1.1                          A bill for an act
  1.2             relating to public administration; authorizing various 
  1.3             governmental entities to use the power of eminent 
  1.4             domain to acquire the Minnesota Twins; appropriating 
  1.5             money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [PURPOSE.] 
  1.8      The legislature determines that: 
  1.9      (1) the Minnesota Twins are an important asset to the state 
  1.10  of Minnesota, both in terms of the economy and the quality of 
  1.11  life; 
  1.12     (2) ensuring that the Minnesota Twins franchise remains in 
  1.13  Minnesota is an important public purpose; 
  1.14     (3) providing community ownership of the Minnesota Twins 
  1.15  ensures that this important asset will remain in the state; 
  1.16     (4) providing community ownership of the Minnesota Twins 
  1.17  develops trust among fans, taxpayers, and the team, so that the 
  1.18  team enjoys popular support; and 
  1.19     (5) providing community ownership of the Minnesota Twins 
  1.20  ensures that the financial benefits of any new stadium will 
  1.21  accrue to those who pay its costs. 
  1.22     Sec. 2.  [EMINENT DOMAIN.] 
  1.23     In furtherance of the public purpose in section 1, the 
  1.24  commissioner of finance on behalf of the state, the metropolitan 
  1.25  sports facilities commission, Hennepin county, or the city of 
  2.1   Minneapolis may use the power of eminent domain to acquire the 
  2.2   Minnesota Twins. 
  2.3      Sec. 3.  [APPROPRIATION; PURCHASE.] 
  2.4      The governor may use funds available in the budget reserve 
  2.5   and cash flow account in the general fund to enable any entity 
  2.6   specified in section 2 to acquire the Minnesota Twins by eminent 
  2.7   domain.  Before making such an acquisition, the governor must 
  2.8   consult with the legislative advisory commission as provided by 
  2.9   Minnesota Statutes, section 3.30.  The money needed to make this 
  2.10  acquisition is appropriated from the general fund to the 
  2.11  governor. 
  2.12     Sec. 4.  [PUBLIC OFFERING.] 
  2.13     After acquisition of the team under section 3, the entity 
  2.14  acquiring the team must ensure that the bylaws of the 
  2.15  corporation are changed so that the team may not move from 
  2.16  Minnesota without approval of at least three-fourths of the 
  2.17  shareholders.  The entity shall then arrange for a public 
  2.18  offering of stock of the Minnesota Twins.  The entity may retain 
  2.19  an ownership interest in the team, and may be represented on the 
  2.20  board of directors.  Proceeds from the sale of stock must be 
  2.21  deposited in the state general fund, and may be used for 
  2.22  construction of a new stadium if authorized by law. 
  2.23     Sec. 5.  [OPERATION.] 
  2.24     The public entity acquiring the team must contract with a 
  2.25  private entity to operate the team.  In entering into the 
  2.26  contract, the public entity must ensure that the private entity 
  2.27  will be able to conduct the operations of the team in the manner 
  2.28  that a private business is operated, and that the daily 
  2.29  operations are independent from government interference.  The 
  2.30  public entity shall attempt to ensure that the private entity 
  2.31  operating the team has a significant minority ownership interest 
  2.32  in the team, so as to provide the company with financial 
  2.33  incentives for efficient and effective operations. 
  2.34     Sec. 6.  [EFFECTIVE DATE.] 
  2.35     Sections 1 to 5 are effective the day following final 
  2.36  enactment.