(a) A local organizing committee and the committee’s governing body are subject to Chapters 551 and 552. For purposes of those chapters, the governing body of a local organizing committee is considered a governmental body as defined by those chapters. For purposes of Chapter 552, the records and information of a local organizing committee are considered public records and public information.
(b) A final bid that a local organizing committee submits to a site selection organization, or a draft of that bid, is excepted from required public disclosure under Chapter 552 until the organization selects the site for the games.

(c) Chapter 551 does not apply to a meeting of a subcommittee of a local organizing committee’s governing body if:
(1) the subcommittee consists of not more than five members;
(2) the meeting is not held in a public building;
(3) the subcommittee makes a recording of the meeting proceedings in compliance with Section 551.103, and the committee preserves the recording until the second anniversary of the date the recording is made;
(4) the subcommittee does not discuss or decide any financial matters during the meeting; and
(5) any decision the subcommittee makes will not take effect without the governing body reviewing and officially adopting the decision at a meeting held in compliance with Chapter 551.
(d) A recording made under Subsection (c) is subject to required public disclosure in the manner prescribed by Chapter 552 for a public record.