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Relating to the eligibility of certain events to receive funding through the Major Events Reimbursement Program.
The fiscal implications of the bill cannot be determined at this time. The fiscal impact would depend on the number and size of events covered under the bill.
HB 2402 would add eligibility to receive funding from the Major Events Reimbursement Program to the Nation Reined Cow Horse Association Championship Series and the World Wrestling Entertainment Event. These programs assist Texas communities with paying costs related to preparing for or conducting an event by depositing projected gains in various local and state taxes generated from the event in a dedicated event-specific trust fund to cover allowable expenses.
These sporting competitions existed before the state started subsidizing them, and will continue to do so. Not only do state subsidies benefit one group at the expense of taxpayers, they incentivize waste and more spending. On the principle of limited government, we oppose HB 2402.