Public Chapter 382
SENATE BILL NO. 1635
Substituted for: House Bill No. 1397
By Kisber, McDaniel
AN ACT To amend Tennessee Code Annotated, Title 7, Chapter 67 and Section 67-6-103, relative to sports authorities and tax allocations for sports authorities.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 7-67-108(a)(4)(B), is amended by inserting in the first sentence between the figures "(600,000)" and the word "according" the language "or not less than forty-seven thousand three hundred (47,300) nor more than fifty thousand (50,000)".
SECTION 2. Tennessee Code Annotated, Section 67-6-103(d)(1)(A), is amended by adding the following language as a new second sentence:
Notwithstanding the allocations provided for in subsection (a), if a municipality secures a minor league affiliate of a major league baseball team (American or National League) playing at the Class AA level, and such franchise moves to such municipality from another municipality in this state; and
IF such municipality constructs a new stadium for such franchise;
THEN an amount shall be apportioned and distributed to the municipality equal to the amount of state tax revenue derived from the sale of admissions to games of the professional sports franchise and also the sale of food and drink sold on the premises of the sports facility in conjunction with those games, parking charges, and related services, as well as the sale by such professional sports franchise, within the county in which the games take place, of authorized franchise goods and products associated with its operations as a professional sports franchise.
SECTION 3. This act shall take effect upon becoming a law, the public welfare requiring it.