A bill for an act relating to economic development by establishing the Iowa major events and tourism program and fund, modifying the sports tourism and marketing infrastructure program, and making appropriations.

SF 640 establishes the Iowa Major Events and Tourism Program to provide financial assistance to Iowa nonprofit organizations hosting tourism events like festivals, conventions, and sports competitions that generate significant economic impact. Eligible organizations must submit economic analyses showing projected hotel occupancy, attendee numbers (including out-of-state visitors), and revenue, and must cover at least 50% of event costs themselves. The program is funded with $15 million from sports wagering receipts for the 2025-2026 fiscal year, and it repeals related provisions of the existing sports tourism infrastructure program to prevent overlapping funding.