This bill extends provisions related to the apportionment and distribution of state tax revenue as they pertain to National Hockey League franchises until June 30, 2049.
The present law provisions governing certain special allocations of sales tax revenue provide:
(1) That if there exists in a municipality a sports authority and if that sports authority has secured a major league professional baseball (American or National League), football (National Football League or Canadian Football League, or its successors or assigns), basketball (National Basketball Association), soccer (Major League Soccer), or major or minor league professional hockey (National Hockey League, or Central Hockey League or East Coast Hockey League) franchise for that municipality, and only if the municipality or any board or instrumentality of the municipality reimburses the state for any costs to reallocate apportionments of the tax revenue, then an amount is apportioned and distributed to the municipality equal to the amount of state tax revenue derived from the sale of admissions to events of the major or minor league professional sports franchise and also the sale of food and drink sold on the premises of the sports facility in conjunction with those games, parking charges, and related services, as well as the sale by the major or minor league professional sports franchise within the county in which the games take place of authorized franchise goods and products associated with the franchise's operations as a professional sports franchise. The amount so distributed is for the exclusive use of the sports authority, or comparable municipal agency designated under the Sports Authorities Act;
(2) If an indoor sports facility owned by a sports authority in which a professional sports franchise is a tenant, exists in a county with a metropolitan form of government, then an amount is apportioned and distributed to the municipality equal to the amount of state tax revenue derived from the sale of admissions to all other events occurring at the indoor sports facility and from all other sales of food and drink and other authorized goods or products sold on the premises of the sports facility, parking charges, and related services. The amounts so distributed are for the exclusive use of the sports authority, or comparable municipal agency and such amounts must be used exclusively for the payment of, or the reimbursement of expenses associated with securing current, expanded, or new events for indoor sports facilities owned by a municipal agency formally designated by the municipality under the Sports Authorities Act; and
(3) In lieu of distribution to any municipality, amounts derived from a National Football League franchise are earmarked and allocated specifically and exclusively to the general fund. In all cases, any distribution to a municipality as described above are limited to a period of 30 years, concurrent with the time limitation established by present law regarding term of bonds issued relative to the construction of a sports facility (30 years from the date the first game is played by the professional sports franchise in a municipality). Following the expiration of this thirty-year period, all amounts that would have otherwise been distributed to the municipality or retained in lieu of distribution are allocated as otherwise provided in law.
This bill adds that the apportionment and distribution of state tax revenue described above in (1), as it pertains to National Hockey League franchises and the apportionment and distribution of state tax revenue provided in item (2) above, will continue until June 30, 2049.

Statutes affected:
Current Version: 67-6-103(d)(1)(B), 67-6-103