Louisiana 2011 Regular Session

Louisiana Senate Bill SR137

Introduced

6/21/11

Passed

6/23/11

Caption

Requests study of the feasibility of establishing trust funds to support the hosting of major sport events.

Impact

If implemented, the committee would conduct research to present findings and recommendations to the Senate by January 1, 2012. The establishment of trust funds could potentially streamline financing for events and ensure that local authorities receive support for the costs associated with hosting. Such a framework could lead to increased investment in community development as major sports events often generate additional tax revenue, benefiting both the state and local economies. This focus on major sports events aligns with broader economic development strategies aimed at attracting tourism and fostering community engagement.

Summary

Senate Resolution 137 (SR137) proposes the establishment of a Major Sport Event Funding Committee in Louisiana. This committee's primary role is to study the feasibility of creating trust funds specifically dedicated to supporting the hosting of major sports events across the state. The resolution highlights Louisiana's prominence as a venue for such events, including the Super Bowl, NCAA championships, and various tournaments that significantly benefit local economies and the hospitality industry. By assessing the viability of trust funds, the resolution seeks to explore how these financial mechanisms could further enhance Louisiana's capability to host high-profile sporting activities.

Sentiment

The general sentiment surrounding SR137 appears to be largely supportive, as it aligns with the interests of stakeholders in the sports community and local economic development sectors. Recognizing the significance of major sports events in driving economic growth and community visibility, there is likely to be broad support from various entities involved in sports promotion and hospitality. The resolution is expected to foster collaboration among universities, local sports foundations, and governmental bodies, reinforcing a collective interest in maximizing the benefits of hosting significant sporting events.

Contention

While the resolution itself does not present direct points of contention, it could potentially raise discussions around funding allocation and priorities. Some stakeholders may express concerns regarding the financial implications of establishing such trust funds, especially in the context of state budget constraints. Additionally, the effectiveness of a committee designed to study feasibility must be assessed in terms of how well it represents diverse interests across Louisiana, ensuring that both urban and rural communities can benefit from the economic opportunities presented by major sports events.

Companion Bills

No companion bills found.

Previously Filed As

LA SR32

Establishes the Major Event Funding Study Committee for the purpose of determining the feasibility of establishing trust funds to support the hosting of major events in Louisiana. (EN NO IMPACT GF EX See Note)

LA SB1515

Relating to a major events trust fund, a motor sports racing trust fund, and an events trust fund for sporting and non-sporting events.

LA HB2437

Relating to a major events trust fund and an events trust fund for sporting and non-sporting events.

LA HB3613

Relating to a Pan American Games trust fund, an Olympic Games trust fund, a Major Events trust fund, a Motor Sports Racing trust fund, and an Events trust fund for sporting and non-sporting events, and to the abolishment of the special event trust fund.

LA HB398

Relating to special event trust funds used to promote major athletic, motor sports racing, and other special events in this state.

LA SB392

Relating to abolishing the Major Events Trust fund, the Events trust fund, and the Motor Sports Racing trust fund.

LA HB4174

Relating to the nonsubstantive revision of the event reimbursement programs, including the Pan American Games trust fund, Olympic Games trust fund, Major Events reimbursement program fund, Motor Sports Racing trust fund, and Events trust fund; including conforming amendments.

LA SB341

Provides relative for the Major Events Incentive Fund and Program and the Events Incentive Fund and Program. (gov sig) (EN -$500,000 GF EX See Note)

LA SB1678

Relating to the events and expenses eligible for, reporting requirements concerning disbursements from, and a study by the comptroller of the Major Events trust fund and the Events trust fund.

LA SB218

Establishes a program to attract major events to the state and dedicates funds therefor. (7/1/15) (EN DECREASE GF RV See Note)

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