||
as relieving a local organizing committee's, endorsing | ||
municipality's, or endorsing county's obligation to pay a cost | ||
under the contract. A disbursement may not be made from the | ||
[ |
||
used for the purpose of soliciting the relocation of a professional | ||
sports franchise located in this state. | ||
(l) If a disbursement is made from the Major Events | ||
reimbursement [ |
||
the obligation shall be satisfied proportionately from the state | ||
and local revenue in the [ |
||
(m) On payment of all state, municipal, or county | ||
obligations under a game support contract or event support contract | ||
related to the location of any particular event in the state, the | ||
department [ |
||
proportion to the amount contributed by the entity, any money | ||
remaining in the [ |
||
(p) The department [ |
||
the responsibilities or duties set forth in this section unless: | ||
(1) a request is submitted by the municipality or the | ||
county in which the event will be located; | ||
(2) the event meets all the requirements for funding | ||
under this section, including Subsection (a-1) of this section; and | ||
(3) the request is accompanied by documentation from a | ||
site selection organization selecting the site for the event. | ||
(v) The department [ |
||
to implement this section. | ||
(w) Not later than 10 months after the last day of an event | ||
eligible for disbursements from the Major Events reimbursement | ||
[ |
||
[ |
||
the market area of the event on the measurable economic impact | ||
directly attributable to the preparation for and presentation of | ||
the event and related activities. The department [ |
||
shall post on the department's [ |
||
(1) the results of the study conducted under this | ||
subsection, including any source documentation or other | ||
information relied on by the department [ |
||
study; | ||
(2) the amount of incremental increase in tax receipts | ||
for the event determined by the department under Subsection (b) of | ||
this section; | ||
(3) the site selection organization documentation | ||
described in Subsection (p)(3) of this section; | ||
(4) any source documentation or information described | ||
under Subsection (i) of this section that was relied on by the | ||
department [ |
||
of incremental increase in tax receipts under Subsection (b) of | ||
this section; and | ||
(5) documentation verifying that: | ||
(A) a request submitted by a local organizing | ||
committee, endorsing municipality, or endorsing county under | ||
Subsection (p) of this section is complete and certified as such by | ||
the department [ |
||
(B) the determination on the amount of | ||
incremental increases in tax receipts under Subsection (b) of this | ||
section considered the information submitted by a local organizing | ||
committee, endorsing municipality, or endorsing county as required | ||
under Subsection (b-1) of this section; and | ||
(C) each deadline established under this section | ||
was timely met. | ||
(y) After the conclusion of an event, the department | ||
[ |
||
figures provided to the department [ |
||
(i) of this section with the estimated attendance numbers used to | ||
determine the incremental increase in tax receipts under Subsection | ||
(b) of this section. If the actual attendance figures are | ||
significantly lower than the estimated attendance numbers, the | ||
department [ |
||
for an endorsing entity under the Major Events reimbursement | ||
[ |
||
and estimated attendance and in proportion to the amount | ||
contributed to the fund by the entity. The department | ||
[ |
||
purposes of this subsection and provide the manner in which a | ||
disbursement may be proportionately reduced. This subsection does | ||
not affect the remittance of any money remaining in the fund in | ||
accordance with Subsection (m) of this section. | ||
SECTION 9. The heading to Section 5B, Chapter 1507 (S.B. | ||
456), Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), is amended to read as | ||
follows: | ||
Sec. 5B. GUARANTEE OF STATE AND MUNICIPAL OR COUNTY | ||
OBLIGATIONS; MOTOR SPORTS RACING REIMBURSEMENT [ |
||
SECTION 10. Sections 5B(b), (c), (d), (e), (f), (g), (h), | ||
(i), (j), (k), (l), (m), and (o), Chapter 1507 (S.B. 456), Acts of | ||
the 76th Legislature, Regular Session, 1999 (Article 5190.14, | ||
Vernon's Texas Civil Statutes), are amended to read as follows: | ||
(b) If a site selection organization selects a site for a | ||
motor sports racing event in this state pursuant to an application | ||
