HF 1787

as introduced - 88th Legislature (2013 - 2014) Posted on 04/19/2013 10:06am

A bill for an act
relating to stadiums; requiring private stadium revenues to be paid into the state
treasury; requiring stand-alone owner payment; amending Minnesota Statutes
2012, section 473J.15, by adding subdivisions.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2012, section 473J.15, is amended by adding a
subdivision to read:

new text begin Subd. 17. new text end

new text begin Private revenues; state remittance. new text end

new text begin Revenues contributed by the
Minnesota Vikings football team for the team commitment for stadium construction or
operation from naming rights, personal seat licenses, builder's licenses, or any NFL loan
or builder's program must be paid by the team to the state of Minnesota, and deposited in a
fund to be known as the private contribution fund. The commissioner of management and
budget shall release money from this fund to the Minnesota Stadium Authority as needed,
to pay for construction and operation of the football stadium, per statutorily required
agreements. The commissioner shall publicly account for the source of revenues and
status of the fund in a manner determined by the commissioner.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2.

Minnesota Statutes 2012, section 473J.15, is amended by adding a subdivision
to read:

new text begin Subd. 18. new text end

new text begin Owner payment. new text end

new text begin The owner of the Minnesota Vikings football team shall
pay a minimum contribution of $200,000,000 to the construction of the Minnesota Vikings
stadium, separate and in addition to the revenues deposited in the private contribution
fund. This amount must be paid by the team to the state of Minnesota and shall be
deposited in a fund to be known as the owner's contribution fund. The commissioner of
management and budget shall release money from this fund to the Minnesota Stadium
Authority as needed to pay for construction and operation of the football stadium, per
statutorily required agreements. The commissioner shall publicly account for the source
of revenues and status of the fund in a manner determined by the commissioner.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective retroactive to May 1, 2012.
new text end