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.
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)
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.
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.
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.
Campaign finance: contributions and expenditures; provision related to officeholders raising funds when facing a recall; modify, and require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
Campaign finance: contributions and expenditures; funds donated to a candidate for recall efforts; require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
A concurrent resolution recognizing wild rice as sacred and central to the culture and health of Indigenous Peoples in Minnesota and critical to the health and identity of all Minnesota citizens and ecosystems and establishing a commitment to passing legislation to protect wild rice and the freshwater resources upon which it depends.