Virginia Football Stadium Authority; established, definitions, report.
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SB 727 — Virginia Football Stadium Authority; established, definitions, report.
Last action — Continued to 2022 Sp. Sess. 1 pursuant to HJR455
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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3Passed Senate
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4Passed House of Delegates
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5To Executive
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6Enacted
This bill died with 2022 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Virginia Football Stadium Authority. Establishes the Virginia Football Stadium Authority as a political subdivision charged with financing the construction of a football stadium and related facilities. The Authority is authorized to hire independent contractors, enter contracts, acquire property, borrow money, and exercise other similar powers. The Authority is exempt from the Personnel Act and the Public Procurement Act. The Authority may issue bonds with a maximum maturity date of 40 years.The bill entitles the Authority to sales tax revenues from transactions at the stadium but would exclude certain revenues that current law dedicates to transportation and education. The bill also entitles the Authority to corporate income tax revenues from football teams that use the stadium and personal income tax revenues from income generated by employment or the conduct of business at the stadium. The Authority receives all corporate income tax revenues but only 4.25 percent of personal income tax revenues. Remaining personal income tax revenues accrue to the general fund.The Authority is made up of nine members appointed by the Governor and subject to confirmation by the General Assembly. Four of the nine members are appointed from a list chosen by the football team that primarily will use the stadium.The bill enables localities to exercise their eminent domain power to acquire property and convey it to the Authority. It also authorizes localities to appropriate tax revenues to the Authority.
Bill Text
What changed in the latest version
389 added · 415 removedPlain-language change summary
The legislative amendment to Bill SB 727 introduced the "Virginia Football Stadium Authority" and clarified various definitions related to it. Changes include adding the definition of the "Facility," which now encompasses not only the stadium itself but also practice fields, offices, and related properties, as well as "Naming rights revenues" related to the stadium. Additionally, provisions were simplified or removed regarding how landowners can petition to include their parcels in the stadium's development area. These changes are significant as they create a clearer framework for managing the stadium's operations and revenue generation, which could have economic impacts for the region.
SESSION ENGROSSEDHOUSE 22106150DSUBSTITUTE SENATE22106884D AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the House Committee on Appropriations on February 25, 2022) (Patron Prior to Substitute––Senator Saslaw) A BILL NO.to amend the Code of Virginia by adding in Title 15.2 a chapter numbered 58.1, consisting of sections numbered 15.2-5824 through 15.2-5845, relating to a Virginia Football Stadium Authority.
727 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the Senate Committee on Finance and Appropriations) (Patron Prior to Substitute––Senator Saslaw) Senate Amendments in [ ] - February 15, 2022 A Bsections numbered 15.2-5824 through 15.2-5845, relating to a Virginia Football Stadium Authority.
1.consisting of sections numbered 15.2-5824 through 15.2-5845, as follows:r numbered 58.1, CHAPTER 58.1.
That the Code of Virginia is amended by adding in Title 15.2 a chapter numbered 58.1, E consisting of sections numbered 15.2-5824 through 15.2-5845, as follows:
N CHAPTER 58.1.
G § 15.2-5824.
R As used in this chapter, unless the context requires a different meaning:
H "Affiliate" means any person that is owned entirely or in part by the primary team or is an affiliate,Offiliate, exercise any rights or undertake any obligations of the primary team that may be granted or established pursuant to this chapter.
SU "Authority" means the Virginia Football Stadium Authority.
"Campus" means the facility and parcels proximate to the facility on which development is totoSoccur occur and the owners of which have petitioned to the county or city within which the facility is locaDedlocated to include their parcels in the campus.
The county or city, upon receiving a petition from a landownerlandoEner to be included"Facility" inmeans the(i) campus,a professional football stadium, (ii) practice fields or other areas where professional football teams may includepractice suchor parcelsperform, only(iii) byoffices adoptionfor ofthe primary team, (iv) offices, restaurants, concessions, retail and lodging facilities which are owned and operated in connectSon with a resolution.professional football stadium, and (v) any other directly related properties, including onsite and offsite parking lots, garages, and other properties, all located on a site specified by the primary team and consented to by the Authority and the county or city in which the site is located.
"CorporateB income"Naming taxrights revenues" means corporateall income tax revenues asreceived estimated by the Taxprimary Commissionerteam underfor Articlethe 10right (§to 58.1-400name et seq.) of Chapter 3 of Title 58.1 from the primary team or any other professional football teamstadium. or any affiliates thereof based on income generated at the facility campus.
