Senate wants new limits on Major Events Fund

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by Associated Press

kvue.com

Posted on April 25, 2013 at 2:47 PM

AUSTIN -- The Texas Senate has voted to place new restrictions on spending from the state's Major Events Trust Fund, which is typically used to help stage large sports events such as car races or Super Bowls.

The Senate bill would bar the state comptroller from pledging money from the fund before all program requirements are met. The bill also prevents money from being spent before the event is held.

It also limits how much could be spent on structural improvements to stadiums, such as a new roof or scoreboard.

Lawmakers have been scrutinizing the fund since Comptroller Susan Combs pledged to spend $250 million to help stage the Formula One car race in Austin, which began in 2012.

The bill by Sen. Bob Deuell, R-Greenville, now goes to the House.

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