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2020 SESSION
HB 120 Virginia Beach Sports or Entertainment Project; extends expiration date of tax incentive, etc.
Introduced by: Barry D. Knight | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Virginia Beach Sports or Entertainment Project; extend expiration date of tax incentive; modify financing structure. Provides that the City of Virginia Beach's entitlement to state sales and use tax revenue attributable to a sports or entertainment project, which under current law will expire on July 1, 2039, shall expire on July 1 following the twentieth anniversary of the completion of construction of the sports and entertainment project. The bill authorizes the City of Virginia Beach to work with a community development authority established by the City to develop a sports or entertainment district, and authorizes it to use funds from the Sports or Entertainment Project Financing Fund to pay for debt maintenance costs of such authority.
FULL TEXT
- 12/16/19 House: Prefiled and ordered printed; offered 01/08/20 20101271D pdf | impact statement
- 02/05/20 House: Committee substitute printed 20105677D-H1 pdf
- 03/02/20 House: Bill text as passed House and Senate (HB120ER) pdf | impact statement
- 03/25/20 Governor: Acts of Assembly Chapter text (CHAP0467) pdf
AMENDMENTS
HISTORY
- 12/16/19 House: Prefiled and ordered printed; offered 01/08/20 20101271D
- 12/16/19 House: Referred to Committee on Finance
- 01/29/20 House: Assigned Finance sub: Subcommittee #2
- 02/03/20 House: Subcommittee recommends reporting with substitute (6-Y 4-N)
- 02/05/20 House: Committee substitute printed 20105677D-H1
- 02/05/20 House: Reported from Finance with substitute (14-Y 7-N)
- 02/06/20 House: Read first time
- 02/07/20 House: Read second time
- 02/07/20 House: Committee substitute agreed to 20105677D-H1
- 02/07/20 House: Engrossed by House - committee substitute HB120H1
- 02/10/20 House: Read third time and defeated by House (44-Y 51-N)
- 02/10/20 House: VOTE:DEFEATED (44-Y 51-N)
- 02/10/20 House: Reconsideration of defeated action agreed to by House
- 02/10/20 House: Passed by for the day
- 02/11/20 House: Read third time and passed House (75-Y 24-N)
- 02/11/20 House: VOTE: Passage (75-Y 24-N)
- 02/12/20 Senate: Constitutional reading dispensed
- 02/12/20 Senate: Referred to Committee on Finance and Appropriations
- 02/25/20 Senate: Reported from Finance and Appropriations (15-Y 0-N 1-A)
- 02/26/20 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/26/20 Senate: Read third time
- 02/26/20 Senate: Passed Senate (36-Y 2-N 2-A)
- 03/02/20 House: Enrolled
- 03/02/20 House: Bill text as passed House and Senate (HB120ER)
- 03/02/20 House: Signed by Speaker
- 03/03/20 Senate: Signed by President
- 03/12/20 House: Enrolled Bill communicated to Governor on March 12, 2020
- 03/12/20 Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
- 03/25/20 Governor: Approved by Governor-Chapter 467 (effective 7/1/20)
- 03/25/20 Governor: Acts of Assembly Chapter text (CHAP0467)