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HB 1102

  • Virginia House Bill
  • 2020 Regular Session
  • Introduced in House Jan 07, 2020
  • Passed House Feb 10, 2020
  • Passed Senate Feb 26, 2020
  • Governor

Hampton Roads Regional Arena Authority; created, financing of a Hampton Roads arena and facility.

Abstract

Hampton Roads Regional Arena Authority created; financing of a Hampton Roads arena and facility. Creates the Hampton Roads Regional Arena Authority and grants it certain powers relating to construction of an arena and facility. Among those powers is the authority to (i) issue bonds to construct the arena and facility, (ii) receive state sales and use tax revenue that is attributable to the arena and facility, (iii) use such revenue to repay such bonds, and (iv) distribute any excess revenue to any Hampton Roads locality that elects to contribute to the financing of the construction of an arena and facility. The bill provides that the Authority's entitlement to state sales and use tax revenue will expire on the earlier of the maturity date of any bonds it issues related to constructing the arena and facility or July 1, 2060. The powers granted by the bill to the Authority are similar to those granted to the City of Virginia Beach with respect to a sports or entertainment project. The bill repeals existing provisions related to a Hampton Roads Sports Facility Authority. This bill is identical to SB 787.

Hampton Roads Regional Arena Authority created; financing of a Hampton Roads arena and facility. Creates the Hampton Roads Regional Arena Authority and grants it certain powers relating to construction of an arena and facility. Among those powers is the authority to (i) issue bonds to construct the arena and facility, (ii) receive state sales and use tax revenue that is attributable to the arena and facility, (iii) use such revenue to repay such bonds, and (iv) distribute any excess revenue to any Hampton Roads locality that elects to contribute to the financing of the construction of an arena and facility. The bill provides that the Authority's entitlement to state sales and use tax revenue will expire on the earlier of the maturity date of any bonds it issues related to constructing the arena and facility or July 1, 2070. The powers granted by the bill to the Authority are similar to those granted to the City of Virginia Beach with respect to a sports or entertainment project. The bill repeals existing provisions related to a Hampton Roads Sports Facility Authority.

Hampton Roads Regional Arena Authority created;financing of a Hampton Roads arena and facility. Creates theHampton Roads Regional Arena Authority and grants it certain powersrelating to construction of an arena and facility. Among those powersis the authority to (i) issue bonds to construct the arena and facility,(ii) receive state sales and use tax revenue that is attributableto the arena and facility, (iii) use such revenue to repay such bonds,and (iv) distribute any excess revenue to any Hampton Roads localitythat elects to contribute to the financing of the construction ofan arena and facility. The bill provides that the Authority's entitlementto state sales and use tax revenue will expire on the earlier ofthe maturity date of any bonds it issues related to constructing thearena and facility or July 1, 2070. The powers granted by the billto the Authority are similar to those granted to the City of VirginiaBeach with respect to a sports or entertainment project. The bill repeals existing provisions relatedto a Hampton Roads Sports Facility Authority.

Bill Sponsors (10)

Jason S. Miyares

  • Republican
  • lower
  • 82
Primary

C.E. Cliff Hayes, Jr.

  • Democratic
  • lower
  • 77
Cosponsor

Joseph C. Lindsey

  • Democratic
  • lower
  • 90
Cosponsor

Robert S. Bloxom, Jr.

  • Republican
  • lower
  • 100
Cosponsor

Kelly K. Convirs-Fowler

  • Democratic
  • lower
  • 21
Cosponsor

Glenn R. Davis

  • Republican
  • lower
  • 84
Cosponsor

Nancy D. Guy

  • Democratic
  • lower
  • 83
Cosponsor

Steve E. Heretick

  • Democratic
  • lower
  • 79
Cosponsor

Barry D. Knight

  • Republican
  • lower
  • 81
Cosponsor

James A. "Jay" Leftwich

  • Republican
  • lower
  • 78
Cosponsor

Votes


Actions


Mar 31, 2020

Office of the Governor

Approved by Governor-Chapter 538 (effective 7/1/20)

Mar 12, 2020

Office of the Governor

Governor's Action Deadline 11:59 p.m., April 11, 2020

House

Enrolled Bill communicated to Governor on March 12, 2020

Mar 11, 2020

House

Impact statement from TAX (HB1102ER)

Mar 03, 2020

Senate

Signed by President

Mar 02, 2020

House

Signed by Speaker

House

Enrolled

Feb 26, 2020

House

VOTE: Adoption (60-Y 32-N)

Senate

Constitutional reading dispensed (38-Y 0-N)

House

Senate substitute agreed to by House 20108311D-S1 (60-Y 32-N)

Senate

Passed Senate with substitute (36-Y 3-N 1-A)

Senate

Engrossed by Senate - committee substitute HB1102S1

Senate

Committee substitute agreed to 20108311D-S1

Senate

Reading of substitute waived

Senate

Read third time

Feb 25, 2020

Senate

Committee substitute printed 20108311D-S1

Senate

Reported from Finance and Appropriations with substitute (16-Y 0-N)

Feb 13, 2020

House

Impact statement from TAX (HB1102H1)

Feb 11, 2020

Senate

Referred to Committee on Finance and Appropriations

Senate

Constitutional reading dispensed

Feb 10, 2020

House

Read third time and passed House (59-Y 38-N)

House

VOTE: Passage (59-Y 38-N)

Feb 07, 2020

House

Read second time

House

Engrossed by House - committee substitute HB1102H1

House

Committee substitute agreed to 20106197D-H1

Feb 06, 2020

House

Read first time

Feb 05, 2020

House

Reported from Finance with substitute (16-Y 5-N)

House

Committee substitute printed 20106197D-H1

Feb 03, 2020

House

Subcommittee recommends reporting with substitute (5-Y 4-N)

House

House committee, floor amendments and substitutes offered

Jan 29, 2020

House

Assigned Finance sub: Subcommittee #2

House

Impact statement from TAX (HB1102)

Jan 18, 2020

House

Impact statement from DHCD (HB1102)

Jan 07, 2020

House

Referred to Committee on Finance

House

Prefiled and ordered printed; offered 01/08/20 20105118D

Bill Text

Bill Text Versions Format
Impact statement from DHCD (HB1102) HTML
Engrossed by House - committee substitute HB1102H1 HTML
Engrossed by Senate - committee substitute HB1102S1 HTML
Bill text as passed House and Senate (HB1102ER) HTML
Acts of Assembly Chapter text (CHAP0538) HTML

Related Documents

Document Format
No related documents.

Sources

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