Bill Summary

• Authorizes the state to issue up to $300,000,000 in revenue bonds to finance construction of a new privately owned Minnesota Vikings stadium, with debt service paid from user fees rather than general state funds.

• Imposes a 10 percent user fee on stadium-related revenues including tickets, concessions, personal seat licenses, sponsorships, parking, and television/media revenue to repay the bonds.

• Exempts construction materials and equipment used in stadium and public infrastructure construction from state sales tax for one year after the first game (five years for public infrastructure).

• Phases out the state general levy on commercial-industrial property over nine years (2014-2022), reducing the tax base from $717,300,000 in 2014 to $79,700,000 in 2022, providing business tax relief.

• Requires the Vikings to play all home games in the Minnesota stadium for 30 years or until bonds are repaid (whichever is longer) and grants courts authority to enforce this obligation through specific performance and injunctive relief.