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1997 SESSION
977332264Be it enacted by the General Assembly of Virginia:
1. That § 15.1-1688 of the Code of Virginia is amended and reenacted as follows:
§ 15.1-1688. Definitions.
As used in this chapter the following words have the meanings indicated:
"Authority" means the Hampton Roads Sports Facility Authority.
"Facility" means (i) stadium or arena for major league professional sports
teams, except major league baseball, (ii) practice fields or other areas where
sports teams may practice or perform, (iii) offices for sports teams or
franchises, (iv) office, restaurant, concessions, retail and lodging facilities
which are owned and operated in connection with a sports stadium or other
structure, (v) a motor sports speedway, and
(v)(vi) any other directly related properties including,
but not limited to, onsite and offsite parking lots, garages, and other
properties.
"Motor sports speedway" means an oval asphalt or concrete surface constructed for the purpose of conducting motor sports activities including, but not limited to, NASCAR racing events.
"Sports franchise" means the contractual right granted to any person or persons to own or operate a sports team in a specified location.
"Sales tax revenues" means taxes collected under the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.), as limited herein. Sales tax revenues shall not include any local general retail sales and use tax levied pursuant to §§ 58.1-605 and 58.1-606.
"Stadium" means a stadium or arena constructed for the purpose of the conduct of games by a team which is a part of the National Basketball Association or the National Hockey League.