H.B. 1675 78(R) BILL ANALYSIS H.B. 1675 By: Menendez Economic Development Committee Report (Unamended) BACKGROUND AND PURPOSE The Texas Legislature created the Pan American Games Trust Fund in 1999 to satisfy requirements of the United States Olympic Committee and the Pan American Sports Organization relating to financial requirements to host the 2007 Pan American Games. The City of San Antonio was designated as the U.S. Bid City for the 2007 Games, but lost in the selection process to Rio de Janeiro, Brazil. Had San Antonio been selected as the 2011 Pan American Games Host City, the Comptroller would have been directed to estimate the amount of state and local tax revenues that are generated by the Games and place that amount in the Trust Fund to secure financial performance by the Host City and the State of Texas. HB 1675 would extend current law to permit a Texas city to be an applicant to host the 2011 Pan American Games by re-creating the Pan American Games Trust Fund for that event. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS HB 1675 amends Article 5190.4 Vernon's Texas Civil Statutes to extend the time periods relating to the Pan-American Games by four years. EFFECTIVE DATE Upon passage, or, if the act does not receive the necessary vote, the Act takes effect September1, 2003.