Virginia Beach arena; Virginia beach may use Arena Financing Fund to collect taxes for facility. (HB734)

Introduced By

Del. Israel O'Quinn (R-Bristol)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Beach arena. Provides that the City of Virginia Beach may use its Arena Financing Fund to collect sales and use tax revenues and remit such revenues to the private facility owner as a contribution toward the cost of the facility if the City has contributed infrastructure or real property to the owner. The bill also makes technical amendments to the existing sunset provisions. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/07/2014Committee
01/07/2014Prefiled and ordered printed; offered 01/08/14 14102874D
01/07/2014Referred to Committee on Counties, Cities and Towns
01/10/2014Assigned CC & T sub: Subcommittee #1
01/24/2014Impact statement from TAX (HB734)
01/29/2014Subcommittee recommends striking from docket
01/31/2014Stricken from docket by Counties, Cities and Towns

Duplicate Bills

The following bills are identical to this one: SB571.

Comments

Gregg J writes:

Will Virginia Beach residents share in arena/sports team profits? If not, public money shouldn't be used to fund private interests.

Gregg J writes:

Will Virginia Beach residents share in the arena/sports team profits? If not, public money shouldn't be used to fund private interests. This is nothing but corporate welfare and a bad idea. Think this is a good idea? Ask any city that built an arena only to have the sports team leave several years later because public money handouts dried up.