This bill establishes a Sports and Events Reimbursement Program in Minnesota, designed to provide financial support for hosting significant sporting events such as the Super Bowl and NCAA championships. It creates a dedicated account within the special revenue fund, where funds will be appropriated to the commissioner of revenue. Local organizing committees will apply for funding, demonstrating eligibility through documentation from a site selection organization. The bill also mandates that a portion of tax revenues generated from these events be deposited into the reimbursement program account, and it outlines the process for determining the incremental tax revenue increase attributable to each event, as well as the allowable expenses covered by the program.

In addition to the reimbursement program, the bill introduces changes to the allocation of revenues from various taxes, particularly affecting the highway user tax distribution fund and the general fund. Starting with sales taxes remitted after July 1, 2017, the commissioner is required to deposit specific revenues into the state treasury, with detailed percentage distributions to various funds. The bill also directs a share of revenues related to events to the sports and events reimbursement program account and specifies allocations for enhancing natural resources and supporting fire safety initiatives. These dedicated revenues are intended to supplement, not replace, traditional funding sources, with the effective date for these changes to be determined based on future revenue collections.

Statutes affected:
Introduction: 168E.09, 290.62, 295.75, 295.81