TheS Tax"Operational Commissionerdate" shallmeans calculatethe suchdate revenueson bywhich multiplying the estimatedprimary taxteam paymenthosts ofits anyfirst corporationNational asFootball requiredLeague underregular Articleseason 20game (§at 58.1-500 et seq.) of Chapter 3 of Title 58.1S generating income as described herein by the ratioprofessional offootball theirstadium. gross revenues from the activities as described herein to gross revenues from all activities in Virginia.
2I "Facility""Person" means (i) a professionalperson footballas stadium,defined (ii) practice fields or other areas whEre professional football teams may practice or perform, (iii) offices for the primary team, (iv) o1fices, restaurants, concessions, retail and lodging facilities which are owned and operated in connection§ with1-230, aexcept professionalthat football stadium, and (v) any other directly related properties, including onsite and offsite 36 parking lots, garages, and other properties, all located on a site specified by the primaryterm teamdoes andnot 38include con"Fund" means the Virginia: Football Stadium Authority Financing Fund.is located.
3936 "Pass-throughCommonwealth entityor taxany revenues" means income tax revenues as estimated by the Tax Commissioner 40 according to the provisions of Articleits 9political (§subdivisions 58.1-390.1or et seq.) of Chapter 3 of Title 58.1 from any pass-throughagency entity,or asinstrumentality definedthereof. in § 58.1-390.1, generated at the facility and also including revenues generated in connection with the development and construction of the campus.
"PerformingT arts38 venue"facility.ry team" means anythe buildingprofessional orfootball structureteam whichthat is locatedor onwill be the campusprincipal anduser whereofUthe activities39 occur,"Professional includingfootball performances,stadium" exhibitions,means concerts,a presentations,football andstadium events,capable whetherof livehosting or virtual, are conducted or presented for the publichome includinggames amphitheaters,of concerta halls,40 theaters,professional arenas,football orteam. other similar facilities.
CommonwealthT or"Professional anyfootball ofteam" itsmeans politicala subdivisionsNational orFootball anyLeague agencyteam. or instrumentality thereof.
"PersonalE income"Sales tax revenues" means personal income tax revenuescollections asunder estimated by the TaxVirginia CommissionerRetail fromSales individualsand underUse ArticleTax 2Act (§ 58.1-32058.1-600 et seq.)seq.), ofas Chapterlimited 3herein, of Title 58.1 based on salaries, wages, and other income generated throughby employmenttransactions ortaking theplace conductin of a trade or business within the facility and anyon performingthe artscampus. venue, including without limitation, such taxes collected from a primary team's or any other professional football team's players, coaches, and office personnel;
personnelFor employedpurposes byof anthis affiliatechapter, or"sales othertax operatorrevenues" does not include the revenue generated by (i) Assembly of enterprises1986, withinSpecial Session I, which shall be paid into the facilityCommonwealth andTransportation anyFund performingas artsdefined venue;in § 33.2-1524;
and personnel involved in the development and construction of the facility and any performing arts venue.
The Tax Commissioner shall calculate such revenues by multiplying wages and"Primary team" means the professional football team that is or will be the principal user of the facility.
SB727ES1 2 of 8 "Professional football stadium" means a football stadium capable of hosting the home games of a professional football team.
"Professional football team" means a National Football League team.
"Sales tax revenues" means tax collections under the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.), as limited herein, generated by transactions taking place in the facility and on the campus, including transactions generating revenues in connection with the development and construction of the facility and of the campus.
For purposes of this chapter, "sales tax revenues" does not include the revenue generated by (i) the one-half percent sales and use tax increase enacted by Chapters 11, 12, and 15 of the Acts of Assembly of 1986, Special Session I, which shall be paid into the Commonwealth Transportation Fund as defined in § 33.2-1524;
(iii) the additional state sales and use tax in certain counties and citiescitSes assessed pursuant to Chapter 766 of the Acts of Assembly of 2013 and any amendments thereto;
(iv) the 7 additional state sales and use tax in certain counties and cities assessed pursuant to subsectionsubsecti7n B of §counties 58.1-603.1 and subsectioncities B of historic significance imposed under § 58.1-604.01;58.1-603.2;
(v)(vi) the additionallocal state sales anda1d use tax inimposed certainunder counties§§ 58.1-605 and cities58.1-606, ofunless historicremitted significanceto imposedthe Authority under the provisions of subsection B of § 58.1-603.2;15.2-5837;
(vi)and (vii) the local sales and use tax imposed under §§ 58.1-60558.1-605.1 and 58.1-606,58.1-606.1 unlessand remittedused tofor the Authorityconstruction underor therenovation provisions of subsectionschools. B of § 15.2-5837;
(vii) the local sales and use tax imposed under §§ 58.1-605.1 and 58.1-606.1 and used for the construction or renovation of schools;
and (viii) any state sales and use tax generated from online sales not directly related to the hosting of games and activities at the facility.
