S.F. No. 3399 Summary

• Establishes the Minnesota Stadium Authority as a public body to oversee construction and financing of a new National Football League stadium, with a 13-member board appointed by the governor from regional representatives.

• Abolishes the Metropolitan Sports Facilities Commission effective January 1, 2012, transferring all its assets and liabilities to the new Stadium Authority, including the Metrodome property.

• Requires the professional football team (Minnesota Vikings) to contribute one-third of stadium costs and deposit funds into an escrow account sufficient to pay at least the first ten years of debt service on bonds issued for stadium construction.

• Authorizes multiple revenue sources for stadium financing including sports memorabilia tax (6.875%), rental car surcharge (2.5%), lodging tax (1.5%), and annual lottery game proceeds (up to $5,500,000), along with municipal taxes and state tax exemptions for construction materials.

• Mandates a minimum 40-year lease agreement with specific performance and injunctive relief provisions to ensure the team plays home games at the stadium, preventing relocation or departure without court enforcement mechanisms.