The money from the state comes from tax revenue generated by the event. If it doesn't generate the offset, funding would be eliminated or decreased. Under TX the fund could only be used for this purpose. IOW, they couldn't decide to spend it on teachers, etc. No one blinked and eye when the fund gave Jerry Jones
$35more than $25 mil for the Super Bowl or any of the other many events that received money from the fund.. It's an idea that we've been doing in Vegas long before Texas and other areas have done it. We do it a bit differently in that it comes from room tax revenue.
I think the idea that the track wouldn't be built if there was no F1 date is a bit of a stretch. In fact I go as far to say that it's more of a break even or loss leader, much like most of the other Grands Prix. Without having to homologate to FIA circuit Grade 1 and provide FOM mandated media, hospitality and garage facilities the cost will be reduced and they are likely, probably guaranteed to make more money with Moto GP and the other forms of racing. Miller has done alright without a GP, as well Barber and many, in fact all road circuits in the US have done well without a GP. F1 needs the US market for the sponsors far more than the US needs to hast a GP.
Dave
Without commenting on whether I think F1 is coming to TX or not, Dave is accurate in his assessment of track costs regarding FIA and more importantly FOM requirements which are very stringent. Any track that chooses to meet F1 standards will dramatically increase thier costs of construction and operation. Dave also has the Tax issue correct.
Cnj