Senator wants broader oversight of major events fund
Austin Sen. Kirk Watson said he wants to infuse some “healthy skepticism” into oversight of a state incentive fund that is used to recruit major events such as Super Bowls, All-Star games and Formula One racing to Texas.
To do so, Watson has filed legislation that would force Comptroller Susan Combs to share authority over the Major Events Trust Fund with at least two others: the state auditor and a representative of the host city or county.
Senate Bill 765 also would cap at 5 percent the cost of infrastructure improvements that taxpayers would pay for, if the owner of the venue gets a long-term benefit from the improvements. That provision was prompted by reports that more than $8 million in taxpayer money was used for a new scoreboard to attract the NBA All-Star game to Houston this year.
A similar video scoreboard also was purchased when the NBA All-Star game came to Dallas three years ago. In both cases, the scoreboard remains in the venue after the event.
More at http://www.statesman.com/news/business/senator-wants-broader-oversight-of-major-events-fu/nWZMT/ .
[font color=green]One of my friends from college is the Senior VP of Events and Attractions for the NBA. I imagine that he will be disappointed to learn that corporate welfare is being reigned in by Senator Watson.[/font]