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Committee advances private act tying FedEx Forum improvements to NBA lease
Summary
The Private Acts Committee advanced House Bill 2666, a private act sponsored by Vaughn that rewrites hotel/motel tax language for improvements at the FedEx Forum, ties some funding to an NBA lease and allows phasing aimed at avoiding bonded indebtedness. Vote: 8-0.
House Bill 2666, a private act sponsored by Vaughn to amend the funding mechanism for improvements at the FedEx Forum, was advanced out of the Private Acts Committee on April 13 by an 8-0 vote.
Sponsor Vaughn told the committee the Shelby County Commission "unanimously approved that language on, March 30 of this year." He described the measure as "a private act that, amends some of the language with regards to the current funding mechanism for improvements in and around the FedEx Forum." Vaughn said the bill "ties it to an NBA lease in the forum" and "allows them to phase the project where hopefully they can avoid bonded indebtedness." The reference to the NBA was clarified in committee as the National Basketball Association tenant, the Memphis Grizzlies.
Committee members asked follow-up questions and then proceeded to a recorded vote. The clerk reported "8 ayes and 0 no's," and the chair announced that House Bill 2666 will go to the State and Local Government Calendar. No amendments or motions to table the bill were recorded during the committee session.
The committee paused briefly during the meeting for a short recess but reconvened and completed the vote. Next procedural steps are the State and Local Government calendar review; the committee did not specify further implementation details, bond amounts, or a phased timeline in the session.
