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AustinF1

Tailor-made bill in Texas Senate would allow COTA to claw back lost subsidy $$$

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So what do you do if you're COTA/Epstein and you screwed the pooch on your application for $25M of free taxpayer subsidy money?

Why of course you just flaunt the law, cry "Unfair!" when it's enforced, and then get a friendly legislator from way out in West Texas to introduce tailor-made stealth legislation, changing the law ... retroactively ... so it's like you never effed up in the first place.
 
It seems COTA has pushed legislation that would retroactively allow them to collect the ~$25M they lost when they botched their 2018 F1 MERP application. HB 4008 would change the law, effective RETROACTIVELY, to cover COTA's ass on their own failure to comply with the law.
 

By: Frullo, Moody, Cyrier, Krause, Rodriguez H.B. No. 4008

 
Substitute the following for H.B. No. 4008:
 
By: Cyrier C.S.H.B. No. 4008
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
 
relating to plans required to be submitted to be eligible to receive
funding through the Major Events Reimbursement Program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 5A, Chapter 1507 (S.B. 456), Acts of the
76th Legislature, Regular Session, 1999 (Article 5190.14, Vernon's
Texas Civil Statutes), is amended by amending Subsection (a-1) and
adding Subsection (a-5) to read as follows:
(a-1) An event not listed in Subsection (a)(4) of this
section is ineligible for funding under this section. A listed
event may receive funding through the Major Events Reimbursement
Program under this section only if:
(1) a site selection organization selects a site
located in this state for the event to be held one time or, for an
event scheduled to be held each year for a period of years under an
event contract, or an event support contract, one time each year for
the period of years, after considering, through a highly
competitive selection process, one or more sites that are not
located in this state;
(2) a site selection organization selects a site in
this state as:
(A) the sole site for the event; or
(B) the sole site for the event in a region
composed of this state and one or more adjoining states;
(3) the event is held not more than one time in any
year;
(4) the amount of the incremental increase in tax
receipts determined by the department under Subsection (b) of this
section equals or exceeds $1 million, provided that for an event
scheduled to be held each year for a period of years under an event
contract or event support contract, the incremental increase in tax
receipts shall be calculated as if the event did not occur in the
prior year; and
(5) not later than the 30th day before the first day of
the event, a site selection organization or the organization
hosting the event submits a plan to prevent the trafficking of
persons in connection with the event to the office of the attorney
general, the human trafficking prevention task force established
under Section 402.035, Government Code, and the chief of the Texas
Division of Emergency Management.
(a-5) If the department determines an event is ineligible to
receive funding through the Major Events Reimbursement Program due
solely to a failure to timely submit a plan as required by
Subsection (a-1)(5) of this section, the event may receive funding
through the program if:
(1) the plan required by that subdivision is submitted
to the required entities not later than seven days before the event
begins and is implemented during the event; and
(2) all other requirements for funding under this
section, including those imposed by Subsections (d-1) and (w) of
this section, are satisfied not later than the 60th day after the
last day of the fiscal year in which the event occurs, provided
submission of the plan required by Subsection (a-1)(5) of this
section was not previously required under this section for that
event.
SECTION 2. This Act applies to an event that occurs before,
on, or after the effective date of this Act.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect on the 90th day after the last day of the
legislative session.

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A "friendly legislator from way out in West Texas" now has a nice campaign fund I bet.  

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19 minutes ago, NickHolt said:

A "friendly legislator from way out in West Texas" now has a nice campaign fund I bet.  

Indeed. This is like a Legislative Time Machine, where you just pay a fee to go back in time and change laws to fit your massive miscues.

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 .. Friends in high  places . JUST WRITE A CHECK  .everything will be ok ..you and I are paying for it .

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Tavo had the plan, had the brains, had the kno-whow.   Unfortunately, he needed financial backing and, well, we all know the rest of the story. 

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