|
Senate Bill 1253 |
Senate Author: Brimer et al. |
|
Effective: 9-1-05 |
House Sponsor: Goodman |
Senate Bill 1253 amends the Local Government Code to allow a municipality or county hosting or assisting in the presentation of a special event to use a portion of the sales tax revenue generated by the event to pay certain expenses incurred in connection with the event. The bill requires a prospective host community to submit an economic impact study to the comptroller for certification, and it requires the comptroller to certify the study if it accurately estimates the increase in tax receipts to the state or to submit a preliminary determination to the host community with an opportunity to respond or submit a new or amended study if the study does not accurately estimate tax receipts.
The bill requires a host community requesting money to submit a special event plan to the Texas Economic Development and Tourism Office (TEDTO), including a copy of the certified economic impact study, a detailed justification of each expense that each political subdivision within the host community expects to incur, an estimate of the total anticipated expenses, and a request that a specified amount of money be deposited by the comptroller into a special event trust fund for the host community. The bill requires TEDTO to submit the plan to the governor, lieutenant governor, and speaker of the house of representatives for approval and, if it is approved and the community is selected to host the event, requires the comptroller to deposit the amount requested into a fund established by the comptroller for the host community. The bill also limits the use of money in the fund to specific purposes and prohibits the host community from using such funds to construct a facility.