Vote Smart's Synopsis:

Vote to pass a bill that appropriates millions in state and local funding for public tax credits for the Las Vegas Athletics new stadium.

Highlights:

• Appropriates $380 million in public funding to the Nevada Stadium Authority State Infrastructure Bank Fund to support public tax credits for the Las Vegas Athletics new baseball stadium, to be expended immediately (Sec. 30).

• Authorizes the use of state and local funding and resources to build the aforementioned stadium and requires the the Athletics organization develop a community development agreement overseen by the legislative committee (Sec. 30).

• Prohibits the Stadium Authority from approving more than $36 million in transferable tax credits each fiscal year, or $180 million in total for all qualified projects in the state (Sec. 31).

• Repeals previous exemptions for companies with more than 50 employees seeking state and tax abatements that required they provide 12 weeks of paid family and medical leave per year (Sec. 38).

• Repeals the previous exemption to the work of or incident reporting for the installation and operation a monorail from the prevailing wage requirements (Sec. 38).

• Establishes a public financing package for the stadium of up to $180 million in transferable tax credits, and authorizes the credits to be sold for cash to other businesses (Sec. 39).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the governor (Sec. 40).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that appropriates millions in state and local funding for public tax credits for the Las Vegas Athletics new stadium.

Highlights:

• Appropriates $380 million in public funding to the Nevada Stadium Authority State Infrastructure Bank Fund to support public tax credits for the Las Vegas Athletics new baseball stadium, to be expended immediately (Sec. 30).

• Authorizes the use of state and local funding and resources to build the aforementioned stadium and requires the the Athletics organization develop a community development agreement overseen by the legislative committee (Sec. 30).

• Prohibits the Stadium Authority from approving more than $36 million in transferable tax credits each fiscal year, or $180 million in total for all qualified projects in the state (Sec. 31).

• Repeals previous exemptions for companies with more than 50 employees seeking state and tax abatements that required they provide 12 weeks of paid family and medical leave per year (Sec. 38).

• Repeals the previous exemption to the work of or incident reporting for the installation and operation a monorail from the prevailing wage requirements (Sec. 38).

• Establishes a public financing package for the stadium of up to $180 million in transferable tax credits, and authorizes the credits to be sold for cash to other businesses (Sec. 39).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the governor (Sec. 40).

Full Bill Text