It shall be the principal duty of SB727H1 2 of 7 the Authority to ensure the financial viability of the facility and to service the bonds issued by the Authority.
Special meetings of 8 of the Authority shall be held when requested by two or more members of the Authority.
No matter not specified in the notice shall be con§considered 15.2-5828.at such special meeting unless all the members of the Authority are present.
§ 15.2-5828.
duties.ersduties. of the Authority are present.
E B.
N 2.
Approve all accounts for salaries, per diem payments, and allowable expenses of the AuthoGityAuthority and its independent contractors and approve all expenses incidental to the operation of the Authority;
and 3.
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O In addition to the powers set forth elsewhere in this chapter, the Authority may:
S 2.
S 3.
Maintain an office at such place as the Authority may designate solely for purposes of carrying out5.out the duties of the Authority;
Employ,5. as independent contractors, consultants, accountants, attorneys, and financial experts and agents as may be necessary in the judgment of the Authority to carry out its responsibilities as outlined in this chapter, and fix their compensation;
Employ, as independent contractors, consultants, accountants, attorneys, and financial experts and of 7 in this chapter, and fix their compensation;f the Authority to carry out its responsibilities as outlined 6.
Proceed with any undertaking and enter into any contracts or agreements with the Commonwealth or any political subdivision thereof or any person as the Authority deems necessary or desirable to carry out the provisions of this chapter related to development of the facility, provided that any development agreement with the primary team or its affiliate shall comply with subsection ED of § 15.2-5831;17.
BAcquire, hold, lease, use, encumber, transfer, or dispose of real and personal property, including a lease of its property or any interest therein whatever the condition thereof, whether or not constructed or acquired, which is owned by the Authority, to the primary team or its affiliate or other person as deemed necessary or desirable to carry out the provisions of this chapter, provided that any lease of a professional football stadium shall comply with subsection FE of § 15.2-5831.
The Commonwealth and any of its political subdivisions are also authorized to acquire or lease such property or any interest therein;
however, the Commonwealth shall not enter into any such lease or purchase agreement unlessunlessrest such lease or purchase agreement has first been approved pursuant to subsection B of § 15.2-5830;
and provided further that rent payments under any such lease or purchase agreement shall not exceed the thereto;lshortfall in debt service payments due on the bonds issued to finance such property or improvements 8.thereto;
FundO capitalrequested expendituresby for the facilityprimary team or its affiliate;y constructed and maintained pursuant to this chapterchUpter as requested9. by the primary team or its affiliate;
9.
provided, however, that such capital expenditures shall be S implemented by the primary team or its affiliate;
11.E issuing debt and funding the capital expenditures for the facility.
EmploySuch independent contractors asshall necessarybe to assist the Authority in its responsibilities of paid only from moneys appropriated or received by the Authority from the Fund or that are otherwiseallotherwise be related to the facility;
S 12.
and 13.U § 15.2-5830.
Do all things necessary or convenient to carry out the powers granted by this chapter.
§ 15.2-5830.
review by State Treasurer.Treasurer.wers granted by this chapter.
B A.
The Commonwealth shall not enter into any purchase agreement, lease agreement, lease-purchaselease-purcSase agreement, master lease agreement, or any other contractual arrangement proposed by the Authority Commonwealththat supportedcreates bya statedirect revenues.cialor contingent financial obligation of the Commonwealth or creates debt of the B.Commonwealth supported by state revenues.
TheI State Treasurer shall be provided with copies of all documents relating to (i) the proposed SB727ES1 4 of 8 issuance of any bonds pursuant to § 15.2-5832, including a detailed plan of the method of funding and the economic necessity of the proposed facility acquisition or construction, and (ii) any purchase agreement, lease agreement, lease-purchase agreement, master lease agreement, or any other U contractual agreement described in subsection A sufficiently in advance of such bond issue or agreementaTreement to conduct such reviews as the State Treasurer deems necessary to determine if the bond issue or agreement creates a direct or contingent financial obligation of the Commonwealth or creates debt of the Commonwealth supported by state revenues.
