SB 306 (2013) – Economic Development (Authorizing Professional Sports Teams to Bid for State Funds)

SB 306 (2013) – Economic Development (Authorizing Professional Sports Teams to Bid for State Funds)
Bill passed Senate April 29, 2013 (35 Yea; 4 Nay)

Excerpts:

“…TAXABLE PRIVILEGES; EXEMPTIONS; LEVY; RATE.— In addition to any other tax that is imposed under this section,a county that has imposed the taxunder paragraph (l) may impose an additional tax that is no greater than 1 percent on the exercise of the privilege described in paragraph (a) by a majority plus one vote of the membership of the board of county commissioners, or as otherwise provided in this paragraph, in order to

Pay the debt service on bonds issued to finance the renovation of a professional sports franchise facility that is publicly owned, or located on land that is publicly owned, and that is publicly operated or operated by the owner of a professional sports franchise or other lessee who has sufficient expertise or financial capability to operate the facility, and to pay the planning and design costs incurred before the issuance of such bonds for the renovated professional sports facility. The cost to renovate the facility must be more than $300 million, including permitting, architectural, and engineering fees, and at least a majority of the total construction cost, exclusive of in-kind contributions, must be paid for by the ownership group of the professional sports franchise or other private sources…”

Last Event: Died in Messages; companion bill(s) passed, see CS/CS/HB 7007 (Ch. 2013-39), CS/SB 406 (Ch. 2013-42) on Friday, May 03, 2013 7:16 PM

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