Richmond, City of; arena and development project. (HB1345)

Introduced By

Del. Jeff Bourne (D-Richmond)

Progress

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

Description

City of Richmond; arena and development project. Grants the City of Richmond certain powers relating to construction of an arena and development project and any related facilities. Among those powers is the authority to receive state sales and use tax revenue that is attributable to such project and use such revenue to repay such bonds. The bill provides that the City of Richmond's entitlement to revenue shall expire on the earlier of the date of the final payment of any bonds issued to finance or refinance any cost of the project or 35 years from the initial date that any bonds were issued to pay any cost of the project. The powers granted by the bill to the City of Richmond are similar to those granted to the City of Virginia Beach with respect to a sports or entertainment project. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2020Committee
01/08/2020Prefiled and ordered printed; offered 01/08/20 20104155D
01/08/2020Referred to Committee on Counties, Cities and Towns
01/12/2020Impact statement from DHCD (HB1345)
01/18/2020Impact statement from DHCD (HB1345)
01/29/2020Assigned CC & T sub: Charters
01/30/2020Impact statement from TAX (HB1345)
01/30/2020Subcommittee Recommends laying on the table
01/30/2020Yea- Roem, Samirah, Subramanyam, Jenkins, Poindexter, Wyatt
01/31/2020Referred from Counties, Cities and Towns
01/31/2020Referred to Committee on Finance
02/03/2020Subcommittee recommends laying on the table (10-Y 0-N)
02/11/2020Left in Finance

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