Hampton Roads Regional Arena Authority; created, financing of a Hampton Roads arena and facility. (HB1102)

Introduced By

Del. Jason Miyares (R-Virginia Beach) with support from co-patron Del. Glenn Davis (R-Virginia Beach)

Progress

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

Description

Hampton Roads Regional Arena Authority created; financing of a Hampton Roads arena and facility. Creates the Hampton Roads Regional Arena Authority and grants it certain powers relating to construction of an arena and facility. Among those powers is the authority to (i) issue bonds to construct the arena and facility, (ii) receive state sales and use tax revenue that is attributable to the arena and facility, (iii) use such revenue to repay such bonds, and (iv) distribute any excess revenue to any Hampton Roads locality that elects to contribute to the financing of the construction of an arena and facility. The bill provides that the Authority's entitlement to state sales and use tax revenue will expire on the earlier of the maturity date of any bonds it issues related to constructing the arena and facility or July 1, 2070. The powers granted by the bill to the Authority are similar to those granted to the City of Virginia Beach with respect to a sports or entertainment project. The bill repeals existing provisions related to a Hampton Roads Sports Facility Authority. Read the Bill »

Status

02/11/2020: In Committee

History

DateAction
01/07/2020Committee
01/07/2020Prefiled and ordered printed; offered 01/08/20 20105118D
01/07/2020Referred to Committee on Finance
01/12/2020Impact statement from DHCD (HB1102)
01/18/2020Impact statement from DHCD (HB1102)
01/29/2020Assigned Finance sub: Subcommittee #2
01/29/2020Impact statement from TAX (HB1102)
02/03/2020House committee, floor amendments and substitutes offered
02/03/2020Subcommittee recommends reporting with substitute (5-Y 4-N)
02/05/2020Committee substitute printed 20106197D-H1
02/05/2020Reported from Finance with substitute (16-Y 5-N) (see vote tally)
02/06/2020Read first time
02/07/2020Read second time
02/07/2020Committee substitute agreed to 20106197D-H1
02/07/2020Engrossed by House - committee substitute HB1102H1
02/10/2020Read third time and passed House (59-Y 38-N)
02/10/2020VOTE: Passage (59-Y 38-N) (see vote tally)
02/11/2020Constitutional reading dispensed
02/11/2020Referred to Committee on Finance and Appropriations
02/13/2020Impact statement from TAX (HB1102H1)

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