Text of section effective on April 01, 2021
Sec. 476.0152. DISBURSEMENT FROM TRUST FUND. (a) The office may make a disbursement from the trust fund only if the office certifies that the disbursement is for a purpose for which this state and the endorsing municipality are jointly obligated under a games support contract or another agreement providing assurances from the office or the municipality to a site selection organization.
(b) On a certification described by Subsection (a), the office shall satisfy the obligation:
(1) first, from municipal revenue deposited to the trust fund and any interest earned on that municipal revenue; and
(2) if the municipal revenue is insufficient to satisfy the entire deficit, from state revenue transferred to the trust fund and any interest earned on that state revenue in an amount sufficient to satisfy the portion of the deficit not covered by the municipal revenue.
Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.
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