Texas Senate Bill SB1392

Texas 2013 - 83rd Regular

Caption

Relating to an audit by the state auditor and a study by the comptroller of the events trust funds.

Impact

In addition to the audit, SB1392 requires the comptroller of public accounts to study the economic impact of the events funded through the trust funds. This includes an evaluation of whether these events would have been held in Texas without the financial incentives provided by the trust fund. The findings from this study are crucial for understanding the return on investment for taxpayers and will guide future funding decisions associated with host events that seek state support.

Summary

Senate Bill 1392 focuses on enhancing the accountability and transparency of the events trust funds managed by the state of Texas. The bill mandates that the state auditor conduct an audit to evaluate the efficiency and effectiveness of disbursing funds from these events trust funds, ensuring compliance with the regulations and agreements established by the state. The audit is aimed at assessing whether the funds are being managed correctly and responsibly, examining financial controls, and identifying areas where improvements can be made to safeguard public funds.

Conclusion

Ultimately, SB1392 aims to establish a framework for better management and evaluation of Texas's events trust funds, promoting fiscal responsibility while attempting to balance the interests of stakeholders involved in event planning and execution within the state.

Contention

There were some points of contention surrounding SB1392, particularly regarding the implications for local economies that benefit from events funded through these trust funds. Proponents argue that the scrutiny introduced by the bill will lead to more effective use of state resources and improved outcomes for Texas communities hosting these events. However, some critics raise concerns that excessive regulation may deter event planners from choosing Texas as a venue, thus potentially impacting local businesses and tourism negatively.