The bill was passed and goes to the Tax Committee.
|
Back to Archives - Committee Hearings |
| SF No. 1857 | |
| Committee Hearing Date: Thursday, March 29, 2001 | |
| Committee: State and Local Government Operations | |
| Video Coverage: Financing for a new professional baseball stadium | |
| About the Bill: | |
| The Committee votes on a bill to finance a new $300 million Minnesota Twins
major league baseball stadium. The state would provide a $100 million 20-year
interest-free loan, borrowing it from the Workers' Compensation Assigned
Risk Plan. The Twins organization and other private interests would finance
$150 million. The Metropolitan Council would provide a $40 million grant
through revenue bonds to the host city and an additional $10 million would
come from sales tax exemptions on construction materials. Senator Dean
Johnson, DFL-Willmar, sponsored Senate File 1857.
The bill was passed and goes to the Tax Committee. |