Bill Text: MN SF2593 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Publicly owned stadiums and sports facilities market rate rent requirement
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-04-03 - Referred to Local Government and Elections [SF2593 Detail]
Download: Minnesota-2011-SF2593-Introduced.html
1.2relating to sports; requiring market rate rent for publicly owned stadiums and
1.3sports facilities serving a professional sports franchise;proposing coding for new
1.4law in Minnesota Statutes, chapter 473.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [473.775] RENT AT PUBLICLY OWNED STADIUMS.
1.7Notwithstanding any law, ordinance, or charter provision to the contrary, no
1.8government entity that owns a stadium or sports facility that serves a professional sports
1.9team may charge a rent that is significantly lower than market rates, as determined by a
1.10publicly published market comparison prepared by the government entity, measuring
1.11proposed rents with those charged in other jurisdictions for other publicly owned stadiums
1.12and sports facilities, including an assessment of market conditions. For purposes of this
1.13section, "government entity" means any state agency or political subdivision of the state.
1.14EFFECTIVE DATE.This section is effective the day following final enactment,
1.15and applies to any new rent agreement or lease, or to any renewed or renegotiated rent
1.16agreement or lease entered into on or after that date.
1.3sports facilities serving a professional sports franchise;proposing coding for new
1.4law in Minnesota Statutes, chapter 473.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [473.775] RENT AT PUBLICLY OWNED STADIUMS.
1.7Notwithstanding any law, ordinance, or charter provision to the contrary, no
1.8government entity that owns a stadium or sports facility that serves a professional sports
1.9team may charge a rent that is significantly lower than market rates, as determined by a
1.10publicly published market comparison prepared by the government entity, measuring
1.11proposed rents with those charged in other jurisdictions for other publicly owned stadiums
1.12and sports facilities, including an assessment of market conditions. For purposes of this
1.13section, "government entity" means any state agency or political subdivision of the state.
1.14EFFECTIVE DATE.This section is effective the day following final enactment,
1.15and applies to any new rent agreement or lease, or to any renewed or renegotiated rent
1.16agreement or lease entered into on or after that date.
