Sec. 479.0055. ESTIMATE OF TAX REVENUE CREDITED TO TRUST FUND. (a) Not later than three months before the date of a motor sports racing event, the office shall provide an estimate of the total amount of tax revenue that would be transferred or deposited to the trust fund under this chapter in connection with that racing event if the racing event were held in this state at a site selected in accordance with an application by a local organizing committee, endorsing municipality, or endorsing county.
(b) The office shall provide the estimate on request to a local organizing committee, endorsing municipality, or endorsing county.
(c) A local organizing committee, endorsing municipality, or endorsing county may submit the office's estimate to a site selection organization.
Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.
Structure Texas Statutes
Subtitle E-1 - Event Reimbursement Programs
Chapter 479 - Motor Sports Racing Trust Fund
Subchapter B. State Actions Relating to Motor Sports Racing Events
Section 479.0051. Prerequisites for Office Action
Section 479.0052. Determination of Incremental Increase in Certain Tax Receipts
Section 479.0053. Time for Determination
Section 479.0054. Designation of Market Area
Section 479.0055. Estimate of Tax Revenue Credited to Trust Fund