by a local organizing committee, endorsing municipality, or | ||
endorsing county, not later than three months before the date of the | ||
motor sports racing event, the department [ |
||
determine for the 30-day period that ends at the end of the day | ||
after the date on which the racing event will be held, in accordance | ||
with procedures developed by the department [ |
||
(1) the incremental increase in the receipts to the | ||
state from taxes imposed under Chapters 151, 152, 156, and 183, Tax | ||
Code, and under Title 5, Alcoholic Beverage Code, within the market | ||
areas designated under Subsection (c) of this section, that is | ||
directly attributable, as determined by the department | ||
[ |
||
racing event; | ||
(2) the incremental increase in the receipts collected | ||
by the state on behalf of each endorsing municipality in the market | ||
area from the sales and use tax imposed by each endorsing | ||
municipality under Section 321.101(a), Tax Code, and the mixed | ||
beverage tax revenue to be received by each endorsing municipality | ||
under Section 183.051(b), Tax Code, that is directly attributable, | ||
as determined by the department [ |
||
for and presentation of the racing event; | ||
(3) the incremental increase in the receipts collected | ||
by the state on behalf of each endorsing county in the market area | ||
from the sales and use tax imposed by each endorsing county under | ||
Section 323.101(a), Tax Code, and the mixed beverage tax revenue to | ||
be received by each endorsing county under Section 183.051(b), Tax | ||
Code, that is directly attributable, as determined by the | ||
department [ |
||
of the racing event; | ||
(4) the incremental increase in the receipts collected | ||
by each endorsing municipality in the market area from the hotel | ||
occupancy tax imposed under Chapter 351, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the racing event; and | ||
(5) the incremental increase in the receipts collected | ||
by each endorsing county in the market area from the hotel occupancy | ||
tax imposed under Chapter 352, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the racing event. | ||
(c) For the purposes of Subsection (b)(1) of this section, | ||
the department [ |
||
the motor sports racing event each area in which the department | ||
[ |
||
measurable economic impact directly attributable to the | ||
preparation for and presentation of the racing event, including | ||
areas likely to provide venues, accommodations, and services in | ||
connection with the racing event based on a proposal or other | ||
information provided by an endorsing municipality, endorsing | ||
county, or local organizing committee to the department | ||
[ |
||
geographic boundaries of each market area. An endorsing | ||
municipality or endorsing county that has been selected as the site | ||
for the racing event must be included in a market area for the | ||
racing event. | ||
(d) Each endorsing municipality or endorsing county shall | ||
remit to the comptroller and the comptroller shall deposit into a | ||
[ |
||
department, and designated as the Motor Sports Racing reimbursement | ||
[ |
||
municipality's or county's hotel occupancy tax revenue determined | ||
by the department under Subsection (b)(4) or (5) of this section, | ||
less any amount of the revenue that the municipality or county | ||
determines is necessary to meet the obligations of the municipality | ||
or county. The comptroller, at the direction of the department, | ||
shall retain the amount of sales and use tax revenue and mixed | ||
beverage tax revenue determined by the department under Subsection | ||
(b)(2) or (3) of this section from the amounts otherwise required to | ||
be sent to the municipality under Sections 321.502 and 183.051(b), | ||
Tax Code, or to the county under Sections 323.502 and 183.051(b), | ||
Tax Code, and deposit into the [ |
||
any amount of the revenue that the municipality or county | ||
determines is necessary to meet the obligations of the municipality | ||
or county. The comptroller shall begin retaining and depositing | ||
the local tax revenues with the first distribution of that tax | ||
revenue that occurs after the first day of the 30-day period | ||
described by Subsection (b) of this section and shall discontinue | ||
retaining the local tax revenues under this subsection when the | ||
amount of the applicable tax revenue determined under Subsection | ||
(b)(2) or (3) of this section has been retained. The Motor Sports | ||
