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SB787

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

Status:
Enacted

Chief Patron:
Lynwood Lewis (D)

Session:
2020 Regular Session

Summary

As Passed House of Origin. 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. (Less)

  • Bill History

  • 01/08/2020 - Senate: Prefiled and ordered printed; offered 01/08/20 20103539D
  • 01/08/2020 - Senate: Referred to Committee on Local Government
  • 01/18/2020 - Senate: Impact statement from DHCD (SB787)
  • 01/20/2020 - Senate: Reported from Local Government with amendments (12-Y 1-N 2-A)
  • 01/20/2020 - Senate: Rereferred to Finance and Appropriations
  • 01/23/2020 - Senate: Impact statement from TAX (SB787)
  • 01/29/2020 - Senate: Reported from Finance and Appropriations (16-Y 0-N)
  • 01/30/2020 - Senate: Constitutional reading dispensed (37-Y 0-N)
  • 01/31/2020 - Senate: Read second time
  • 01/31/2020 - Senate: Reading of amendments waived
  • 01/31/2020 - Senate: Committee amendments agreed to
  • 01/31/2020 - Senate: Engrossed by Senate as amended SB787E
  • 01/31/2020 - Senate: Printed as engrossed 20103539D-E
  • 02/03/2020 - Senate: Read third time and passed Senate (37-Y 2-N)
  • 02/13/2020 - Senate: Impact statement from TAX (SB787E)
  • 02/21/2020 - House: Placed on Calendar
  • 02/21/2020 - House: House committee, floor amendments and substitutes offered
  • 02/21/2020 - House: Read first time
  • 02/21/2020 - House: Referred to Committee on Appropriations
  • 02/21/2020 - House: Reported from Appropriations with substitute (18-Y 4-N)
  • 02/21/2020 - House: Committee substitute printed 20108317D-H1
  • 02/25/2020 - House: Read second time
  • 02/26/2020 - House: House committee, floor amendments and substitutes offered
  • 02/26/2020 - House: Read third time
  • 02/26/2020 - House: Committee substitute agreed to 20108317D-H1
  • 02/26/2020 - House: Amendment by Delegate Miyares agreed to
  • 02/26/2020 - House: Engrossed by House - committee substitute with amendment SB787H1
  • 02/26/2020 - House: Passed House with substitute with amendment (64-Y 34-N)
  • 02/26/2020 - House: VOTE: Passage (64-Y 34-N)   Close Floor Vote
  • 02/26/2020 - Senate: House substitute with amendment agreed to by Senate (38-Y 2-N)
  • 02/26/2020 - Senate: Title replaced 20108317D-H1
  • 03/04/2020 - Senate: Enrolled
  • 03/04/2020 - Senate: Bill text as passed Senate and House (SB787ER)
  • 03/05/2020 - Senate: Signed by President
  • 03/06/2020 - House: Signed by Speaker
  • 03/11/2020 - Senate: Impact statement from TAX (SB787ER)
  • 03/12/2020 - Senate: Enrolled Bill Communicated to Governor on March 12, 2020
  • 03/12/2020 - Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
  • 03/31/2020 - Governor: Approved by Governor-Chapter 539 (effective 7/1/20)
  • 03/31/2020 - Governor: Acts of Assembly Chapter text (CHAP0539)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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