HB 2520 Summary

• Establishes a stadium development district under the jurisdiction of the stadium authority comprised of all land under the stadium authority's control, with authority to facilitate development of state-owned property in accordance with county transit-oriented development plans.

• Creates a stadium development special fund to receive revenues from district operations, revenue bond proceeds, and legislative appropriations for development and operation expenses.

• Expands stadium authority powers to include acquiring/disposing of property, developing infrastructure, entering cooperative agreements, and issuing bonds; allows authority to adopt district development rules that supersede inconsistent county ordinances upon final adoption of a district development plan.

• Establishes district-wide improvement program allowing the authority to assess real property benefitting from public facilities and issue bonds secured by those assessments, with liens having priority over all liens except property taxes.

• Appropriates $20,000,000 in general revenues for fiscal year 2019-2020 and authorizes up to $180,000,000 in revenue bonds and $150,000,000 in general obligation bonds for stadium development district implementation.