Texas Senate Bill SB390

Texas 2017 - 85th Regular

• Filed: 12/20/16

Caption

Relating to abolishing the Motor Sports Racing trust fund.

Impact

If enacted, SB390 would significantly impact the financial landscape for motor sports racing events in Texas. The abolition of the trust fund means that local organizing committees, municipalities, and counties may need to seek alternative funding sources, which could lead to a reduction in the number of events hosted or significant changes to the event management process. The state would no longer play a direct role in financing these events, potentially affecting local economies that benefit from the influx of participants and spectators at motor sports events.

Summary

SB390 is a legislative proposal aimed at abolishing the Motor Sports Racing trust fund in Texas, originally instituted to provide financial support for motor sports events within the state. The bill seeks to repeal Section 5B of Chapter 1507 from the Acts of the 76th Legislature, effectively eliminating the funding mechanism that allocates state resources to promote and support motor sports racing events. In essence, this bill signifies a shift in how such events will be funded in the future, placing less reliance on state-managed trust funds.

Contention

While the bill aims to streamline state funding and possibly reallocate resources to other priorities, it is also expected to spark debate regarding the value of motor sports in Texas. Supporters of SB390 may argue that state funds could be better utilized for other pressing needs, whereas opponents could contend that the loss of this funding might hinder economic opportunities and diminish the state's vibrant motor sports culture. The discussions surrounding SB390 highlight the ongoing tension between budgetary constraints and the desire to promote local events that contribute to community engagement and economic activity.