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2020 SESSION

• | print version

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

• House subcommittee amendments and substitutes adopted

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)