H.B. No. 4396 aims to amend the major events reimbursement program in Texas by updating the definitions of "event" and "site selection organization." The bill expands the list of eligible events to include new activities such as the American Performance Horseman, the American Rodeo, and the National Hockey League All-Star Game, among others. Additionally, it modifies the existing list by removing certain events, such as the World Wrestling Entertainment WrestleMania event and the X Games, while also renumbering the remaining events accordingly.

Furthermore, the bill introduces new site selection organizations, including Teton Ridge Live Productions and Teton Ridge The American, LLC, while removing the Ultimate Fighting Championship and the United States Golf Association from the list. The changes are intended to enhance the state's ability to attract and support major events, thereby promoting tourism and economic growth. The act is set to take effect on September 1, 2025.