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MN HF1787
Bill
Status
4/19/2013
Primary Sponsor
Bob Barrett
Click for details
AI Summary
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Requires the Minnesota Vikings to pay revenues from naming rights, personal seat licenses, builder's licenses, and NFL loans into a state "private contribution fund" for stadium construction and operation.
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Establishes a separate "owner's contribution fund" requiring the Vikings owner to pay a minimum of $200,000,000 toward stadium construction, independent of other revenue contributions.
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Directs the Commissioner of Management and Budget to release funds from both accounts to the Minnesota Stadium Authority as needed for stadium construction and operation.
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Requires the Commissioner to publicly account for revenue sources and fund status for both the private contribution fund and owner's contribution fund.
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Makes the owner payment requirement retroactive to May 1, 2012, while the private revenue requirement takes effect the day after enactment.
Legislative Description
Private stadium revenues required to be paid into the state treasury, and stand-alone owner payment required.
Last Action
Authors added Dettmer and Drazkowski
4/20/2013