Racing reimbursement [ |
||
treasury and is held in trust by the comptroller for administration | ||
of this section. Money in the [ |
||
department [ |
||
this section. | ||
(e) In addition to the tax revenue deposited in the Motor | ||
Sports Racing reimbursement [ |
||
this section, an endorsing municipality or endorsing county may | ||
guarantee its obligations under a motor sports racing event support | ||
contract and this section by pledging surcharges from user fees, | ||
including parking or ticket fees, charged in connection with the | ||
racing event. | ||
(f) The comptroller, at the direction of the department, | ||
shall transfer [ |
||
determined by the department under Subsection (b)(1) of this | ||
section in an amount equal to 6.25 times the amount of the local | ||
sales and use tax revenue and mixed beverage tax revenue retained | ||
and the hotel occupancy tax revenue remitted by an endorsing | ||
municipality or endorsing county under Subsection (d) of this | ||
section. | ||
(g) To meet its obligations under a motor sports racing | ||
event support contract or event support contract to improve, | ||
renovate, or acquire facilities or to acquire equipment, an | ||
endorsing municipality by ordinance or an endorsing county by order | ||
may authorize the issuance of notes. An endorsing municipality or | ||
endorsing county may provide that the notes be paid from and secured | ||
by amounts on deposit or amounts to be transferred or deposited into | ||
the Motor Sports Racing reimbursement [ |
||
from user fees, including parking or ticket fees, charged in | ||
connection with the racing event. Any note issued must mature not | ||
later than seven years from its date of issuance. | ||
(h) The money [ |
||
reimbursement [ |
||
interest on notes issued by an endorsing municipality or endorsing | ||
county under Subsection (g) of this section and to fulfill | ||
obligations of the state or an endorsing municipality or endorsing | ||
county to a site selection organization under a motor sports racing | ||
event support contract or event support contract, which obligations | ||
may include the payment of costs relating to the preparations | ||
necessary or desirable for the conduct of the racing event and the | ||
payment of costs of conducting the racing event, including | ||
temporary improvements or temporary renovations to existing | ||
facilities or other facilities specific to the event. | ||
(i) A local organizing committee, endorsing municipality, | ||
or endorsing county shall provide information required by the | ||
department [ |
||
fulfill the department's [ |
||
including annual audited statements of any financial records | ||
required by a site selection organization and data obtained by the | ||
local organizing committee, an endorsing municipality, or an | ||
endorsing county relating to attendance at the motor sports racing | ||
event and to the economic impact of the racing event. A local | ||
organizing committee, endorsing municipality, or endorsing county | ||
must provide an annual audited financial statement required by the | ||
department [ |
||
fourth month after the date the period covered by the financial | ||
statement ends. | ||
(j) The department [ |
||
not later than three months before the date of a motor sports racing | ||
event of the total amount of tax revenue that would be transferred | ||
to or deposited in the Motor Sports Racing reimbursement [ |
||
fund under this section in connection with that racing event, if the | ||
racing event were to be held in this state at a site selected | ||
pursuant to an application by a local organizing committee, | ||
endorsing municipality, or endorsing county. The department | ||
[ |
||
organizing committee, endorsing municipality, or endorsing county. | ||
A local organizing committee, endorsing municipality, or endorsing | ||
county may submit the department's [ |
||
site selection organization. | ||
(k) The department [ |
||
from the Motor Sports Racing reimbursement [ |
||
prior approval of each contributing endorsing municipality or | ||
endorsing county for a purpose for which an endorsing municipality | ||
or endorsing county or the state is obligated under a motor sports | ||
racing event support contract or event support contract. A | ||
disbursement may not be made from the [ |
||
department [ |
||
of soliciting the relocation of a professional sports franchise | ||
located in this state. | ||
(l) If a disbursement is made from the Motor Sports Racing | ||
