HF 1788

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

A bill for an act
relating to stadiums; requiring naming rights, seat licenses, and NFL loan
revenue to be used for the state share of stadium costs; amending Minnesota
Statutes 2012, section 473J.15, by adding a subdivision.

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 Stadium revenue sources. new text end

new text begin Notwithstanding this chapter or any other law
or ordinance to the contrary, the Minnesota Stadium Authority shall retain all revenues
from naming rights, personal seat licenses, builder's licenses, and any revenues from a
loan or grant from the National Football League, and shall deposit these funds in the state
treasury. The commissioner of management and budget shall use these funds to offset
any general fund contributions to the payment of appropriation bonds for construction or
operation of the stadium constructed for the football team.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment. In
the event of a refusal to comply with this act on the part of the football team, the Minnesota
Stadium Authority shall cease and cause to be ceased all work on the construction of
a new football stadium.
new text end

Sec. 2. new text begin REVISOR'S INSTRUCTION.
new text end

new text begin The revisor shall prepare legislation revising the terms and conditions of Laws 2012,
chapter 299, to conform with the provisions of this act, and shall note the changes in any
subsequent edition of Minnesota Statutes.
new text end