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Caucus hears bill to divert taxes to stadium district fund for Major League Baseball facility
Summary
House Bill 2704 would divert multiple transaction privilege and excise taxes from events at a Major League Baseball facility into a county stadium district fund and create a governing board for that fund.
Nicole, staff member, briefed caucus members on House Bill 2704, a tax distribution measure described in caucus as the "Diamondbacks bill." "This bill not only diverts the tax the taxes that I mentioned earlier, but also creates a fund in which the money will go to," Nicole said.
As presented to the caucus, HB 2704 would divert state, county and city transaction privilege taxes (TPT) and related excise taxes from events held at a Major League Baseball facility within a county stadium district into a county stadium district fund. The House-passed version also included provisions to cover retail, amusement, restaurant and prime contracting activity at such events and to extend collections to adjacent buildings operated or occupied by a professional baseball franchise organization.
The Senate amended the bill to adjust the percentages that would determine how diverted tax revenue is distributed; the transcript did not specify the revised percentages. The Senate version also creates a governing board for the fund. As explained by Nicole, the board composition in the Senate amendment includes two members appointed by the mayor of the city where the facility sits, one county supervisor appointee, an ex officio nonvoting representative from the Major League Baseball team at the facility, four members with experience in construction, redevelopment, architecture, economic development or commercial/public finance (two appointed by the governor, one by the president of the Senate and one by the Senate minority leader), and two business-owner members located within three miles of the field (one appointed by the Speaker of the House and one by the House minority leader).
The amended bill also provides for staggered board terms to be assigned by the board itself and directs that vacant seats be filled within 30 days of an initial vacancy, according to Nicole. The caucus transcript records no further questions and shows no formal vote or caucus action on HB 2704.
Because the transcript referenced adjustments to distribution percentages and penalties if the team leaves the state but did not include the numerical allocations, this article notes those items as not specified in the caucus record.