reimbursement [ |
||
the obligation shall be satisfied proportionately from the state | ||
and local revenue in the [ |
||
(m) On payment of all state, municipal, or county | ||
obligations under a motor sports racing support contract or event | ||
support contract related to the location of any particular racing | ||
event in the state, the department [ |
||
each endorsing entity, in proportion to the amount contributed by | ||
the entity, any money remaining in the [ |
||
(o) The department [ |
||
the responsibilities or duties set forth in this section unless a | ||
request is submitted by the municipality and the county in which the | ||
motor sports racing event will be held. The request must be | ||
accompanied by documentation from a site selection organization | ||
selecting the site for the racing event. | ||
SECTION 11. The heading to Section 5C, Chapter 1507 (S.B. | ||
456), Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), is amended to read as | ||
follows: | ||
Sec. 5C. EVENTS REIMBURSEMENT [ |
||
MUNICIPALITIES AND COUNTIES. | ||
SECTION 12. Sections 5C(b), (b-1), (c), (c-1), (d), (d-1), | ||
(e), (f), (g), (h), (i), (j), (k), (k-1), (k-2), (l), (m), (o), (p), | ||
(q), (r), and (t), Chapter 1507 (S.B. 456), Acts of the 76th | ||
Legislature, Regular Session, 1999 (Article 5190.14, Vernon's | ||
Texas Civil Statutes), are amended to read as follows: | ||
(b) If a site selection organization selects a site for an | ||
event in this state pursuant to an application by a local organizing | ||
committee, endorsing municipality, or endorsing county, not later | ||
than three months before the date of the event, the department | ||
[ |
||
the end of the day after the date on which the event will be held or, | ||
if the event occurs on more than one day, after the last date on | ||
which the event will be held, in accordance with procedures | ||
developed by the department [ |
||
(1) the incremental increase in the receipts to this | ||
state from taxes imposed under Chapters 151, 152, 156, and 183, Tax | ||
Code, and under Title 5, Alcoholic Beverage Code, within the market | ||
areas designated under Subsection (c) of this section, that is | ||
directly attributable, as determined by the department | ||
[ |
||
and related activities; | ||
(2) the incremental increase in the receipts collected | ||
by this state on behalf of each endorsing municipality in the market | ||
area from the sales and use tax imposed by each endorsing | ||
municipality under Section 321.101(a), Tax Code, and the mixed | ||
beverage tax revenue to be received by each endorsing municipality | ||
under Section 183.051(b), Tax Code, that is directly attributable, | ||
as determined by the department [ |
||
for and presentation of the event and related activities; | ||
(3) the incremental increase in the receipts collected | ||
by this state on behalf of each endorsing county in the market area | ||
from the sales and use tax imposed by each endorsing county under | ||
Section 323.101(a), Tax Code, and the mixed beverage tax revenue to | ||
be received by each endorsing county under Section 183.051(b), Tax | ||
Code, that is directly attributable, as determined by the | ||
department [ |
||
of the event and related activities; | ||
(4) the incremental increase in the receipts collected | ||
by each endorsing municipality in the market area from the hotel | ||
occupancy tax imposed under Chapter 351, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the event and related | ||
activities; and | ||
(5) the incremental increase in the receipts collected | ||
by each endorsing county in the market area from the hotel occupancy | ||
tax imposed under Chapter 352, Tax Code, that is directly | ||
attributable, as determined by the department [ |
||
preparation for and presentation of the event and related | ||
activities. | ||
(b-1) The number of requests for funding under this section | ||
that may be submitted by an endorsing county or endorsing | ||
municipality during any 12-month period for an event for which the | ||
department [ |
||
incremental increase in tax receipts under Subsection (b) of this | ||
section is less than $200,000 is limited to, during any 12-month | ||
period, not more than 10 events, only three of which may be | ||
nonsporting events. | ||
(c) For the purposes of Subsection (b)(1) of this section, | ||
the department [ |
||
the event each area in which the department [ |
||
determines there is a reasonable likelihood of measurable economic | ||
