Texas Occupations Code 2021.008 – Sunset Provision
(a) The commission is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, and except as provided by Subsections (b) and (c), the commission is abolished and this subtitle expires September 1, 2029.
(a-1) As part of the review under Subsection (a), the Sunset Advisory Commission shall review:
(1) the impact on the commission of authorizing the executive director to apply for and receive grants to implement or enforce this subtitle;
(2) the effect of increasing the amount of unappropriated money remaining in the Texas Racing Commission fund at the close of each state fiscal biennium that is transferred to the general revenue fund;
(3) the effect of complying with Chapter 53 in the administration of the commission’s licensing program;
(4) the effect of requiring reimbursement of general revenue appropriated to the commission for the administration and enforcement of this subtitle that exceeds the cumulative amount deposited in the Texas Racing Commission fund; and
(5) the commission’s authority to issue a temporary license to an applicant whose application appears to comply with the requirements of law.
Terms Used In Texas Occupations Code 2021.008
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(b) If, at the time the commission would be abolished under Subsection (a), a racetrack association has outstanding long-term liabilities:
(1) the racetrack association may continue to operate for a period not to exceed one year after those liabilities are satisfied; and
(2) the commission and this subtitle are continued in effect for the purpose of regulating that racetrack association under this subtitle.
(c) If the commission and this subtitle are continued in effect under Subsection (b), the commission is abolished and this subtitle expires on the first day of the state fiscal year following the state fiscal year in which the commission certifies to the secretary of state that no racetrack associations are operating under the terms of Subsection (b).
(d) A racetrack association that continues to operate under Subsection (b) may not incur any new liability without commission approval. At the beginning of that period, the commission shall:
(1) review the outstanding liabilities of the racetrack association; and
(2) set a specific date by which the racetrack association must retire its outstanding liabilities.
(e) Notwithstanding any contrary contract provision, a racetrack association may prepay any debt incurred by the racetrack association in conducting racing under this subtitle.