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2002 SESSION
SB 580 Hampton Roads Sports Facility Authority.
Introduced by: Nick Rerras | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Hampton Roads Sports Facility Authority. Continues numerous provisions within the act creating the Authority by changing the sunset date from January 1, 2002, to January 1, 2005, but provides that bonds shall be issued only upon approval by the National Hockey League or National Basketball Association of a team to be located in the City of Norfolk. The purpose of the Authority is to facilitate the attraction and operation of a National Basketball Association or National Hockey League franchise. Additional changes clarify that a temporary facility may be treated the same as the permanent facility for the purposes of certain tax benefits. This bill is identical to HB 1072.
SUMMARY AS PASSED SENATE:
Hampton Roads Sports Facility Authority. Continues numerous provisions within the act creating the Authority by changing the sunset date from January 1, 2002, to January 1, 2005. The purpose of the Authority is to facilitate the attraction and operation of a National Basketball Association franchise. Additional changes clarify that a temporary facility may be treated the same as the permanent facility for the purposes of certain tax benefits. The bill contains an emergency clause and a retroactive clause so that its provisions will become effective January 1, 2002.
SUMMARY AS INTRODUCED:
Hampton Roads Sports Facility Authority. Continues numerous provisions within the act creating the Authority by changing the sunset date from January 1, 2002, to January 1, 2005. The purpose of the Authority is to facilitate the attraction and operation of a National Basketball Association franchise. Additional changes clarify that a temporary facility may be treated the same as the permanent facility for the purposes of certain tax benefits. The bill contains an emergency clause and a retroactive clause so that its provisions will become effective January 1, 2002.