Bill Summary

by Santiago Co Sponsors: Adkins, Cummings, Davis, Fullwood, Hood, Hutson, Jones (M), Taylor CS Sponsors: Finance & Tax Subcommittee, Economic Affairs Committee

Sports Facilities: Authorizes boards of county commissioners to include certain commercial developments in lease agreements related to professional sports franchise facilities; provides exemption from sales & use tax for building materials used in construction, reconstruction, expansion, or renovation of certain certified motorsports entertainment complexes through refund of previously paid taxes; provides procedures for applying for authority to earn tax refund; provides procedures for certifying refund for completed projects; provides procedures for applying for refund; provides audit authority & procedures for recapturing refunds; provides for reductions in certain local government half-cent sales tax distributions; provides for monthly distribution of specified amount of sales tax revenue to certain facilities certified by DEO as meeting requirements for receiving such funds; provides for applicability of specified statutory provisions with respect to funding of certified applicant's facility; authorizes applicant previously certified as facility for new or retained professional sports franchise to receive additional certification; revises requirements for certification of facility as motorsports entertainment complex by DEO. Effective Date: July 1, 2013

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