Senator Dean Johnson, DFL-Willmar, sponsored Senate File 1857. The bill was passed on a 15-12 vote and now goes to the Finance Committee.
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| SF No. 1857 | |
| Committee Hearing Date: Tuesday, May 15, 2001 | |
| Committee: Taxes | |
| Video Coverage: Financing for a new professional baseball stadium | |
| About the Meeting: | |
| The Senate Tax Committee approves a bill to finance a new $300 million
Minnesota Twins major league baseball stadium. The state would provide a
$100 million loan with a below-market interest rate of 3 percent. 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 the state would provide $10 million through sales tax
exemptions on construction materials.
Senator Dean Johnson, DFL-Willmar, sponsored Senate File 1857. The bill was passed on a 15-12 vote and now goes to the Finance Committee. |