Category: TX State Programs
The Event Trust Funds program is comprised of three separate funds—the Events Trust Fund, Major Events Reimbursement Program, and Motor Sports Racing Trust Fund—targeted at attracting various types of events to the State of Texas. The Funds can 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
Who Can Apply?
A municipality, county, or non-profit local organizing committee endorsed by a Texas municipality or county which has been selected to host a qualified event, if the event location in that Texas municipality or county was selected through a highly competitive process by an independent site selection committee which considered other out-of-state locations.
Type of Incentive
Event-specific trust funds created to help pay for qualified expenses associated with an event, to which both the state and applicant must contribute. The state’s contribution may not exceed the projected increase in state sales and use, auto rental, hotel and alcoholic beverage taxes generated as a result of the qualified event during the specified event period or “economic impact window” (window varies by type of trust fund). Applicants must contribute $1 in local tax gains for every $6.25 the state contributes to the fund. Events Trust Fund grant awards are disbursed on a reimbursement basis following a review by the Governor’s Office of submitted costs after the completion of the qualified event. One-hundred percent of allowable expenses may be funded, provided sufficient tax receipts are deposited in the trust fund. The program is funded through event-generated tax increase; there is no maximum or minimum amount of funds available.
Eligibility criteria vary for the three types of event trust funds. For information most relevant to the type of event for which you are considering applying, please view the Overview Document. (Link to resources section).
The application period is rolling, however some events have specific submission time requirements. Please review the Overview document for trust-fund specific windows.
Eligible applicants should review the Guidelines document before applying to the program. Applicants must submit a complete application packet during the application window to be considered for the program.