If the State Treasurer finds that the proposed bond of issue or agreement would create a direct or contingent financial obligation of the Commonwealth or creates debt of the Commonwealth supported by state revenues, the Authority shall not be authorized to issue such bonds or enter into such agreement.
A.personal property, or interests in property, necessary or convenient to construct or operate the facility.
The Authority may acquire or otherwise use in its own name, by gift or purchase, any real or personal property, or interests in property, necessary or convenient to construct or operate the facility.
2 C.
The Authority shall negotiate and enter into a development agreement for the facility, andanH lease of thethe1. professional football stadium, that comply with subsections D and E if the Authority:
1.
and 1 2.
E.D.
Any development agreement for the facility entered into by the Authority with the primary team or its affiliates shall require the location, design, fit, and finish of the facility to be consistent with SB727H1 4 of 7 professional football facilities approved for construction by the National Football League.
and 4.
Contain such other terms as deemed necessary and appropriate by the Authority and agreed to by the primary team and its affiliates that further the purposes of the Authority related to the financing of the facility.facility;
F.5.
Provide that the primary team will pay at least 50 percent of any naming rights revenues to the Authority, annually or more frequently, until the Authority has paid off the principal, interest, and any other financing costs of all bonds issued under this chapter;
and 6.
Provide that if the primary team relocates after the operational date but before the expiration date of any lease entered into under subsection E, the primary team will pay any outstanding principal, interest, and any other financing costs of all bonds issued under this chapter.
E.
Have a term of at least 3020 years;
and 6.
Contain such other terms and conditions as deemed necessary and appropriate by the Authority and agreed to by the primary team and its affiliates.affiliates;
7.
Provide that the primary team will pay at least 50 percent of any naming rights revenues to the Authority, annually or more frequently, until the Authority has paid off the principal, interest, and any other financing costs of all bonds issued under this chapter;
and 8.
Provide that if the primary team relocates after the operational date but before the expiration date of any lease entered into under this subsection, the primary team will pay any outstanding principal, interest, and any other financing costs of all bonds issued under this chapter.
of 8 2.
and4. C.
Proceeds of refunding bonds;
and 5.
Any naming rights revenues received pursuant to this chapter.
C.
Be issued at, above, or below par value, for cash or other valuable consideration, and mature at a time or times, whether as serial bonds or as term bonds or both, not exceeding 3020 years from Eheirtheir respective dates of issue;
2.of 7 resolution or trust agreement;ed or variable rate or rates determined by the method provided in the 3.
BearBe interestpayable at thea fixedtime or variabletimes, ratein orthe ratesdenominations determinedand byform, and carry the methodregistration providedand inNtheprivileges as to conversion and for the replacement of mutilated, lost, or destroyed bonds as the resolution or trust agreement;agreement may provide;
G4. privileges as to conversion and for the replacement of mutilated, lost, or destroyed bonds as thed resolution or trust agreement may provide;
R 4.
Oresolution 5.or trust agreement provides;se, payment, redemption, refunding, or refinancing that the 6.
Be subjectexecuted toby the termsmanual ofor purchase,facsimile payment,signatures redemption,of refunding,the orofficers refinancingof that the resolutionAuthority ordesignated trustby agreementthe provides;Authority.
S 6.
Be executed by the manual or facsimile signatures of the officers of the Authority designSted by the Authority.
Be sold in the manner and upon the terms determined by the Authority, including private Enegotiated negD.sale.
Anythe resolutionholders orof trustthe agreementbonds as to:greement may contain provisions that shall be a part of the contract with the1. holders of the bonds as to:
1.
H 2.
3.and restrictions to investments of such proceeds or revenues available to pay debt service;
LimitationsappUied on4. the purpose to which the proceeds of sale of any issue of bonds may be applied and restrictions to investments of such proceeds or revenues available to pay debt service;
BLimitations on the issuance of additional bonds and the terms upon which additional bonds may be issued and secured and may rank on a parity with, or be subordinate or superior to, other bonds;boSds;
7 6.
