Va.Beach arena; if Va. Beach issues bonds for a facility, it shall create an Arena Financing Fund. (SB571)
Introduced By
Sen. Frank Wagner (R-Virginia Beach)
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 Passed
History
Date | Action |
---|---|
01/09/2014 | Presented and ordered printed 14103604D |
01/09/2014 | Referred to Committee on Local Government |
01/21/2014 | Impact statement from TAX (SB571) |
01/21/2014 | Reported from Local Government with substitute (14-Y 0-N) |
01/21/2014 | Committee substitute printed 14104277D-S1 |
01/21/2014 | Rereferred to Finance |
01/24/2014 | Impact statement from TAX (SB571S1) |
01/29/2014 | Reported from Finance with substitute (15-Y 0-N) (see vote tally) |
01/29/2014 | Committee substitute printed 14104446D-S2 |
01/30/2014 | Constitutional reading dispensed (40-Y 0-N) |
01/31/2014 | Read second time |
01/31/2014 | Reading of substitute waived |
01/31/2014 | Committee substitute rejected 14104277D-S1 |
01/31/2014 | Committee substitute agreed to 14104446D-S2 |
01/31/2014 | Engrossed by Senate - committee substitute SB571S2 |
02/03/2014 | Read third time and passed Senate (40-Y 0-N) |
02/07/2014 | Placed on Calendar |
02/07/2014 | Read first time |
02/07/2014 | Referred to Committee on Counties, Cities and Towns |
02/07/2014 | Impact statement from TAX (SB571S2) |
02/11/2014 | Assigned CC & T sub: Subcommittee #1 |
02/11/2014 | Assigned CC & T sub: Subcommittee #2 |
02/21/2014 | Reported from Counties, Cities and Towns with substitute (21-Y 1-N) (see vote tally) |
02/21/2014 | Committee substitute printed 14105212D-H1 |
02/24/2014 | Read second time |
02/25/2014 | Read third time |
02/25/2014 | Committee substitute agreed to 14105212D-H1 |
02/25/2014 | Engrossed by House - committee substitute SB571H1 |
02/25/2014 | Passed House with substitute (86-Y 10-N 1-A) |
02/25/2014 | VOTE: PASSAGE (86-Y 10-N 1-A) (see vote tally) |
02/25/2014 | Reconsideration of House passage agreed to by House |
02/25/2014 | Passed House with substitute (84-Y 12-N 1-A) |
02/25/2014 | VOTE: PASSAGE #2 (84-Y 12-N 1-A) (see vote tally) |
02/27/2014 | House substitute agreed to by Senate (40-Y 0-N) |
02/27/2014 | Title replaced 14105212D-H1 |
03/03/2014 | Enrolled |
03/03/2014 | Bill text as passed Senate and House (SB571ER) |
03/03/2014 | Signed by Speaker |
03/06/2014 | Signed by President |
03/13/2014 | Impact statement from TAX (SB571ER) |
04/06/2014 | G Approved by Governor-Chapter 742 (effective 7/1/14) |
04/06/2014 | G Acts of Assembly Chapter text (CHAP0742) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 40 seconds.
Comments
Will Virginia Beach residents share in arena/sports team profits? If not, public money shouldn't be used to fund private interests.
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.