2192-S AMH SHEL ALLE 51

SHB 2192 - H AMD TO H AMD (H-3327.2/97) 755

By Representative Sheldon

     On page 6, line 14 of the striking amendment, after Acenter.@ strike all material through Arevenue.@ on line 19 and insert the following:

AThe public stadium authority and master tenant shall share all revenues derived from permanent seat licenses, suite licenses, and long-term naming rights.  The proportion received by the public stadium authority shall equal the proportion of the financing for the stadium and exhibition center provided for in section 218 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 (8) shall be deposited into the stadium and exhibition center account established under section 214 of this act.  The revenue received by the master tenant for long-term naming rights shall be subject to section 107 of this act.  Except as otherwise provided in this subsection (8), the master tenant shall have the right to retain revenues derived from the operation of the stadium and exhibition center, including revenues from the sublease and uses, license and concession agreements, advertising, and parking.@

EFFECT:  Requires revenues from permanent seat licenses, 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.