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Committee advances bill to enable $300M-plus Sevier County stadium redevelopment
Summary
House Bill 24 96 — described by its sponsor as enabling a private investment of over $300 million to redevelop an empty stadium in Sevier County — was moved to full finance unanimously by the subcommittee.
House Bill 24 96, sponsored by Chairman Farmer, was presented to the committee as a vehicle to facilitate a more than $300 million investment to redevelop an empty stadium in Sevier County and spur statewide tax revenues.
"We're in a position to have a 300 plus million dollar investment in that stadium which would provide for tax dollars all across the state," Chairman Farmer said, describing the redevelopment and asking for passage. Members called the previous question, and the committee voted to move the bill to full finance; the clerk announced 13 ayes, 0 nos.
Committee members did not record extended debate on fiscal offsets during the hearing; chair staff noted that because the bill has fiscal impact it will be placed behind the budget for full fiscal review before floor consideration.
