SHB 2192 - H AMDS TO H AMD (H-33263.2/97)670

By Representative Sheldon

On page 6, line 18 of the striking amendment, after A(c)@ strike ARevenues@ and insert AExcept as provided in subsection (9) of this section, revenues@

Renumber the remaining subsections consecutively and correct internal references accordingly.

On page 6, after line 27 of the striking amendment insert the following:

A(9) All revenues derived from permanent seat licenses, suite licenses, and long-term naming rights shall be shared by the public stadium authority and master tenant. The proportion received by the public stadium authority shall equal the proportion of the financing for the stadium and exhibition center provided for in sections 210 through 217 of this act, relative to the proportion of the financing provided by the team affiliate. The revenue received by the public stadium authority under this subsection (9) shall be deposited into the stadium and exhibition center account established under section 213 of this act.@

Renumber the remaining subsections consecutively and correct internal references accordingly.

EFFECT: Requires revenues from suite licenses and long-term naming rights to be shared proportionately between the public stadium authority and master tenant, based on the relative amounts the state and team affiliate contributed to the stadium financing. the share the public stadium authority receives is to be deposited into the stadium and exhibition center account.