The committee met to take up and consider bills. This report focuses only on bills related to the Major Events Trust Fund (METF).
CSSB 293 – Nelson, Relating to a clarification of the law governing eligibility of National Association for Stock Car Auto Racing events for funding under the Major Events trust fund.
- Clarifies that NASCAR races at Texas Motor Speedway are eligible to participate in the METF
- Gives NASCAR the same opportunity as other races
- Last session legislation was signed into law making NASCAR eligible but there was a drafting error in the bill
- Other events are being proposed to be added which is fine with the author
- Chairman Troy Fraser noted the bill was originally just NASCAR; the substitute adds two other events
- Sen. Judith Zaffirini noted the bill simply clarifies legislative intent
- Sen. Bob Hall asked who receives the money
- The cities and counties in the communities; not NASCAR
- Nelson noted she feels strongly that if METF is going to be used, entities that were omitted accidentally should be included
- Fraser noted it is cleaning up current law
Public Testimony
Rob Ramage, Texas Motor Speedway
- This bill is incredibly important as NASCAR attracts thousands and thousands of fans
Richard Victoria, Audits in the Public Interest
- Not surprised that other events are knocking on the door for this money
- The Formula 1 incentive in METF is limited to the incremental increase in taxes from the events
- Estimates by the Comptroller have failed to actually evaluate the incremental incentive
Committee substitute reported favorably to the full Senate; one nay (Hall).
SB 541 – Taylor, Van, Relating to the eligibility of presidential general election debates for distributions from a Major Events trust fund.
- Allows presidential general election debates to the list of events currently eligible for use in the METF
- Presidential debates are one of the most nationally viewed events a community can have
- Sen. Craig Estes noted for NASCAR there are a lot of people coming to the event; how is this a big economic generator
- There is tremendous publicity value; mention in news articles, free media coverage; this is the third largest televised viewership event in the world
- Fraser noted there have been records kept on the event; does show positive economic impact
- Zaffirini noted UT has discussed this issue for primary debates; a huge amount of media related individuals come and spend money and studios need to be built, etc.
Bill left pending.