Honorable John Carona, Chair, Senate Committee on S/C on Emerging Technologies & Economic Dev.
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB657 by Madla (Relating to the expiration of the other events trust fund established to support local efforts to recruit or retain certain sports events.), As Introduced
No significant fiscal implication to the State is anticipated.
Currently, the Other Events Trust Fund Section will expire on January 1, 2007. This bill would repeal the expiration date and make the Other Events Trust Fund permanent.
It is not known whether or when any events applicable to the Other Events Trust Fund would be chosen to be hosted by Texas in the future, or if the participating municipalities or counties would hold an election to approve its portion of the applicable taxes being sent to the Other Events Trust Fund and if the proposal would be approved by the voters. Therefore, the fiscal impact on state and local governments cannot be estimated.
Local Government Impact
The fiscal impact on local governments cannot be estimated.