Comptroller Proposes Rules on Event Trust Funds
The Texas comptroller has proposed administrative rule amendments to implement the changes made by S.B. 1678, passed last legislative session. S.B. 1678 made several changes to way the Major Events Trust Fund and Events Trust Fund operate, including adding eligibility, reporting, and disbursement requirements for both funds.
At the most basic level, both the Major Events Trust Fund and the Events Trust Fund are programs administered by the comptroller to offer incentive funding to help Texas cities and counties host certain sporting events and conventions.
Events eligible for funding from the Major Events Trust fund include the Super Bowl, NCAA Final Four, Academy of Country Music Awards, and national political conventions of the Republican National Committee or Democratic National Committee, among others.
The Events Trust Fund, on the other hand, has funded smaller-scale sporting events like cutting horse competitions and NCAA swimming and diving championships. The Events Trust Fund can also be used for certain non-sporting events, like conventions and conferences.
The proposed rules can be accessed at:
Comments on the proposals may be submitted to Robert Wood, Director, Local Government Assistance and Economic Development Division, at email@example.com or at P.O. Box 13528 Austin, Texas 78711. Questions can be submitted to the comptroller’s office at EventTrustFunds@cpa.state.tx.us.
There is no stated deadline for submission of comments, but the date of earliest adoption of the proposed rules is listed as April 6, 2014.