Virginia HB 559: Norfolk, City of; financing of an arena and facility.

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2020 SESSION

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20102685D

HOUSE BILL NO. 559 

Offered January 8, 2020 

Prefiled January 6, 2020 

A BILL to amend the Code of Virginia by adding in Title 15.2 a 
 chapter numbered 59.3, consisting of sections numbered 15.2-5935 through 15.2-5942, 
 relating to City of Norfolk; financing of an arena and facility. 
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Patron-- Lindsey 

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Referred to Committee on Counties, Cities and Towns 

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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Title 
 15.2 a chapter numbered 59.3, consisting of sections numbered 15.2-5935 through 
 15.2-5942, as follows:

CHAPTER 
 59.3. 

NORFOLK ARENA 
 AND FACILITY. 

� 15.2-5935. 
 Definitions.

As used in this 
 chapter, unless the context requires a different meaning:

"Arena" 
 means an arena or stadium that is located in 
 the City of Norfolk, has a seating capacity 
 of at least 15,000, and (i) 
 is built for the purpose of holding entertainment 
 events and conferences, (ii) is built for 
 the purpose of conducting athletic events, 
 or (iii) is built for the purposes described in clauses (i) and (ii).

"Eligible 
 transactions" means transactions taking 
 place upon the premises of a facility, 
 including (i) transactions 
 generating revenues in connection with the development and 
 construction of a facility that would not be generated but for the existence of 
 the facility and (ii) transactions that occur while a facility 
 is under construction. 

"Facility" 
 means an arena with either related facilities or related 
 properties or both, provided that such related facilities or related properties 
 are both appurtenant to and directly or indirectly benefited by the presence of 
 such arena. "Facility" includes 
 any temporary construction related to the facility.

"Facility 
 site" means real 
 estate purchased for the purpose of constructing a 
 facility.

"Related 
 facilities" means any office, restaurant, concessions, retail, and lodging 
 facilities that are owned and operated adjacent to or in connection with a 
 facility.

"Related 
 properties" means onsite and offsite parking lots and garages.

"Sales and use 
 tax revenues" means tax 
 collections under the Virginia Retail Sales and Use Tax Act (� 58.1-600 et 
 seq.), as limited herein, generated by eligible transactions. 
 For purposes of this chapter, "sales and use 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 Transportation Trust Fund as 
 defined in � 33.2-1524; (ii) the one percent of the state sales and use tax 
 revenue distributed among the counties and cities of the Commonwealth pursuant 
 to subsection D of � 58.1-638 on the basis of school-age population; and (iii) 
 the additional state sales and use tax in cer