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Economic Matters Committee approves bill to let Prince George's County use bond proceeds for immersive-entertainment projects
Summary
The Economic Matters Committee passed House Bill 1247, an emergency amendment authorizing Prince George's County to pledge certain tax revenues and use proceeds from county or revenue-authority bonds for acquisition, construction or rehabilitation of immersive entertainment projects such as the Sphere; counsel said the district definition could be applied statewide though tax pledging is county-specific.
The Economic Matters Committee passed House Bill 12 47 in a brief pre-hearing voting session, approving an emergency amendment that would allow Prince George's County — and potentially other jurisdictions under the bill's expanded definition — to pledge certain tax revenues and use bond proceeds for immersive entertainment projects such as the Sphere near National Harbor.
Committee member (S3) described the measure as doing two things: expanding the definition of qualifying areas to include an "extraordinary entertainment or development district" and broadening allowable uses of bond proceeds "to be used for acquisition,…
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