The procedure, if any, by which the terms of any contract with bondholders may be alteredalteredEor orconsent amendedshall andbe thegiven;of amount of bonds the holders of which must consent thereto, and the manner in which consent7. shall be given;
7.Defining the acts or omissions which shall constitute a default in the duties of the Authority to bondholders and providing the rights or remedies of such holders in the event of a default whicS may include provisions restricting individual right of action by bondholders;
Defining8. the acts or omissions which shall constitute a default in the duties of the Authority to bondholders and providing the rights or remedies of such holders in the event of a default which may include provisions restricting individual right of action by bondholders;
theProviding benefitfor guarantees, pledges of bondholders;property, letters of credit, or other security, or iUsurance for the9.
and pledges of property, letters of credit, or other security, or insurance for 9.
B E.
No member of the Authority nor any person executing the bonds on behalf of the Authority shallShall be liable personally for the bonds or subject to any personal liability by reason of the issuance of the bonds.
T F.
The Authority may enter into agreements with agents, banks, insurers, or others for the purposepIrpose of enhancingenhG. the marketability of, or as security for, its bonds.
G.A pledge by the Authority of revenues as security for an issue of bonds shall be valid and binding from the time the pledge is made.
AThe pledgerevenues bypledged theshall Authorityimmediately ofbe revenuessubject asto securitythe forlien an issue of bondsthe shall be valid and binding pledge without any physical delivery or further act, and the lien of any pledge shall be valid and the binding against any person having any claim of any kind in tort, contract or otherwise against theThe Authority, irrespective of whether the person has notice.
No resolution, trust agreement or financing statement, continuation statement, or other instrument adopted or entered into by the Authority need be filed or recorded in any public record other than the records of the Authority in order to perfect thethee lien against third persons, regardless of any contrary provision of public general or public local law.
Except to the extent restricted by an applicable resolution or trust agreement, any holder of bonds issued under this chapter or a trustee acting under a trust agreement entered into under this thechapter, lawsmay, ofby Virginiaany orsuitable byform anyof applicablelegal resolutionproceedings, orprotect trustand agreement.orceenforce any rights granted under I.theI.
The Authority may issue bonds to refund any of its bonds then outstanding, including the payment SB727ES1 6 of 8 of any redemption premium and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase or maturity of the bonds, but only with the consent of the primary team.
Refunding bonds may be issued for the public purposes of realizing savings in the effective costscos2s of debt service, directly or through a debt restructuring, for alleviating impending or actual default andHnd may be issuedissJ. in one or more series in an amount in excess of that of the bonds to be refunded.
J.The primary team shall agree, as part of any development agreement entered into under 1 subsection D of § 15.2-5831 and as part of any lease agreement entered into under subsection E of § 15.2-5831, that the primary team will not be relocated and that the primary team will operate within the facility until any bonds issued hereunder to finance and refinance the facility are redeemed or defeased.
The primary team shall agree that the primary team will not be relocated and that the primary team will operate within the facility until any bonds issued hereunder to finance and refinance the facility are redeemed or defeased.
When such bonds are redeemed or defeased, the entitlement to revenues pursuant to subsections A and D of § 15.2-5837 shall cease.
In addition to satisfying its financing obligations under any development agreement entered into SB727H1 6 of 7 pursuant to subsection ED of § 15.2-5831, the Authority shall use best efforts to issue bonds to finance capital improvements in the facility at such times, in such principal amounts and with such terms to maturity, subject to the limitations of subdivision C 1, as may be requested by the primary team to develop, construct, expand, repair, and maintain the facility.
The Authority shall be entitled, subject to appropriation and to the limitations of this chapter, to of 8 all sales tax revenues.
SuchThe revenuesentitlement shall bebegin appliedon forthe anyprofessional purposesfootball thatstadium's theoperational Authoritydate deemsand appropriateshall forterminate on the facility,earlier includingof (i) 20 years after the paymentoperational ofdate debtor service(ii) the date on which the Authority'sAuthority bonds.has paid off the principal, interest, and any other financing costs of all bonds issued under this chapter.
Revenues received under this subsection shall be applied to any purposes that the Authority deems appropriate for the facility, including the payment of debt service on the Authority's bonds.
The State Comptroller shall make such remittances to the Fund, as provided herein, notwithstanding any provisions to the contrary in the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.).
B.of 7 or resolution, that all local sales and use tax revenues generated by transactions taking place upon the premises of the facility or on the campus from taxes levied pursuant to §§ 58.1-605 and 58.1-606 shall be remitted by such locality to the Authority for any purposes of the Authority.