impact directly attributable to the preparation for and | ||
presentation of the event and related activities, including areas | ||
likely to provide venues, accommodations, and services in | ||
connection with the event based on the proposal provided by the | ||
local organizing committee to the department [ |
||
department [ |
||
of each market area. An endorsing municipality or endorsing county | ||
that has been selected as the site for the event must be included in | ||
a market area for the event. | ||
(c-1) The department [ |
||
determination specified by Subsection (b) of this section on | ||
information submitted by the local organizing committee, endorsing | ||
municipality, or endorsing county, and must make the determination | ||
not later than the 30th day after the date the department | ||
[ |
||
(d) Each endorsing municipality or endorsing county shall | ||
remit to the comptroller and the comptroller shall deposit into a | ||
[ |
||
department, and designated as the Events reimbursement [ |
||
the amount of the municipality's or county's hotel occupancy tax | ||
revenue determined by the department under Subsection (b)(4) or (5) | ||
of this section, less any amount of the revenue that the | ||
municipality or county determines is necessary to meet the | ||
obligations of the municipality or county. The comptroller, at the | ||
direction of the department, shall retain the amount of sales and | ||
use tax revenue and mixed beverage tax revenue determined by the | ||
department under Subsection (b)(2) or (3) of this section from the | ||
amounts otherwise required to be sent to the municipality under | ||
Sections 321.502 and 183.051(b), Tax Code, or to the county under | ||
Sections 323.502 and 183.051(b), Tax Code, and deposit into the | ||
[ |
||
the municipality or county determines is necessary to meet the | ||
obligations of the municipality or county. The comptroller shall | ||
begin retaining and depositing the local tax revenues with the | ||
first distribution of that tax revenue that occurs after the first | ||
day of the period described by Subsection (b) of this section or at | ||
a time otherwise determined to be practicable by the department | ||
[ |
||
revenues under this subsection when the amount of the applicable | ||
tax revenue determined by the department under Subsection (b)(2) or | ||
(3) of this section has been retained. The Events reimbursement | ||
[ |
||
in trust by the comptroller for administration of this section. | ||
Money in the [ |
||
[ |
||
section. | ||
(d-1) Not later than the 90th day after the last day of an | ||
event and in lieu of the local tax revenues remitted [ |
||
retained [ |
||
a municipality or county may remit to the department [ |
||
for deposit in the Events reimbursement [ |
||
funds in an amount equal to the total amount of local tax revenue | ||
determined by the department under Subsections (b)(2) through (5) | ||
of this section. The amount deposited by the department | ||
[ |
||
subsection is subject to Subsection (f) of this section. | ||
(e) In addition to the tax revenue deposited in the Events | ||
reimbursement [ |
||
endorsing municipality or endorsing county may guarantee its | ||
obligations under an event support contract and this section by | ||
pledging surcharges from user fees, including parking or ticket | ||
fees, charged in connection with the event. An endorsing | ||
municipality or endorsing county may collect and remit to the | ||
department [ |
||
the event for deposit into the Events reimbursement [ |
||
(f) The comptroller, at the direction of the department, | ||
shall transfer [ |
||
a portion of the state tax revenue not to exceed the amount | ||
determined by the department under Subsection (b)(1) of this | ||
section in an amount equal to 6.25 times the amount of the local tax | ||
revenue retained or remitted under this section, including: | ||
(1) local sales and use tax revenue; | ||
(2) mixed beverage tax revenue; | ||
(3) hotel occupancy tax revenue; and | ||
(4) surcharge and user fee revenue. | ||
(g) To meet its obligations under an event support contract | ||
to improve, construct, renovate, or acquire facilities or to | ||
acquire equipment, an endorsing municipality by ordinance or an | ||
endorsing county by order may authorize the issuance of notes. An | ||
endorsing municipality or endorsing county may provide that the | ||
notes be paid from and secured by amounts on deposit or amounts to | ||
be transferred or deposited into the Events reimbursement [ |
