LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION February 23, 2015 TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB293 by Nelson (Relating to a clarification of the law governing eligibility of National Association for Stock Car Auto Racing events for funding under the Major Events trust fund.), As Introduced The fiscal implications of the bill cannot be determined at this time. The fiscal impact would depend on the number and size of events covered under the bill. The bill would amend Vernon's Texas Civil Statutes, Article 5190.14, Section 5A, relating to the Major Events Trust Fund (METF) to add the National Association for Stock Car Auto Racing (NASCAR) as an approved site selection organization. Eligibility for participation in the METF is limited to those events listed in statute, provided that the site selection organization selecting a site is also listed in statute. Adding a site selection organization could potentially expand the number of events eligible to receive funding through the METF. The bill would take effect immediately upon receipt of a two-thirds majority vote of all members elected to each house. Otherwise, the bill would take effect on September 1, 2015. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, SZ, EP, LCO, KVe
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
February 23, 2015
TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB293 by Nelson (Relating to a clarification of the law governing eligibility of National Association for Stock Car Auto Racing events for funding under the Major Events trust fund.), As Introduced
TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB293 by Nelson (Relating to a clarification of the law governing eligibility of National Association for Stock Car Auto Racing events for funding under the Major Events trust fund.), As Introduced
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB293 by Nelson (Relating to a clarification of the law governing eligibility of National Association for Stock Car Auto Racing events for funding under the Major Events trust fund.), As Introduced
SB293 by Nelson (Relating to a clarification of the law governing eligibility of National Association for Stock Car Auto Racing events for funding under the Major Events trust fund.), As Introduced
The fiscal implications of the bill cannot be determined at this time. The fiscal impact would depend on the number and size of events covered under the bill.
The fiscal implications of the bill cannot be determined at this time. The fiscal impact would depend on the number and size of events covered under the bill.
The bill would amend Vernon's Texas Civil Statutes, Article 5190.14, Section 5A, relating to the Major Events Trust Fund (METF) to add the National Association for Stock Car Auto Racing (NASCAR) as an approved site selection organization. Eligibility for participation in the METF is limited to those events listed in statute, provided that the site selection organization selecting a site is also listed in statute. Adding a site selection organization could potentially expand the number of events eligible to receive funding through the METF. The bill would take effect immediately upon receipt of a two-thirds majority vote of all members elected to each house. Otherwise, the bill would take effect on September 1, 2015.
The bill would amend Vernon's Texas Civil Statutes, Article 5190.14, Section 5A, relating to the Major Events Trust Fund (METF) to add the National Association for Stock Car Auto Racing (NASCAR) as an approved site selection organization.
Eligibility for participation in the METF is limited to those events listed in statute, provided that the site selection organization selecting a site is also listed in statute. Adding a site selection organization could potentially expand the number of events eligible to receive funding through the METF.
The bill would take effect immediately upon receipt of a two-thirds majority vote of all members elected to each house. Otherwise, the bill would take effect on September 1, 2015.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, SZ, EP, LCO, KVe
UP, SZ, EP, LCO, KVe