Vote Smart's Synopsis:

Vote to pass a bill that authorizes the construction of a publicly and privately funded Vikings stadium in Minneapolis.

Highlights:

• Establishes the Minnesota Sports Facilities Authority as a 5 member public body, and a political subdivision of the state, which possesses the authority to develop, construct, own, and operate a new stadium, the stadium infrastructure, and related facilities (Art. 1, Secs. 11-13).

• Requires, “to the extent practicable,” at least 25 percent of the materials and equipment used in the construction, operation, maintenance, and use of the stadium and related facilities and stadium infrastructure to be produced by Minnesota businesses (Art. 1, Sec. 15).

• Specifies the maximum shares of the stadium cost as (Article 1, Secs. 15,19)
• $348 million from the state;
• $150 million from the City of Minneapolis; and
• $477 million from the Vikings.

• Authorizes the commissioner of management and budget to issue appropriation bonds to assist in financing the state's portion of the stadium (Art. 2, Sec. 1).

• Requires the construction or program manager of the stadium project to certify a guaranteed maximum construction price and completion date and post a performance bond of at least 100 percent of that price to cover any excess costs which may be incurred (Art. 1, Sec. 15).

• Prohibits the Authority from transferring or selling the title to the stadium without the enactment of legislation approving such sale or transfer (Art. 1, Sec. 13).

• Expands the definition of “gambling product” to include electronic linked bingo and electronic pull tab devices (Art. 4, Sec. 1).

• Requires the new stadium to incorporate certain approximate certifications, including, but not be limited to, the following (Sec. 15):
• 1.5 million square feet;
• 65,000 seats, expandable to 72,000 seats;
• 7,500 club seats;
• 150 suites;
• Areas for NFL team-related exhibitions and merchandise sales;
• Administrative offices for the authority;
• Team meeting spaces, locker rooms, and training rooms;
• 2,000 parking spaces within 1 block of the stadium, connected by skyway or tunnel to the stadium and 500 parking spaces within 2 blocks of the stadium accessible by walkway; and
• A roof that is fixed or retractable.

• Specifies that if the roof is retractable, it should not require any additional funding from the state or city (Art. 1, Sec. 15).

• Requires the design, development, and construction of the stadium to be a collaborative process between the Authority and the NFL team (Art. 1, Sec. 15).

• Requires the Authority to pay for all operating expenses of the stadium and requires the Vikings to pay the Authority $8.5 million annually towards operating costs, starting in 2016 and increasing at a 3 percent annual inflation rate (Art. 1, Sec. 18).

• Requires the Authority and the NFL team to enter into a 30-year long-term lease or use agreement for the stadium (Art. 1, Sec. 19).

• Requires the state to pay the Authority $6 million in operating expenses annually starting in 2016, increased by an “annual adjustment factor”, and continuing through 2020 (Art. 1, Sec. 18).

• Requires the Authority to establish a capital reserve fund for the purpose of financing all capital repairs (Art. 1, Sec. 18).

• Requires that the NFL team and the state annually contribute $1.5 million each to the capital reserve fund, increased at an “annual adjustment factor”, beginning in 2016 and continuing until 2020 (Art. 1, Sec. 18).

• Specifies that all naming rights to the stadium are retained by the Vikings (Art. 1, Sec. 19).

• Authorizes the Vikings exclusive rights for 5 years after the first home game is played at the stadium to establish a Major League Soccer franchise that is authorized to play in the stadium (Art. 1, Sec. 19).

• Specifies that any of the Vikings' financial data obtained by the Authority in the event of a material breach under the use agreement is nonpublic data (Art. 1, Sec. 19).

• Authorizes the Commissioner to implement the following back-up revenue options in the case of certain revenue shortfalls in the following order (Art. 6, Sec. 1):
• A sports-themed lottery game conducted by the State Lottery; and
• A tax on stadium luxury suites.

• Requires the city of Minneapolis to maintain a sales tax of not more than 3 percent on lodging, restaurants, and liquor in the downtown area until 2047, at the earliest (Art. 3, Sec. 3).

• Prohibits the states from placing property taxes on the stadium (Art. 1, Sec. 21).

