Honorable Angie Chen Button, Chair, House Committee on Economic & Small Business Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1292 by Rodriguez, Eddie (Relating to renaming the Major Events trust fund to the Major Events Reimbursement Program.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Article 5190.14, Section 5A, of Vernon's Texas Civil Statutes, to change the name of the Major Events Trust Fund (METF) to the Major Events Reimbursement Program (MERP). The bill also would change the name of the account holding each individual event's monies from the Major Events trust fund to the Major Events reimbursement program fund. It is assumed that implementing the provisions of the bill can be absorbed within existing resources.
The bill would take effect immediately upon receiving two-thirds majority vote in each house. Otherwise, it would take effect September 1, 2015.
Local Government Impact
No fiscal implication to units of local government is anticipated.