As used in this chapter, unless the context requires a different meaning:”Arena” means an arena or stadium with a seating capacity of at least 15,000 proposed to be constructed in the City of Virginia Beach, the purpose of which shall be (i) the conduct of games by a team that is a part of the National Hockey League or National Basketball Association or (ii) the holding of conferences and entertainment events.”Facility” means an arena and any one or more of the following, which are both appurtenant to and directly or indirectly benefited by the presence of such arena or sports franchise: (i) practice facilities or other areas where sports teams may practice or perform; (ii) offices for sports teams or franchises; (iii) any office, restaurant, concessions, retail, and lodging facilities that are owned and operated adjacent to or in connection with an arena or other structure; and (iv) any other directly related properties including, but not limited to, onsite and offsite parking lots, garages, and other properties.”National Basketball Association team” or “Team that is a part of the National Basketball Association” means a team that is part of the National Basketball Association, the National Basketball Association Development League, or the Women’s National Basketball Association.”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 (i) transactions taking place upon the premises of a facility including 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 taking place upon the premises of a temporary facility in connection with games or other activities of a sports franchise conducted at such temporary facility based on the information supplied pursuant to § 15.2-5926. For purposes of this chapter, “sales and use tax revenues” shall not include the revenue generated by (i) the one-half percent sales and use tax increase enacted by the 1986 Special Session of the General Assembly 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, or (iii) any sales and use tax revenues generated by increases or allocation changes imposed by the 2013 Session of the General Assembly.”Sports franchise” means the contractual right granted to any person or persons to own or operate a team that is a part of the National Hockey League or National Basketball Association in a specified location.”Temporary facility” means a facility or arena in which a sports franchise plays its “home” schedule on a temporary basis during the development and construction of an arena.

History

2013, c. 767.