Relating to a municipality's or county's eligibility to receive money disbursed from a local events trust fund.
Impact
The bill modifies existing statutes to restrict the eligibility of municipalities and counties to receive further funding for events in the same calendar year if they have already received funds for another event. This change is expected to streamline the process of funding allocation and prevent multiple funding requests that could lead to resource overextension. Additionally, the bill includes provisions for the retention of certain tax revenues, which are to be deposited into the Local Events Trust Fund, thus creating a more sustainable financial model for funding local events.
Summary
House Bill 1950 relates to the eligibility of municipalities and counties to receive funds disbursed from a Local Events Trust Fund. The bill aims to outline the specific conditions under which these local entities can secure funding for hosting events, emphasizing the importance of local events in stimulating economic growth within their regions. The amended sections clarify the relationship between the funds allocated to these entities and their previous funding applications, ensuring accountability and transparency in their financial dealings with the state.
Contention
Some points of contention surrounding HB 1950 revolve around the limitations it places on municipalities and counties regarding their ability to secure financial support for multiple events within the same year. While supporters argue that this measure will promote responsible funding practices and enhance the effectiveness of the Local Events Trust Fund, critics may view it as a restriction that could hinder local initiatives and the ability to host several significant events in a single year. The balance between encouraging local event hosting and imposing funding limitations is a critical area of debate among stakeholders.
Notable_points
The bill establishes a clear mechanism for the disbursement of funds while also ensuring that municipalities and counties maintain a level of fiscal responsibility. The requirement for entities to remit certain revenues back into the Trust Fund positions the bill as a proactive approach to event funding, promoting a collaborative relationship between the state and its local governments. Overall, HB 1950 is designed to optimize the use of state resources for local event promotion, thus enhancing the vibrancy of community initiatives.
Relating to the promotion of film and television production in this state, including the eligibility of film or television productions for funding under the major events reimbursement program, the creation of a film events trust fund and a film production tax rebate trust fund, the establishment of virtual film production institutes, and the designation of media production development zones.
Relating to prohibiting the disbursement of certain economic and tax incentives to entities that assist, refer, or otherwise encourage a woman to obtain an abortion.
Relating to nonsubstantive additions to, revisions of, and corrections in enacted codes and to the nonsubstantive codification or disposition of various laws omitted from enacted codes.
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 abolishing the property tax assistance division of the office of the comptroller of public accounts and transferring its powers and duties to the newly created State Property Tax Board.
Relating to a study of the feasibility and benefits to this state of abolishing the property tax assistance division of the office of the comptroller of public accounts and transferring its powers and duties to an independent agency.