§ 10–1202.08b. Sports and Entertainment Fund.

(a) There is established as a nonlapsing fund the Sports and Entertainment Fund, to be maintained by the Authority.

(b)(1) There shall be deposited into the Sports and Entertainment Fund all monies remaining in the Sports and Entertainment Commission Fund, all revenues of the Authority derived from the District sports and entertainment facilities (except revenues derived from the Walter D. Washington Convention Center), all revenues of the Authority derived from other sports- and entertainment-related activities of the Authority, all interest earned on money in the Fund, and all other monies deposited pursuant to the laws of the District.

(2) All funds deposited into the Fund, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (c) of this section without regard to fiscal year limitation, subject to the authorization by Congress.

(c) Monies in the Sports and Entertainment Fund shall be used to pay for the operating expenses of the Authority, including expenses incurred through contracts, and for the hosting of sports events, sports teams, recreational events, and entertainment events in the District.