Honorable Angie Chen Button, Chair, House Committee on Economic & Small Business Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3294 by Parker (Relating to the eligibility of certain NASCAR events to receive funding through the Major Events Reimbursement Program.), As Introduced
The fiscal implications of the bill cannot be determined at this time. The fiscal impact would depend on the number and size of events covered under the bill.
The bill would amend Vernon's Texas Civil Statutes relating to the eligibility of certain National Association for Stock Car Auto Racing (NASCAR) events to receive funding through the Major Events Reimbursement Program (MERP). Eligibility for participation in the MERP is limited to those events listed in statute, provided that the site selection organization selecting a site is also listed in statute.
The bill would expand the number of events eligible to receive funding through the MERP. The specific fiscal impact to the state is unknown as the size and number of events that would become eligible and held in this state is unknown.
The bill would take effect immediately upon receiving two-thirds majority vote in each house. Otherwise, the bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
300 Trusteed Programs Within the Office of the Governor