Signed by Governor Mark Dayton

Vote Smart's Synopsis:

Vote to adopt a conference report that authorizes the construction of a publicly and privately funded Vikings stadium in Minneapolis.

Highlights:

• Establishes the Minnesota Sports Facilities Authority as a 5 member public body, and a political subdivision of the state, which possesses the authority to develop, construct, own, and operate a new stadium, the stadium infrastructure, and related facilities (Art. 1, Secs. 11-13).

• Requires, “to the extent practicable,” at least 25 percent of the materials and equipment used in the construction, operation, maintenance, and use of the stadium and related facilities and stadium infrastructure to be produced by Minnesota businesses (Art. 1, Sec. 15).

• Specifies the maximum shares of the stadium cost as (Article 1, Secs. 15,19)
• $348 million from the state;
• $150 million from the City of Minneapolis; and
• $477 million from the Vikings.

• Authorizes the commissioner of management and budget to issue appropriation bonds to assist in financing the state's portion of the stadium (Art. 2, Sec. 1).

• Requires the construction or program manager of the stadium project to certify a guaranteed maximum construction price and completion date and post a performance bond of at least 100 percent of that price to cover any excess costs which may be incurred (Art. 1, Sec. 15).

• Prohibits the Authority from transferring or selling the title to the stadium without the enactment of legislation approving such sale or transfer (Art. 1, Sec. 13).

• Expands the definition of “gambling product” to include electronic linked bingo and electronic pull tab devices (Art. 4, Sec. 1).

• Requires the new stadium to incorporate certain approximate certifications, including, but not be limited to, the following (Sec. 15):
• 1.5 million square feet;
• 65,000 seats, expandable to 72,000 seats;
• 7,500 club seats;
• 150 suites;
• Areas for NFL team-related exhibitions and merchandise sales;
• Administrative offices for the authority;
• Team meeting spaces, locker rooms, and training rooms;
• 2,000 parking spaces within 1 block of the stadium, connected by skyway or tunnel to the stadium and 500 parking spaces within 2 blocks of the stadium accessible by walkway; and
• A roof that is fixed or retractable.

• Specifies that if the roof is retractable, it should not require any additional funding from the state or city (Art. 1, Sec. 15).

• Requires the design, development, and construction of the stadium to be a collaborative process between the Authority and the NFL team (Art. 1, Sec. 15).

• Requires the Authority to pay for all operating expenses of the stadium and requires the Vikings to pay the Authority $8.5 million annually towards operating costs, starting in 2016 and increasing at a 3 percent annual inflation rate (Art. 1, Sec. 18).

• Requires the Authority and the NFL team to enter into a 30-year long-term lease or use agreement for the stadium (Art. 1, Sec. 19).

• Requires the state to pay the Authority $6 million in operating expenses annually starting in 2016, increased by an “annual adjustment factor”, and continuing through 2020 (Art. 1, Sec. 18).

• Requires the Authority to establish a capital reserve fund for the purpose of financing all capital repairs (Art. 1, Sec. 18).

• Requires that the NFL team and the state annually contribute $1.5 million each to the capital reserve fund, increased at an “annual adjustment factor”, beginning in 2016 and continuing until 2020 (Art. 1, Sec. 18).

• Specifies that all naming rights to the stadium are retained by the Vikings (Art. 1, Sec. 19).

• Authorizes the Vikings exclusive rights for 5 years after the first home game is played at the stadium to establish a Major League Soccer franchise that is authorized to play in the stadium (Art. 1, Sec. 19).

• Specifies that any of the Vikings' financial data obtained by the Authority in the event of a material breach under the use agreement is nonpublic data (Art. 1, Sec. 19).

• Authorizes the Commissioner to implement the following back-up revenue options in the case of certain revenue shortfalls in the following order (Art. 6, Sec. 1):
• A sports-themed lottery game conducted by the State Lottery; and
• A tax on stadium luxury suites.

• Requires the city of Minneapolis to maintain a sales tax of not more than 3 percent on lodging, restaurants, and liquor in the downtown area until 2047, at the earliest (Art. 3, Sec. 3).

• Prohibits the states from placing property taxes on the stadium (Art. 1, Sec. 21).

