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FL S0922
Bill
AI Summary
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Allows applicants previously certified for professional sports facilities to receive an additional certification if improvements cost at least $80 million, the franchise has existed for 15+ years, the facility agreement has 15+ years remaining, and annual tax revenues equal or exceed $4 million.
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Defines "facility standards" as stadium equipment standards certified in writing by the league's commissioner.
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Increases monthly sales tax distribution from $166,667 to $166,667 monthly for each applicant receiving additional certification under the new program.
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Requires the Department of Economic Opportunity to administer the certification program and notify the Department of Revenue of facilities receiving additional certification.
Legislative Description
Professional Sports Franchise Facilities
Last Action
Died in Appropriations Subcommittee on Finance and Tax
5/3/2013