SB 1465 - 2024 Olympic Games and Paralympic Games Act

• Authorizes the Governor to execute games support contracts accepting financial liability up to $250 million to provide state security for the 2024 Olympic and Paralympic Games bid by Los Angeles.

• Establishes an Olympic Games Trust Fund to be funded at the Legislature's discretion, with funds used solely to fulfill state security obligations under games support contracts.

• Makes the state the "payer of last resort," requiring the OCOG, endorsing municipality ($250 million minimum), other entities, and insurance coverage to be exhausted before state security funds are accessed.

• Limits state liability to $250 million aggregate across all games support contracts and financial obligations, with any excess liability remaining the responsibility of non-state parties.

• Requires the OCOG to list the state as additional insured on all insurance policies and prohibits conduct by the OCOG that reflects unfavorably on the state, municipality, or games or violates applicable laws and Olympic Committee rules.