||
fund or surcharges from user fees, including parking or ticket | ||
fees, charged in connection with the event. Any note issued must | ||
mature not later than seven years from its date of issuance. | ||
(h) The money in the Events reimbursement [ |
||
be used to pay the principal of and interest on notes issued by an | ||
endorsing municipality or endorsing county under Subsection (g) of | ||
this section and to fulfill obligations of this state or an | ||
endorsing municipality or endorsing county to a site selection | ||
organization under an event support contract. Subject to | ||
Subsection (k) of this section, the obligations may include the | ||
payment of costs relating to the preparations necessary for the | ||
conduct of the event and the payment of costs of conducting the | ||
event, including improvements or renovations to existing | ||
facilities or other facilities and costs of acquisition or | ||
construction of new facilities or other facilities. | ||
(i) A local organizing committee, endorsing municipality, | ||
or endorsing county shall provide information required by the | ||
department [ |
||
fulfill the department's [ |
||
including annual audited statements of any financial records | ||
required by a site selection organization and data obtained by the | ||
local organizing committee, an endorsing municipality, or an | ||
endorsing county relating to attendance at the event, including an | ||
estimate of the number of people expected to attend the event who | ||
are not residents of this state, and to the economic impact of the | ||
event. A local organizing committee, endorsing municipality, or | ||
endorsing county must provide an annual audited financial statement | ||
required by the department [ |
||
the end of the fourth month after the date the period covered by the | ||
financial statement ends. After the conclusion of an event and on | ||
the department's [ |
||
committee, endorsing municipality, or endorsing county must | ||
provide information relating to the event, such as attendance | ||
figures, including an estimate of the number of people who are not | ||
residents of this state who attended the event, financial | ||
information, or other public information held by the local | ||
organizing committee, endorsing municipality, or endorsing county | ||
that the department [ |
||
(j) The department [ |
||
not later than three months before the date of an event of the total | ||
amount of tax revenue that would be transferred into or deposited in | ||
the Events reimbursement [ |
||
connection with that event, if the event were to be held in this | ||
state at a site selected pursuant to an application by a local | ||
organizing committee, endorsing municipality, or endorsing county. | ||
The department [ |
||
to a local organizing committee, endorsing municipality, or | ||
endorsing county. A local organizing committee, endorsing | ||
municipality, or endorsing county may submit the department's | ||
[ |
||
(k) The department [ |
||
from the Events reimbursement [ |
||
each contributing endorsing municipality or endorsing county for a | ||
purpose for which a local organizing committee, an endorsing | ||
municipality, or an endorsing county or this state is obligated | ||
under an event support contract, including an obligation to pay | ||
costs incurred in the conduct of the event and costs incurred in | ||
making preparations necessary for the event. If an obligation is | ||
incurred under an event support contract to make a structural | ||
improvement to the site or to add a fixture to the site for purposes | ||
of an event and that improvement or fixture is expected to derive | ||
most of its value in subsequent uses of the site for future events, | ||
a disbursement from the [ |
||
obligation is limited to five percent of the cost of the improvement | ||
or fixture and the remainder of the obligation is not eligible for a | ||
disbursement from the [ |
||
fixture is for a publicly owned facility. In considering whether to | ||
make a disbursement from the [ |
||
[ |
||
support contract as relieving a local organizing committee's, | ||
endorsing municipality's, or endorsing county's obligation to pay a | ||
cost under the contract. | ||
(k-1) A disbursement may not be made from the [ |
||
that the department [ |
||
purpose of: | ||
(1) soliciting the relocation of a professional sports | ||
franchise located in this state; | ||
(2) constructing an arena, stadium, or convention | ||
center; or | ||
