IA SF640

Establishes the Iowa Major Events and Tourism Program to provide grants and financial assistance to Iowa nonprofit organizations for hosting tourism-oriented athletic contests, conventions, music festivals, and art festivals that generate large attendance, significant publicity, and measurable economic impact

Creates the Iowa Major Events and Tourism Fund with a $15 million appropriation from the Sports Wagering Receipts Fund for FY 2025-2026; unencumbered funds do not revert for two fiscal years, and awarded funds must be disbursed within five calendar years

Requires applicants to provide matching funds equal to at least 50% of the financial assistance awarded and submit economic analyses including projected hotel occupancies and attendee numbers from in-state, out-of-state, and international visitors

Repeals the Sports Tourism Marketing Program and Fund, transferring remaining moneys to the new Iowa Major Events and Tourism Fund; retains the separate Sports Tourism Infrastructure Program

Prohibits entities receiving assistance under the new program from also receiving funding from the Sports Tourism Infrastructure Program for the same event