This bill establishes the Iowa Major Events and Tourism Program and Fund, aimed at providing financial assistance to eligible entities that support tourism-oriented events in Iowa. The program will offer grants to nonprofit organizations involved in events that generate significant attendance, publicity, and economic impact. Eligible entities must be actively involved in the bidding process for the event and submit an economic analysis detailing projected hotel occupancy and attendee numbers. The bill outlines the application process, requiring a staff evaluation by the economic development authority, which will then forward the application to the board for final funding decisions. The board has the discretion to approve, deny, or modify applications and must consider various factors, including the event's economic impact and potential to attract visitors.

Additionally, the bill appropriates $15 million from the sports wagering receipts fund for the fiscal year 2025-2026 to support the Iowa Major Events and Tourism Fund. It also modifies the existing sports tourism marketing and infrastructure program by repealing the marketing program while retaining the infrastructure program. Any remaining funds from the repealed marketing program will be transferred to the new Iowa Major Events and Tourism Fund. The bill emphasizes that entities receiving financial assistance under this new program will not be eligible for support from the sports tourism infrastructure program.

Statutes affected:
Introduced: 15.106A, 15F.401, 15J.4, 15F.403, 15F.402