15GMAJOR EVENTS AND TOURISM15G.101Definitions.As used in this chapter, unless the context otherwise requires:1“Board” means the same as defined in section 15.102.2“Entity” means an Iowa nonprofit organization established to promote economic development and tourism in an area.3“Event” means a tourism-oriented athletic contest, convention, music festival, or art festival.4“Financial assistance” means assistance provided only from the funds, rights, and assets legally available to the authority and includes but is not limited to assistance in the form of grants.5“Fund” means the Iowa major events and tourism fund established in section 15G.104.6“Program” means the Iowa major events and tourism program established in section 15G.102.2025 Acts, ch 160, §915G.102Iowa major events and tourism program purpose.1The authority shall establish and administer the Iowa major events and tourism program to provide financial assistance to eligible entities that support events in this state, or support events involving a geographic region that includes this state, and the event generates large attendance, significant publicity, and has a measurable economic impact on this state.2The program shall be administered for the purpose of awarding financial assistance to an eligible entity for any of the following purposes:aTo pay for or reimburse the costs incurred by the entity to apply or bid for selection as the site for the event.bTo pay for or reimburse the costs incurred by the entity to plan or to conduct the event, including any fees charged by a site selection organization as a prerequisite to hosting the event, including but not limited to hosting fees, sanctioning fees, participation fees, operational fees, or bid fees.2025 Acts, ch 160, §1015G.103Program application, review, eligibility, and funding.1An application for financial assistance under the program shall be submitted to the authority. For each application that meets the eligibility criteria under subsection 2, the authority shall conduct a staff evaluation of the application and forward the application and staff evaluation to the board.2aThe authority shall establish eligibility criteria for the program by rule. The eligibility criteria must include all of the following:1The entity must currently be involved in the bidding and selection process for the event for which the entity submits an application.2The entity’s application under subsection 1 must include an economic analysis of the event that includes but is not limited to all of the following:aProjected hotel and motel room occupancies during the event.bProjected number of event attendees from this state, other states, and other countries.bNotwithstanding paragraph “a”, an entity shall be deemed eligible for the program if any of the following apply:1After a highly competitive bidding and selection process involving potential sites not located in this state, a location in Iowa has been selected for the entity’s event.2This state serves as the sole site for the entity’s event.3The sole site for the entity’s event is a geographical region that includes this state and one or more contiguous states.3When evaluating an application, the authority shall consider, at a minimum, all of the following:aThe potential impact of the event on the local, regional, and state economies.bThe event’s potential to attract visitors from this state, other states, and other countries.cThe amount of positive advertising or media coverage the event may generate.dThe quality, size, and scope of the event.eThe ratio of public-to-private investment required for the event.4a1Upon review of the staff evaluation, the board shall make the final funding decision on each application and may approve, deny, defer, or modify each application, in the board’s discretion, to fund as many events as possible with the moneys available. The board and the authority may negotiate with an eligible applicant regarding the details of the applicant’s proposed event and the amount and terms of any financial assistance. In making final funding decisions pursuant to this subsection, the board and the authority shall be exempt from chapter 17A.2An application and staff evaluation forwarded to the board under subsection 1 shall remain eligible for consideration by the board under subparagraph (1) for up to two years from the date of receipt of the application by the board.bIn order to be awarded financial assistance under the program, an applicant must demonstrate the ability to provide matching funds for the event that equal at least fifty percent of the award of financial assistance. 2025 Acts, ch 160, §1115G.104Iowa major events and tourism fund.1aThe authority shall establish an Iowa major events and tourism fund pursuant to section 15.106A, subsection 1, paragraph “o”, for purposes of providing financial assistance as described in this chapter. The fund may be administered as a revolving fund and shall consist of any moneys transferred to the fund and any moneys appropriated by the general assembly for purposes of this chapter.b1Notwithstanding section 8.33, moneys appropriated in this section that remain unencumbered or unobligated at the close of the fiscal year shall not revert but shall remain available for expenditure for the purposes designated until the close of the fiscal year following the succeeding fiscal year.2Moneys encumbered or obligated pursuant to financial assistance awarded under section 15G.103, subsection 4, shall be disbursed by the authority within five calendar years from the date of encumbrance or obligation, or the moneys shall revert to the state treasury and shall be credited to the funds from which the appropriations were made as provided in section 8.33.cNotwithstanding section 12C.7, subsection 2, interest or earnings on moneys deposited in the fund shall be credited to the fund.2aMoneys in the fund are appropriated to the authority for purposes of providing financial assistance under the program. The authority shall not use more than five percent of the moneys in the fund at the beginning of each fiscal year for purposes of administrative costs, technical assistance, and other program support.bAn entity that is awarded financial assistance pursuant to this chapter is not eligible to receive financial assistance under the sports tourism infrastructure program pursuant to chapter 15F, subchapter IV.2025 Acts, ch 160, §12