§ 41-2308 — Special sporting events; promotion and marketing; report; appropriation; definitions

A. Beginning from and after June 30, 2021, the state treasurer shall pay from monies appropriated pursuant to this section $1,500,000 per fiscal year, in twelve equal monthly installments, to the office of tourism for the purposes described in this section. The office of tourism shall deposit the monies in a separate fund and shall use the monies to promote and market a special sporting event at a host facility. For the purposes of this section, the office of tourism shall contract with a promotion and marketing vendor that has the requisite capabilities and expertise to promote and market a special sporting event, but the office of tourism is not limited to a vendor on statewide contract for marketing services. If the office of tourism develops a competitive solicitation for a promotion and marketing vendor, the office of tourism, in consultation with the host facility, shall develop the qualifications, specifications and evaluation factors for the competitive solicitation in accordance with chapter 23 of this title and rules adopted pursuant to chapter 23 of this title. The procurement evaluation committee that consists of a representative of the state procurement office, the office of tourism and the host facility shall evaluate and recommend a vendor. On or before October 1 of each year, the office of tourism shall report to the joint legislative budget committee the amounts and purposes of all expenditures made pursuant to this subsection in the previous fiscal year.

B. The treasurer may make the payments prescribed in subsection A of this section if the special sporting event project cost incurred from and after December 31, 2016 is at least $100,000,000.

C. The host facility shall report to the joint legislative budget committee and the governor's office of strategic planning and budgeting that it has incurred the special sporting event project cost prescribed in subsection B of this section on or before December 31, 2020. The joint legislative budget committee shall certify the expenditures reported by the host facility.

D. If the requirements of subsections B and C of this section are met, the sum of $1,500,000 is appropriated annually from the state general fund to the state treasurer for the purposes of this section beginning in fiscal year 2021-2022 and ending in fiscal year 2050-2051.

E. For the purposes of this section:

1. "Host facility" means a complex facility in this state that has fixed seating, that requires a ticket for admission for viewing a sporting event and that was chosen to host a special sporting event by a site selection organization through a competitive selection process that included consideration of at least one facility that is not located in this state.

2. "Special sporting event" means a sporting event that is sanctioned by a nationally recognized premier national auto racing series governing body that establishes an annual schedule of sporting events and grants rights to conduct the events, that has established and administers rules and regulations governing all participants involved in the events and all persons conducting the events and that requires certain liability assurances, including insurance.

3. "Special sporting event project" means:

(a) The acquisition of land subject to property tax in this state to construct a host facility for a special sporting event.

(b) The construction, reconstruction, improvement or renovation of improvements to land subject to property tax in this state of a host facility for a special sporting event.

4. "Special sporting event project cost" means the monies spent from and after December 31, 2016 by the owner of the host facility on the special sporting event project.