This bill amends the Sports Arena Facility Financing Assistance Act by updating the eligibility criteria for applicants seeking state assistance for sports arena facilities. It introduces a new requirement that each coapplicant must adopt a resolution authorizing the pursuit of financing or bonds for the facility. Additionally, the bill expands the types of eligible facilities to include privately owned sports complexes and concert venues, while also specifying the conditions under which state assistance can be used for these facilities. Notably, it establishes that state assistance can be used for promoting public events and outlines the limitations on funding duration for various types of events.

Furthermore, the bill modifies the approval process for applications submitted under certain conditions, designating them as temporary approvals that can become permanent based on subsequent actions, such as voter approval of bond issues or the issuance of building permits within specified timeframes. The amendments aim to harmonize existing provisions and clarify the use of state assistance, ensuring that it aligns with the best interests of the state while supporting the development of sports and cultural facilities. The original sections of the law being amended are repealed as part of this legislative update.

Statutes affected:
Introduced: 13-3103, 13-3106