(3) conducting usual and customary maintenance of a | ||
facility. | ||
(k-2) Subsection (k-1) of this section does not prohibit: | ||
(1) a disbursement from the [ |
||
construction of temporary structures within an arena, stadium, or | ||
convention, if those temporary structures are necessary for the | ||
conduct of the event; or | ||
(2) temporary maintenance of a facility that is | ||
necessary for the preparation for or conduct of the event. | ||
(l) If a disbursement is made from the Events reimbursement | ||
[ |
||
shall be satisfied proportionately from the state and local revenue | ||
in the [ |
||
(m) On payment of all state, municipal, or county | ||
obligations under an event support contract related to the location | ||
of any particular event in this state, the department [ |
||
shall remit to each endorsing entity, in proportion to the amount | ||
contributed by the entity, any money remaining in the Events | ||
reimbursement [ |
||
(o) The department [ |
||
the responsibilities or duties set forth in this section unless a | ||
request is submitted by the municipality or the county in which the | ||
event will be located. The request must be accompanied by | ||
documentation from a site selection organization selecting the site | ||
for the event. | ||
(p) The department [ |
||
to implement this section. | ||
(q) In determining the amount of state revenue available | ||
under Subsection (b)(1) of this section, the department | ||
[ |
||
(1) the event has been held in this state on previous | ||
occasions; and | ||
(2) changes to the character of the event could affect | ||
the incremental increase in receipts collected and remitted to the | ||
state by an endorsing county or endorsing municipality under that | ||
subsection. | ||
(r) The department [ |
||
support contract and make the contract available on the | ||
department's [ |
||
department [ |
||
this subsection does not require use of the model event support | ||
contract for purposes of this section. | ||
(t) After the conclusion of an event, the department | ||
[ |
||
figures provided to the department [ |
||
(i) of this section with the estimated attendance numbers used to | ||
determine the incremental increase in tax receipts under Subsection | ||
(b) of this section. If the actual attendance figures are | ||
significantly lower than the estimated attendance numbers, the | ||
department [ |
||
for an endorsing entity under the Events reimbursement [ |
||
in proportion to the discrepancy between the actual and estimated | ||
attendance and in proportion to the amount contributed to the fund | ||
by the entity. The department [ |
||
"significantly lower" for purposes of this subsection and provide | ||
the manner in which a disbursement may be proportionately reduced. | ||
This subsection does not affect the remittance of any money | ||
remaining in the fund in accordance with Subsection (m) of this | ||
section. | ||
SECTION 13. Sections 6(a) and (b), Chapter 1507 (S.B. 456), | ||
Acts of the 76th Legislature, Regular Session, 1999 (Article | ||
5190.14, Vernon's Texas Civil Statutes), are amended to read as | ||
follows: | ||
(a) Except as provided by Subsections (b) and (d) of this | ||
section, an endorsing municipality or endorsing county must hold an | ||
election in the municipality or county to determine whether the | ||
municipality or county may contribute a portion of its sales and use | ||
taxes to the Olympic Games reimbursement [ |
||
5 of this Act. The election must be held on a uniform election date | ||
before the date a site selection organization requires the | ||
endorsing municipality or endorsing county and the state to enter | ||
into a joinder undertaking relating to the applicable games. | ||
(b) If an endorsing municipality or endorsing county is | ||
required to hold an election under this section and the | ||
contribution of a portion of the municipality's or county's sales | ||
and use taxes to the Olympic Games reimbursement [ |
||
Section 5 of this Act is not approved by a majority of the voters | ||
voting in the election: | ||
(1) the comptroller may not establish the Olympic | ||
Games reimbursement [ |
||
not retain the municipality's or county's tax revenue under Section | ||
5(d) of this Act from amounts otherwise required to be sent to that | ||
municipality or county, and may not transfer [ |
||
tax revenue into the [ |
||
(2) the department [ |
||
determine the incremental increase in state, county, or municipal | ||
tax revenue under Section 5(b) of this Act; and | ||
