Legislative Update in re Public Finance – Bill # SB1

Read a short update about the legislation related to construction of a Major League Baseball stadium in Nevada. Submitted by Josh Hicks, Chair, Government Affairs & Advocacy Group, McDonald Carano LLP for the Communiqué (Sep. 2023).

By Josh Hicks, Chair, Government Affairs & Advocacy Group,, McDonald Carano LLP

Bill #SB1

SB1 provides a $380 million public financing package for the construction of a Major League Baseball stadium. The package includes a combination of transferable tax credits, county general obligation bonds backed by a sports and entertainment tax district at the stadium site, and county credits. The legislation requires the baseball club to make annual financial contributions and other commitments pursuant to a community benefits agreement and restricts the location of the stadium to the current location of the Tropicana Hotel & Casino. The package is contingent on relocation approval by Major League Baseball.

Effective Date: Varies by section

About the Legislative Updates

This issue of the Communiqué (Sep. 2023) features select updates related to recent legislation passed during the 82nd Session of the Nevada Legislature (2023). Authors were instructed to limit their submissions due to space constraints of the printed publication.

This article was originally published in the Communiqué, the official publication of the Clark County Bar Association, (Sep. 2023). See https://clarkcountybar.org/about/member-benefits/communique-2023/communique-september-2023/

© 2023 Clark County Bar Association (CCBA). All rights reserved. No reproduction of any portion of this issue is allowed without written permission from the publisher. Editorial policy available upon request.

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