BILL ANALYSIS

 

 

Senate Research Center	S.B. 2182
86R15805 BEE-F	By: Nelson
	Natural Resources & Economic Development
	4/1/2019
	As Filed

 

 

 

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

Interested parties note Texas Motor Speedway (TMS) has a significant impact to both the region and state's economy as the events hosted at TMS draw thousands of visitors from within and outside Texas.

 

The Major Events Reimbursement Program (MERP) is an incentive program within the Office of the Governor targeted at attracting various types of events to the state of Texas. The funds can assist Texas communities with paying costs related to preparing for or conducting an event by depositing projected gains in various local and state taxes generated from the event in a dedicated event-specific trust fund to cover allowable expenses.

 

TMS is currently eligible for the MERP, however TMS is undergoing renovations that will impact the number of seats within TMS, thus impacting TMS' description in statute. S.B. 2182 ensures TMS remains eligible for the MERP as it undergoes renovation.

 

As proposed, S.B. 2182 amends current law relating to the eligibility of certain events for funding under the Major Events Reimbursement Program.

 

RULEMAKING AUTHORITY

 

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

 

SECTION BY SECTION ANALYSIS

 

SECTION 1. Amends Section 5A(a)(4), Chapter 1507 (S.B. 456), Acts of the 76th Legislature, Regular Session, 1999 (Article 5190.14, V.T.C.S.) to define "event" to mean certain events, including the largest event held each year at a sports entertainment venue in this state with a permanent seating capacity, including grandstand and premium seating, of not less than 125,000 as of September 1, 2019, for purposes of this section (Payment of State and Municipal or County Obligations Under Major Events Reimbursement Program).

 

SECTION 2. Amends Section 5A(a-2), Chapter 1507 (S.B. 456), Acts of the 76th Legislature, Regular Session, 1999 (Article 5190.14, V.T.C.S.), as follows:

 

(a-2) Provides that Subsection (a-1)(1) (relating to authorizing an event otherwise prohibited from receiving funding through the Major Events Reimbursement Program only if a certain site is selected for the event) of this section does not apply to an event that is the largest event held each year at a sports entertainment venue in this state with a permanent seating capacity, including grandstand and premium seating, of not less than 125,000 as of September 1, 2019.

 

SECTION 3. Effective date: September 1, 2019.