TheSuch localremittances governingshall bodybe offor the localitysame inperiod which the facility is located may direct, by ordinance or resolution, that all local sales and useunder tax revenues generated by transactions taking place upon the premisessame ofconditions theas facilityremittances or on the campus from taxes levied pursuant to §§ 58.1-605 and 58.1-60E shall be remitted by such locality to the Authority forpaid anyin purposesaccordance ofwith thesubsection Authority.A, mutatis mutandis.
Suchlocal remittancesgoverning shallbody beof the locality in which the facility is located may direct, by ordinance ory, the resolution, any other taxes or funds available to it for the samerepayment periodof bonds, facility operating expenses or capital expenditures, and underother purposes of the sameAuthority, conditionsincluding asany remittancestax toincrement financing on the Authoritycampus paidand any other revenues approved by the local governing body of the locality in Nwhich accordancethe withfacility subsectionis A,located, mutatisincluding mutandis.admissions taxes, transient occupancy taxes, and any other taxes imp§ 15.2-5838.
G local governing body of the locality in which the facility is located may direct, by ordinance ory, the resolution, any other taxes or funds available to it for the repayment of bonds, facility operating expenses or capital expenditures, and other purposes of the Authority, including any tax increment financing on the campus and any other revenues approved by the local governing body of the locality in which the facility is located, including admissions taxes, transient occupancy taxes, and any other taxes imposed by the locality.
S D.
The Authority shall be entitled, subject to appropriation and to the limitations of this chapter, to all personal income tax revenues, corporate income tax revenues, and pass-through entity tax revenues.
including the payment of debt service on the Authority's bonds.
The State Comptroller shall remit ally, such state tax revenues to the Fund on a quarterly basis, subject to such reasonable processing delays as may be required by the Department of Taxation.
Such entitlement shall continue as necessary to cover eligible expenses of the Authority.
[ E.
Nothing in this chapter shall be construed to entitle the Authority to any tax revenues generated pursuant to a permit to operate a sports betting platform awarded pursuant to subdivision D 4 or 5 of § 58.1-4032 to a professional football team that is the principal user of the facility.
In addition, no such football team shall be entitled to more than one permit to operate a sports betting platform puBsuant to Art§ 15.2-5838.
No bonds issued pursuant to § 15.2-5832 shall pledge the full faith and credit of the Commonwealth, norBondholders shall suchhave bondsno constituterecourse awhatsoever debtagainst of the Commonwealth andfor shallthe sopayment stateof princUpal, interest, or redemption premium, if any, on theirsuch face.bonds.
Bondholders§ shall15.2-5839. have no recourse whatsoever against the Commonwealth for the payment of principal, interest, or redemption premium, if any, on such bonds.
TheCooperation Authoritybetween maythe enterAuthority intoand agreements with any other political subdivisionsubdivisions. of the Commonwealth for joint or cooperative action in accordance with § 15.2-1300.
S The Authority may enter into agreements with any other political subdivision of the Commonwealth for joint or cooperative action in accordance with § 15.2-5840.15.2-1300.
TortE liability.No pecuniary liability of any kind shall be imposed on the Commonwealth or on any other political subdivision of the Commonwealth because of any act, agreement, contract, tort, malfeasance or nonfeasance by or on the part of the Authority, its independent contractors, or its agents.
NoS pecuniary§ liability15.2-5841. of any kind shall be imposed on the Commonwealth or on any other political subdivision of the Commonwealth because of any act, agreement, contract, tort, malfeasance or nonfeasance by or on the part of the Authority, its independent contractors, or its agents.
§ 15.2-5841.
For purposes of Article 18.1 (§ 8.01-195.1 et seq.) of Chapter 3 of Title 8.01, the AuthorityAuthoritU is an within the meaning of such section.01-195.2, and each of its members and agents is an "employee""employeeB § 15.2-5842.
S It is hereby found, determined, and declared that the construction and development of the facility will result in substantial economic development in the Commonwealth and is in all respects for the benefit of the people of the Commonwealth and is a public purpose and that the Authority will be performingperforminI an essentialess§ government15.2-5843. function in the exercise of the powers conferred by this chapter.
§Audits 15.2-5843.and reports.e exercise of the powers conferred by this chapter.
Audits and reports.
