SB 861 Summary

• Adds a new sales tax exemption (paragraph 75) for admission tickets and hospitality packages to national championship sports events hosted by a limited liability partnership in conjunction with a national sports association exempt under IRC Section 501(c)(3).

• Amends the Quality Events Incentive Act by changing the maximum designated quality event area from 13 miles to 20 miles from the primary event property.

• Modifies the revenue capture period definition from 2 days before/after an event to 7 days before/after the event for calculating incremental sales tax revenue.

• Makes clarifying technical amendments to Section 4303 of the Quality Events Incentive Act, including correcting references from "Title 68" and "this act" to "this title" for consistency.

• Effective date: November 1, 2013.