This bill amends the Sports Arena Facility Financing Assistance Act by updating provisions related to state assistance limitations, public hearings, and application approvals. Key changes include the introduction of a requirement for the board to determine application approvals within thirty days after public hearings, and the stipulation that state assistance can only be used for specific purposes related to eligible sports arena facilities. Notably, the bill increases the maximum duration for state assistance funding for sports complexes located in cities of the second class or villages from five years to ten years. Additionally, it allows for up to one hundred percent funding for large public stadium projects approved after July 19, 2024.

The bill also modifies the public hearing process, requiring the board to hold a hearing within thirty days of completing its review of an application. It clarifies that the board's approval of applications is contingent upon the project being deemed eligible and in the best interest of the state. Furthermore, the bill harmonizes various provisions and repeals original sections of the law that are being amended. The act is declared an emergency measure, taking effect immediately upon passage and approval.

Statutes affected:
Introduced: 13-3103, 13-3105, 13-3106, 13-3108