The bill, H.B. No. 3349, proposes significant changes to the events trust fund in Texas, including the abolition of the Pan American Games trust fund, Olympic Games trust fund, and motor sports racing trust fund. It amends various sections of the Government Code to redefine terms related to event funding and eligibility, such as "endorsing county," "endorsing municipality," and "event." The bill also introduces new provisions regarding the submission of requests for funding, requiring municipalities or counties to submit requests at least 90 days before an event begins. Additionally, it establishes different funding percentages based on the population of the county or municipality hosting the event.

Key amendments include the removal of references to the now-abolished trust funds and the introduction of new eligibility criteria for events seeking funding. For instance, events held in counties or municipalities with populations under 500,000 may not need to consider sites outside the state if expected attendance meets a certain threshold. The bill also mandates that local organizing committees comply with ethical guidelines and submit regular financial reports. Overall, the legislation aims to streamline the funding process for events while eliminating outdated trust funds. The bill is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 475.0001, Government Code 475.0051, Government Code 475.0054, Government Code 475.0103, Government Code 480.0051, Government Code 480.00515, Government Code 480.0052, Government Code 480.0103, Government Code 480.0105, Government Code 480.0155, Government Code 480.0207, Government Code 480.0251, Tax Code 26.041 (Tax Code 26, Government Code 480, Government Code 475)