Title GV, Government Code

Sec. 480.00515. SINGLE YEAR CLASSIFICATION FOR ELIGIBILITY PURPOSES FOR CERTAIN SPORTING EVENTS. For purposes of Sections 480.0051(1) and (3), a sporting event is considered to be held one time in each year if the event is held only one time in any annual season for that sport. A…

Sec. 480.0052. LIMITATIONS ON CERTAIN FUNDING REQUESTS. (a) This section applies only to an event for which the office determines under Section 480.0102 that the total incremental increase in tax receipts is less than $200,000. (b) Subject to Subsection (c), an endorsing municipa…

Sec. 480.0101. PREREQUISITES FOR OFFICE ACTION. The office may not undertake any duty imposed by this chapter unless: (1) the municipality or county in which an event will be located submits a request; and (2) the request is accompanied by documentation from a site selection orga…

Sec. 480.0102. DETERMINATION OF INCREMENTAL INCREASE IN CERTAIN TAX RECEIPTS. (a) After a site selection organization selects a site for an event in this state in accordance with an application by a local organizing committee, endorsing municipality, or endorsing county, the offi…

Sec. 480.0103. TIME FOR DETERMINATION. The office shall determine the incremental increase in tax receipts under Section 480.0102 not later than the earlier of: (1) the 30th day after the date the office receives the information for an event submitted by a local organizing commit…

Sec. 480.0104. DESIGNATION OF MARKET AREA. (a) For purposes of Section 480.0102(a)(1), the office shall designate as a market area for an event each area in which the office determines there is a reasonable likelihood of measurable economic impact directly attributable to the pre…

Sec. 480.0105. ESTIMATE OF TAX REVENUE CREDITED TO FUND. (a) Not later than three months before the date of an event, the office shall provide an estimate of the total amount of tax revenue that would be transferred or deposited to the events trust fund under this chapter in conn…

Sec. 480.0106. MODEL EVENT SUPPORT CONTRACT. (a) The office may adopt a model event support contract and make the contract available on the office's Internet website. (b) The office's adoption of a model event support contract under this section does not require use of the model …

Sec. 480.0151. EVENTS TRUST FUND. The events trust fund is established outside the state treasury and is held in trust by the comptroller for administration of this chapter. Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.

Sec. 480.0152. DEPOSIT OF MUNICIPAL AND COUNTY TAX REVENUE. (a) Each endorsing municipality or endorsing county shall remit to the comptroller and the comptroller shall deposit into a trust fund created by the comptroller, at the direction of the office, and designated as the eve…

Sec. 480.0153. OTHER LOCAL MONEY. (a) In lieu of the municipal and county tax revenues remitted or retained under Section 480.0152, an endorsing municipality or endorsing county may remit to the office for deposit to the events trust fund other local money in an amount equal to t…

Sec. 480.0154. SURCHARGES AND USER FEES. An endorsing municipality or endorsing county may collect and remit to the office surcharges and user fees attributable to an event for deposit to the events trust fund. Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, …

Sec. 480.0155. STATE TAX REVENUE. (a) The comptroller, at the direction of the office, shall transfer to the events trust fund a portion of the state tax revenue in an amount equal to 6.25 multiplied by the amount of the municipal and county tax revenue retained or remitted under…

Sec. 480.0201. DISBURSEMENT WITHOUT APPROPRIATION. Money in the events trust fund may be disbursed by the office without appropriation only as provided by this chapter. Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.

Sec. 480.0202. DISBURSEMENT FROM FUND. (a) After approval of each contributing endorsing municipality and endorsing county, the office may make a disbursement from the events trust fund for a purpose for which a local organizing committee, an endorsing municipality, an endorsing …

Sec. 480.0203. REDUCTION OF DISBURSEMENT AMOUNT. (a) After the conclusion of an event, the office shall compare information on the actual attendance figures provided under Section 480.0251 with the estimated attendance numbers used to determine the incremental increase in tax rec…

Sec. 480.0204. ALLOWABLE EXPENSES. (a) Money in the events trust fund may be used to: (1) pay the principal of and interest on notes issued under Section 480.0252; and (2) fulfill obligations of an endorsing municipality, an endorsing county, or this state to a site selection org…

Sec. 480.0205. LIMITATION ON CERTAIN DISBURSEMENTS. (a) A disbursement from the events trust fund is limited to five percent of the cost of a structural improvement or a fixture if: (1) an obligation is incurred under an event support contract to make the improvement or add the f…

Sec. 480.0206. PROHIBITED DISBURSEMENTS. (a) Subject to Subsection (b), the office may not make a disbursement from the events trust fund that the office determines would be used to: (1) solicit the relocation of a professional sports franchise located in this state; (2) construc…

Sec. 480.0207. REMITTANCE OF REMAINING FUND MONEY. On payment of all municipal, county, or state obligations under an event support contract related to the location of an event in this state, the office shall remit to each endorsing entity, in proportion to the amount contributed…

Sec. 480.0251. REQUIRED INFORMATION. (a) A local organizing committee, endorsing municipality, or endorsing county shall provide information required by the office to fulfill the office's duties under this chapter, including: (1) annual audited statements of any financial records…

Sec. 480.0252. ISSUANCE OF NOTES. (a) To meet its obligations under an event support contract to improve, construct, renovate, or acquire facilities or to acquire equipment, an endorsing municipality by ordinance or an endorsing county by order may authorize the issuance of notes…

Sec. 480.0253. PLEDGE OF SURCHARGES TO GUARANTEE OBLIGATIONS. An endorsing municipality or endorsing county may guarantee its obligations under an event support contract and this chapter by pledging, in addition to the tax revenue deposited under Section 480.0152, surcharges from…