Full Bill Text

Vote Smart's Synopsis:

Vote to adopt a conference report that authorizes the construction of a publicly and privately funded Vikings stadium in Minneapolis.

Highlights:

• Establishes the Minnesota Sports Facilities Authority as a 5 member public body, and a political subdivision of the state, which possesses the authority to develop, construct, own, and operate a new stadium, the stadium infrastructure, and related facilities (Art. 1, Secs. 11-13).

• Requires, “to the extent practicable,” at least 25 percent of the materials and equipment used in the construction, operation, maintenance, and use of the stadium and related facilities and stadium infrastructure to be produced by Minnesota businesses (Art. 1, Sec. 15).

• Specifies the maximum shares of the stadium cost as (Article 1, Secs. 15,19)
• $348 million from the state;
• $150 million from the City of Minneapolis; and
• $477 million from the Vikings.

• Authorizes the commissioner of management and budget to issue appropriation bonds to assist in financing the state's portion of the stadium (Art. 2, Sec. 1).

• Requires the construction or program manager of the stadium project to certify a guaranteed maximum construction price and completion date and post a performance bond of at least 100 percent of that price to cover any excess costs which may be incurred (Art. 1, Sec. 15).

• Prohibits the Authority from transferring or selling the title to the stadium without the enactment of legislation approving such sale or transfer (Art. 1, Sec. 13).

• Expands the definition of “gambling product” to include electronic linked bingo and electronic pull tab devices (Art. 4, Sec. 1).

• Requires the new stadium to incorporate certain approximate certifications, including, but not be limited to, the following (Sec. 15):
• 1.5 million square feet;
• 65,000 seats, expandable to 72,000 seats;
• 7,500 club seats;
• 150 suites;
• Areas for NFL team-related exhibitions and merchandise sales;
• Administrative offices for the authority;
• Team meeting spaces, locker rooms, and training rooms;
• 2,000 parking spaces within 1 block of the stadium, connected by skyway or tunnel to the stadium and 500 parking spaces within 2 blocks of the stadium accessible by walkway; and
• A roof that is fixed or retractable.

• Specifies that if the roof is retractable, it should not require any additional funding from the state or city (Art. 1, Sec. 15).

• Requires the design, development, and construction of the stadium to be a collaborative process between the Authority and the NFL team (Art. 1, Sec. 15).

• Requires the Authority to pay for all operating expenses of the stadium and requires the Vikings to pay the Authority $8.5 million annually towards operating costs, starting in 2016 and increasing at a 3 percent annual inflation rate (Art. 1, Sec. 18).

• Requires the Authority and the NFL team to enter into a 30-year long-term lease or use agreement for the stadium (Art. 1, Sec. 19).

• Requires the state to pay the Authority $6 million in operating expenses annually starting in 2016, increased by an “annual adjustment factor”, and continuing through 2020 (Art. 1, Sec. 18).

• Requires the Authority to establish a capital reserve fund for the purpose of financing all capital repairs (Art. 1, Sec. 18).

• Requires that the NFL team and the state annually contribute $1.5 million each to the capital reserve fund, increased at an “annual adjustment factor”, beginning in 2016 and continuing until 2020 (Art. 1, Sec. 18).

• Specifies that all naming rights to the stadium are retained by the Vikings (Art. 1, Sec. 19).

• Authorizes the Vikings exclusive rights for 5 years after the first home game is played at the stadium to establish a Major League Soccer franchise that is authorized to play in the stadium (Art. 1, Sec. 19).

• Specifies that any of the Vikings' financial data obtained by the Authority in the event of a material breach under the use agreement is nonpublic data (Art. 1, Sec. 19).

• Authorizes the Commissioner to implement the following back-up revenue options in the case of certain revenue shortfalls in the following order (Art. 6, Sec. 1):
• A sports-themed lottery game conducted by the State Lottery; and
• A tax on stadium luxury suites.

• Requires the city of Minneapolis to maintain a sales tax of not more than 3 percent on lodging, restaurants, and liquor in the downtown area until 2047, at the earliest (Art. 3, Sec. 3).

• Prohibits the states from placing property taxes on the stadium (Art. 1, Sec. 21).

Full Bill Text