(3) the department may not enter into a games support | ||
contract relating to the games for which the municipality or county | ||
has authorized a bid on its behalf. | ||
SECTION 14. Section 7(f), Chapter 1507 (S.B. 456), Acts of | ||
the 76th Legislature, Regular Session, 1999 (Article 5190.14, | ||
Vernon's Texas Civil Statutes), is amended to read as follows: | ||
(f) The department may agree to execute a joinder | ||
undertaking, a joinder agreement, or other games support contract | ||
only if: | ||
(1) the department determines that: | ||
(A) the state's assurances and obligations under | ||
the undertaking, agreement, or contract are reasonable; and | ||
(B) any financial commitments of the state will | ||
be satisfied exclusively by recourse to the Pan American Games | ||
reimbursement [ |
||
[ |
||
(2) the endorsing municipality or endorsing county has | ||
executed an agreement with a site selection organization that | ||
contains substantially similar terms. | ||
SECTION 15. The following laws are repealed: | ||
(1) Section 5C(s), Chapter 1507 (S.B. 456), Acts of | ||
the 76th Legislature, Regular Session, 1999 (Article 5190.14, | ||
Vernon's Texas Civil Statutes); and | ||
(2) Chapter 398, Local Government Code. | ||
SECTION 16. As soon as is practicable after the effective | ||
date of this Act, but not later than September 10, 2015, the office | ||
of the governor and the comptroller of public accounts shall | ||
develop and adopt a memorandum of understanding that: | ||
(1) identifies in detail the applicable powers and | ||
duties of the comptroller that are being transferred to the office | ||
of the governor as a result of this Act; and | ||
(2) establishes a plan for the identification and | ||
transfer of records, property, and unspent appropriations of the | ||
comptroller that are used for purposes of managing the funds | ||
transferred to the office of the governor. | ||
SECTION 17. (a) Not later than September 10, 2015: | ||
(1) the administration of the Pan American Games | ||
reimbursement fund, Olympic Games reimbursement fund, Major Events | ||
reimbursement fund, Motor Sports Racing reimbursement fund, and | ||
Events reimbursement fund for sporting and non-sporting events | ||
shall be transferred from the comptroller of public accounts to the | ||
Texas Economic Development and Tourism Office; | ||
(2) all rules, forms, policies, procedures, or | ||
decisions of the comptroller that are related to the Pan American | ||
Games reimbursement fund, Olympic Games reimbursement fund, Major | ||
Events reimbursement fund, Motor Sports Racing reimbursement fund, | ||
and Events reimbursement fund for sporting and non-sporting events | ||
are continued in effect as rules, forms, policies, procedures, or | ||
decisions of the Economic Development and Tourism Division, Office | ||
of the Governor, until superseded by a rule or other appropriate act | ||
of the Texas Economic Development and Tourism Office; and | ||
(3) a reference in law or administrative rule to the | ||
comptroller relating to the decisions for and administration of the | ||
Pan American Games reimbursement fund, Olympic Games reimbursement | ||
fund, Major Events reimbursement fund, Motor Sports Racing | ||
reimbursement fund, and Events reimbursement fund for sporting and | ||
non-sporting events, other than a duty typically performed by the | ||
comptroller related to a state fund, means the Texas Economic | ||
Development and Tourism Office. | ||
(b) Before the transfer of the administration of the Pan | ||
American Games reimbursement fund, Olympic Games reimbursement | ||
fund, Major Events reimbursement fund, Motor Sports Racing | ||
reimbursement fund, and Events reimbursement fund for sporting and | ||
non-sporting events, the comptroller of public accounts and the | ||
Texas Economic Development and Tourism Office shall coordinate the | ||
transfer of powers and duties, including records and other items, | ||
in accordance with the memorandum of understanding adopted under | ||
Section 16 of this Act, to ensure a smooth transition. | ||
SECTION 18. Notwithstanding the repeal by this Act of | ||
Chapter 398, Local Government Code, a special event plan approved | ||
under former Chapter 398 of that code before September 1, 2015, is | ||
governed by the law as it existed immediately before the effective | ||
date of this Act, and that law is continued in effect for that | ||
purpose. | ||
SECTION 19. This Act takes effect September 1, 2015. |