The Auditor of Public Accounts of the Commonwealth, and his legally authorized representatives, is hereby authorized and empowered from time to time to examine the accounts and books of the U Authority, including its receipts, disbursements, contracts, leases, investments, and any otherotherTmatters matters relating to its finances, operation, and affairs.
SB727ES1Committee, 8Chairman of 8the B.House Finance Committee, and the Chairman of the House Appropriations Committee, before July 1 of each year, the amount of the entitlement pursuant to § 15.2-5837.
The Tax Commissioner shall report to the Chairman of the Senate Finance and Appropriations Committee, Chairman of the House Finance Committee, and the Chairman of the House Appropriations Committee, before July 1 of each year, the amount of the entitlement pursuant to § 15.2-5837.
§ 15.2-5845.
Exemption of Authority from personnel and procurement procedures.
B 2.
That the provisions of this act shall expire if the Virginia Football Stadium Authority 2 established under § 15.2-5825 of the Code of Virginia, as created by this act, has not entered Hnto a by this act, and a lease agreement pursuant to subsection E of § 15.2-5831 of the Code of Virginia, as created by this act, before July 1, 2025.
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Action History
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Continued to 2022 Sp. Sess. 1 pursuant to HJR455
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Continued to 2022 Sp. Sess. 1 pursuant to HJR455
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Impact statement from DPB (SB727H1)
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Impact statement from DPB (SB727H1)
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Conferees appointed by House
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Conferees appointed by Senate
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Senate acceded to request (30-Y 10-N)
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House requested conference committee
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House insisted on substitute
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House substitute rejected by Senate (0-Y 40-N)
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VOTE: Passage (54-Y 46-N)
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Passed House with substitute (54-Y 46-N)
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Engrossed by House - committee substitute SB727H1
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Committee substitute agreed to 22106884D-H1
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Read third time
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Conferees appointed by House
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Conferees appointed by Senate
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Senate acceded to request (30-Y 10-N)
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House requested conference committee
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House insisted on substitute
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House substitute rejected by Senate (0-Y 40-N)
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VOTE: Passage (54-Y 46-N)
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Passed House with substitute (54-Y 46-N)
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Engrossed by House - committee substitute SB727H1
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Committee substitute agreed to 22106884D-H1
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Read third time
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Passed by for the day
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Passed by for the day
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Read second time
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Read second time
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Committee substitute printed 22106884D-H1
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Reported from Appropriations with substitute (16-Y 6-N)
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House committee, floor amendments and substitutes offered
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Committee substitute printed 22106884D-H1
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Reported from Appropriations with substitute (16-Y 6-N)
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House committee, floor amendments and substitutes offered
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Impact statement from DPB (SB727ES1)
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Impact statement from DPB (SB727ES1)
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Referred to Committee on Appropriations
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Read first time
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Placed on Calendar
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Referred to Committee on Appropriations
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Read first time
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Placed on Calendar
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Passed Senate (32-Y 8-N)
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Reconsideration of passage agreed to by Senate (40-Y 0-N)
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Passed Senate (33-Y 7-N)
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Constitutional reading dispensed (40-Y 0-N)
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Printed as engrossed 22106150D-ES1
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Engrossed by Senate - committee substitute with amendment SB727ES1
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Amendment by Senator Newman agreed to
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Reading of amendment waived
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Committee substitute agreed to 22106150D-S1
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Reading of substitute waived
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Read second time
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Passed Senate (32-Y 8-N)
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Reconsideration of passage agreed to by Senate (40-Y 0-N)
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Passed Senate (33-Y 7-N)
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Constitutional reading dispensed (40-Y 0-N)
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Printed as engrossed 22106150D-ES1
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Engrossed by Senate - committee substitute with amendment SB727ES1
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Amendment by Senator Newman agreed to
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Reading of amendment waived
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Committee substitute agreed to 22106150D-S1
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Reading of substitute waived
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Read second time
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Passed by for the day
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Passed by for the day
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Constitutional reading dispensed (40-Y 0-N)
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Constitutional reading dispensed (40-Y 0-N)
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Committee substitute printed 22106150D-S1
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Reported from Finance and Appropriations with substitute (14-Y 2-N)
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Committee substitute printed 22106150D-S1
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Reported from Finance and Appropriations with substitute (14-Y 2-N)
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Senate subcommittee amendments and substitutes offered
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Impact statement from DPB (SB727)
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Senate subcommittee amendments and substitutes offered
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Impact statement from DPB (SB727)
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Referred to Committee on Finance and Appropriations
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Presented and ordered printed 22104298D
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Referred to Committee on Finance and Appropriations
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Presented and ordered printed 22104298D
Sponsors
- Richard L. Saslaw · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 147 not signed on · 8 voted No
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (147)
147 members have not signed on to this bill.
