MN SF2815

Modifies Minneapolis local sales and use tax provisions to allocate tax revenues for stadium financing, including deposits to the general fund for bond debt service support, capital improvements, and operating expenses through 2046.

Allows early prepayment and defeasance of stadium bonds issued under section 16A.965, with provisions to eliminate tax retention requirements once bonds are prepaid.

Increases NFL team and state annual contributions to the stadium capital reserve fund from $1,500,000 to $5,000,000 each year beginning in 2023 through January 1, 2047.

Reduces the annual adjustment factor cap for Minneapolis taxes from 5 percent to 2.75 percent, effective for adjustments beginning in 2023.

Establishes a general reserve account funded by gambling tax revenues and appropriates amounts in prioritized order for bond prepayment, capital reserve fund transfers, repayment of state advances, and other stadium-related uses.