The bill, H.B. No. 5088, amends various sections of the Government Code related to the major events reimbursement program and the events trust fund. Key changes include the introduction of the terms "local organizing committee" and "endorsing municipality" or "endorsing county" in place of the previously used term "office." The bill mandates that these entities complete a study on the economic impact of events and post the results on their respective websites. Additionally, it specifies that endorsing municipalities or counties must remit local money equivalent to municipal and county tax revenue to the events trust fund within 90 days after an event concludes.

Further amendments include the repeal of Section 480.0152 and adjustments to the transfer of state tax revenue to the events trust fund, which will now be based on the remitted local money. The bill also allows endorsing municipalities or counties to guarantee their obligations under event support contracts by pledging surcharges from user fees associated with the event. The changes aim to enhance transparency and accountability in the management of funds related to major events in Texas. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 478.0107 (Government Code 478)
House Committee Report: Government Code 478.0107, Government Code 480.0153, Government Code 480.0155, Government Code 480.0253, Government Code 480.0152 (Government Code 480, Government Code 478)
Engrossed: Government Code 478.0107, Government Code 480.0153, Government Code 480.0155, Government Code 480.0253, Government Code 480.0152 (Government Code 480, Government Code 478)