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SF 3062

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

  1.1                          A bill for an act 
  1.2             relating to sports facilities; assisting the Minnesota 
  1.3             Twins and the Minnesota Vikings in developing private 
  1.4             financing plans for stadiums using revenue increment 
  1.5             financing; expanding duties of the Metropolitan Sports 
  1.6             Facilities Commission; amending Minnesota Statutes 
  1.7             2002, section 473.556, by adding a subdivision. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  Minnesota Statutes 2002, section 473.556, is 
  1.10  amended by adding a subdivision to read: 
  1.11     Subd. 18.  [BASEBALL AND FOOTBALL STADIUMS.] (a) The 
  1.12  commission shall provide assistance to the owners of the 
  1.13  Minnesota Twins and the Minnesota Vikings to develop private 
  1.14  financing packages for construction of new baseball and football 
  1.15  stadiums.  The financing must be based on stadium revenue 
  1.16  increments, using some of the increases in revenues the team 
  1.17  will receive from playing in a new stadium, including, but not 
  1.18  limited to, revenues from media access fees, naming rights, 
  1.19  sales of personal seat licenses and club seats, private suite 
  1.20  leases, concessions, signage, parking, and ticket sales. 
  1.21     (b) The commission shall assist the owners of the Minnesota 
  1.22  Twins and the Minnesota Vikings to secure appropriate sites for 
  1.23  each team to purchase or lease for its stadium. 
  1.24     Sec. 2.  [EFFECTIVE DATE.] 
  1.25     Section 1 is effective the day following final enactment.