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A BILL TO BE ENTITLED
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AN ACT
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relating to economic impact studies and other financial issues |
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affecting municipalities and counties that attempt to recruit or |
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retain special events. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (b), Section 398.004, Local |
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Government Code, is amended to read as follows: |
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(b) The economic impact study must identify the geographic |
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area expected to experience economic benefits from the special |
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event and provide an estimate of: |
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(1) the general economic impact likely to occur in the |
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area as a result of the event; and |
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(2) the anticipated amount of increase in the tax |
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receipts to this state from the taxes imposed under Title 5, |
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Alcoholic Beverage Code, and Chapters [Chapter] 151, 156, and 183, |
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Tax Code, that: |
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(A) will occur in the special event area during |
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the period that begins on the day before the first day of the event |
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and ends at the earlier of: |
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(i) the end of the day following the last |
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day of the event; or |
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(ii) the end of the 30th day after the day |
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before the first day of the event; and |
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(B) is directly attributable to the preparation |
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for and presentation of the event. |
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SECTION 2. Subsection (b), Section 398.006, Local |
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Government Code, is amended to read as follows: |
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(b) A special event plan must include: |
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(1) a copy of an economic impact study for the special |
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event that has been certified under Section 398.005; |
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(2) the history of the event in the special event area, |
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a description of previous attempts by the host community to secure |
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the event, information regarding attempts by other communities to |
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recruit the event, and any other information that would justify |
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approval of the amount of money requested for the event under this |
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chapter; |
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(3) a detailed explanation justifying each expense as |
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it relates to the purposes provided by Section 398.007(c) that each |
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political subdivision within a host community anticipates will be |
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incurred in connection with hosting the event and for which each |
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political subdivision intends to use revenue from the special event |
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trust fund established by the comptroller for the host community |
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under this chapter; |
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(4) an estimate of the total amount of expenses each |
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political subdivision within a host community anticipates will be |
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incurred in hosting the event; and |
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(5) a request that an amount of money, not to exceed |
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the lesser of [one-half of] the amount of the total expenses |
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estimated under Subdivision (4) or [one-half of] the amount of the |
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anticipated increase in tax receipts to this state described by |
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Section 398.004(b)(2) according to the certified economic impact |
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study, be deposited by the comptroller into a special event trust |
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fund for the host community. |
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SECTION 3. A host community whose economic impact study was |
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certified by the comptroller of public accounts under Subdivision |
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(2), Subsection (a), Section 398.005, Local Government Code, on or |
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after December 1, 2006, and before the effective date of this Act |
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may provide a supplemental economic impact study for consideration |
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and certification by the comptroller under Section 398.004, Local |
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Government Code, as amended by this Act, notwithstanding the |
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certification deadlines prescribed by Sections 398.004 and |
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398.006, Local Government Code, as amended by this Act, and Section |
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398.005, Local Government Code. |
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SECTION 4. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |
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