LB 551 - Sports Arena and Convention Center Funding - Nebraska Key Vote

Stage Details

Title: Sports Arena and Convention Center Funding

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Title: Sports Arena and Convention Center Funding

Vote Smart's Synopsis:

Vote to pass a bill that increases a city’s share of sales tax revenue from approved facilities.

Highlights:

-Defines an approved facility as a publicly owned convention or meeting center, associated hotel, and an enclosed temperature controlled sports arena (sec. 2). -Transfers up to 70 percent of the sales tax collected from the approved facilities to the city, of which 10 percent must be distributed to areas with a high concentration of poverty (sec. 6). -Transfers the remaining 30 percent of the collected sales tax to the Local Civic, Cultural, and Convention Center Financing Fund (sec. 6).

Title: Sports Arena and Convention Center Funding

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