Title GV, Government Code

Sec. 476.0053. DESIGNATION OF MARKET AREA. (a) For purposes of Section 476.0051(a)(1), the office shall designate as a market area for the games each area in which the office determines there is a reasonable likelihood of measurable economic impact directly attributable to the pr…

Sec. 476.0054. ESTIMATE OF TAX REVENUE CREDITED TO TRUST FUND. (a) Not later than September 1 of the year that is eight years before the year the games would be held in this state, the office shall provide an estimate of the total amount of municipal and state tax revenue that wo…

Sec. 476.0101. PAN AMERICAN GAMES TRUST FUND. The Pan American Games trust fund is established outside the state treasury. The trust fund is held in trust by the comptroller for administration of this subtitle. Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, …

Sec. 476.0102. DEPOSIT OF MUNICIPAL TAX REVENUE. (a) Subject to Section 476.0104, the endorsing municipality shall deposit to the trust fund the amount of the municipality's hotel occupancy tax revenue determined under Section 476.0051(a)(3). The endorsing municipality shall depo…

Sec. 476.0103. STATE TAX REVENUE. (a) At the time the endorsing municipality deposits to the trust fund its hotel occupancy tax revenue under Section 476.0102(a), the comptroller, at the direction of the office, shall transfer to the trust fund a portion of the state tax revenue …

Sec. 476.0104. LIMITATION ON TRANSFERS AND DEPOSITS TO TRUST FUND. The total amount of municipal and state tax revenue transferred or deposited to the trust fund may not exceed $20 million. Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021. S…

Sec. 476.0151. DISBURSEMENT WITHOUT APPROPRIATION. Money in the trust fund may be spent by the office without appropriation only as provided by this subtitle. Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.

Sec. 476.0152. DISBURSEMENT FROM TRUST FUND. (a) The office may make a disbursement from the trust fund only if the office certifies that the disbursement is for a purpose for which this state and the endorsing municipality are jointly obligated under a games support contract or …

Sec. 476.0153. ALLOWABLE EXPENSES. The office may use money in the trust fund only to fulfill joint obligations of this state and the endorsing municipality to a site selection organization under a games support contract or another agreement providing assurances from the office o…

Sec. 476.0154. TRANSFER AND REMITTANCE OF REMAINING TRUST FUND MONEY. (a) On January 1 of the second year following the year in which the games are held in this state, the comptroller, at the direction of the office, shall transfer to the general revenue fund the amount of state …

Sec. 476.0201. REQUIRED INFORMATION. (a) A local organizing committee shall provide information required by the office to fulfill the office's duties under this subtitle, including: (1) annual audited statements of any committee financial records required by a site selection orga…

Sec. 476.0202. PLEDGE OF SURCHARGES TO GUARANTEE OBLIGATIONS. An endorsing municipality may guarantee its obligations under a games support contract and this subtitle by pledging, in addition to municipal sales and use tax revenue retained under Section 476.0102(b), surcharges fr…

Sec. 476.0251. LIMITATION AMOUNTS. The joint liability of this state and the endorsing municipality under a joinder agreement and any other games support contracts entered into under this subtitle may not exceed the lesser of: (1) $20 million; or (2) the total amount of revenue t…