Show all 147 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
Roll call published as PDF — view source.
Roll call published as PDF — view source.
Roll call published as PDF — view source.
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 16 | 6 | 0 | 0 |
| Total | 16 | 6 | 0 | 0 |
| % of votes cast | 73% | 27% | 0% | 0% |
How each member voted (22)
| Member | Party | Vote |
|---|---|---|
| Betsy B. Carr | — | Yea |
| Bulova, David L. | — | Nay |
| C.E. Cliff Hayes, Jr. | — | Yea |
| Coyner, Carrie E. | — | Yea |
| David A. Reid | — | Yea |
| Davis, Glenn R. | — | Yea |
| Delores L. McQuinn | — | Nay |
| Emily M. Jordan | — | Yea |
| Fariss, C. Matthew | — | Yea |
| James W. Morefield | — | Yea |
| Knight, Barry D. | — | Yea |
| Luke E. Torian | — | Yea |
| M. Keith Hodges | — | Yea |
| Marshall, Daniel W., III | — | Yea |
| Paul E. Krizek | — | Nay |
| Plum, Kenneth R. | — | Nay |
| Robert S. Bloxom, Jr. | — | Yea |
| Sam Rasoul | — | Nay |
| Scott A. Wyatt | — | Yea |
| Sickles, Mark D. | — | Nay |
| Terry L. Austin | — | Yea |
| Wampler, William C., III | — | Yea |
Roll call published as PDF — view source.
Roll call published as PDF — view source.
Roll call published as PDF — view source.
Roll call published as PDF — view source.
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 40 | 0 | 0 | 0 |
| Total | 40 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (40)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 14 | 2 | 0 | 0 |
| Total | 14 | 2 | 0 | 0 |
| % of votes cast | 88% | 13% | 0% | 0% |
How each member voted (16)
| Member | Party | Vote |
|---|---|---|
| McClellan, Jennifer L. | — | Yea |
| Barker, George L. | — | Yea |
| David W. Marsden | — | Yea |
| Ebbin, Adam P. | — | Nay |
| Edwards, John S. | — | Yea |
| Hanger, Emmett W., Jr. | — | Yea |
| Howell, Janet D. | — | Nay |
| L. Louise Lucas | — | Yea |
| Mamie E. Locke | — | Yea |
| Newman, Stephen D. | — | Yea |
| Norment, Thomas K., Jr. | — | Yea |
| Petersen, J. Chapman | — | Yea |
| R. Creigh Deeds | — | Yea |
| Ruff, Frank M., Jr. | — | Yea |
| Saslaw, Richard L. | — | Yea |
| Vogel, Jill Holtzman | — | Yea |
Subjects
Frequently asked questions
- What does SB 727 do?
- Virginia Football Stadium Authority. Establishes the Virginia Football Stadium Authority as a political subdivision charged with financing the construction of a football stadium and related facilities. The Authority is authorized to hire independent contractors, enter contracts, acquire property, borrow money, and exercise other similar powers. The Authority is exempt from the Personnel Act and the Public Procurement Act. The Authority may issue bonds with a maximum maturity date of 40 years.The bill entitles the Authority to sales tax revenues from transactions at the stadium but would exclude certain revenues that current law dedicates to transportation and education. The bill also entitles the Authority to corporate income tax revenues from football teams that use the stadium and personal income tax revenues from income generated by employment or the conduct of business at the stadium. The Authority receives all corporate income tax revenues but only 4.25 percent of personal income tax revenues. Remaining personal income tax revenues accrue to the general fund.The Authority is made up of nine members appointed by the Governor and subject to confirmation by the General Assembly. Four of the nine members are appointed from a list chosen by the football team that primarily will use the stadium.The bill enables localities to exercise their eminent domain power to acquire property and convey it to the Authority. It also authorizes localities to appropriate tax revenues to the Authority.
- Who sponsors SB 727?
- SB 727 is sponsored by Saslaw, Richard L..
- What is the current status of SB 727?
- This bill died with 2022 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SB 727?
- Track SB 727 free on One Click Politics — get push/email alerts when it moves.
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