Finance & Revenue
In the spring of 2014, Attorney General Opinion, [GA-1052], illuminated a drafting error in SB 1678 (2013) that prohibited funds from being awarded when the site selection committee for an event isn’t on the statutory laundry list.
A quagmire emerged for events that thought they qualified for reimbursements. Unhappy event organizers. Happy lawyers.
Welcome to the Remedy: HB 902 , a short bill that adds NASCAR to the site selection list.
SB 1678 (2013) added events to the Major Events Trust Fund recipient pool.
Nobel goal to draw events and the corresponding tax revenue to Texas.
But, when you draft these bills you have to remember that just adding an event to the list isn’t enough. You have to add the ability to award those funds to the event too. Want to know how to draft a bill like this? Read [GA-1052]
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Great things are just around the corner!