40,42Section 42. 229.68 (8m) of the statutes is created to read: 229.68 (8m) Obtain loans under s. 16.09 (5) for purposes described under s. 229.687 (2). Any moneys borrowed or accepted under this subsection shall be deposited into the baseball park facilities improvement segregated fund under s. 229.687.
40,43Section 43. 229.68 (9) of the statutes is amended to read: 229.68 (9) Maintain funds and invest the funds in any investment that the district board considers appropriate. After the effective date of this subsection .... [LRB inserts date], to the extent feasible, a district shall contract with the investment board to invest funds held in trust under this subchapter.
40,44Section 44. 229.68 (11) of the statutes is repealed. 40,45Section 45. 229.68 (12) of the statutes is amended to read: 229.68 (12) Set standards governing the use of, and the conduct within, its the baseball park facilities in order to promote public safety and convenience and to maintain order.
40,46Section 46. 229.68 (13) of the statutes is amended to read: 229.68 (13) Establish and collect fees, and establish shared revenue arrangements or other charges for the use of its the baseball park facilities or for services rendered by the district.
40,47Section 47. 229.68 (15) of the statutes is repealed. 40,48Section 48. 229.68 (16) (intro.) of the statutes is amended to read: 229.68 (16) (intro.) Accept Subject to s. 229.682 (10) accept gifts, loans, grants, and other aid, which may be used only for the following purposes:
40,49Section 49. 229.68 (16) (a) of the statutes is amended to read: 229.68 (16) (a) Retiring the bonds or other debt used to develop, construct the, improve, repair, or maintain baseball park facilities.
40,50Section 50. 229.6802 of the statutes is created to read: 229.6802 Lease and nonrelocation agreements required. The grant under s. 16.09 (3) may not be awarded unless the secretary of administration determines that all of the following apply:
(1) Lease. The district has entered into a customary lease arrangement with a professional baseball team that satisfies all of the following:
(a) Has a standard term that expires no earlier than December 31, 2050.
(b) Requires the professional baseball team to make at least 27 annual deposits in the amount of $300,000 into the baseball park facilities improvement segregated fund under s. 229.687 beginning in 2024.
(c) In addition to the deposits under par. (b), requires the professional baseball team to make at least 27 annual deposits in the amount of $1,851,852 into the baseball park facilities improvement segregated fund under s. 229.687 beginning in 2024.
(d) In addition to the deposits under pars. (b) and (c), requires the professional baseball team to make at least 22 annual rental payments in the amount of $1,208,401 to the district beginning in 2024 and to make at least 5 annual rental payments in the amount of $3,208,401 to the district beginning in 2046, of which the district shall deposit not less than $2,000,000 of each such payment into the baseball park facilities improvement segregated fund under s. 229.687.
(e) In addition to the deposits and payments under pars. (b), (c), and (d), requires the professional baseball team, or a 3rd party on the professional baseball team’s behalf, to make financial contributions in connection with the development, construction, improvement, repair, and maintenance of the baseball park facilities during the term of the lease in an amount that totals $50,000,000, of which $25,000,000 must be so contributed before January 1, 2037, and requires the team to regularly report to the district all expenditures under this paragraph.
(f) Requires the professional baseball team, upon expiration of the lease or upon termination of the lease as a result of breach by the professional baseball team, to disclaim any interest in moneys of the baseball park facilities improvement segregated fund under s. 229.687 and, upon request of the district, convey and transfer to the district for consideration not to exceed $1 all of the professional baseball team’s right and title to the baseball park facilities, except for ancillary improvements constructed or developed by the professional baseball team after the effective date of this paragraph .... [LRB inserts date], without financial contribution from the state or the district.
(2) Nonrelocation agreement. The district has entered into a nonrelocation agreement with the professional baseball team that, except as required by the league of professional baseball teams of which the team is a member, requires the professional baseball team to play all of its home games at the baseball park facilities and prohibits the professional baseball team from relocating until expiration or termination of the lease according to its terms.
(3) Third-party negotiator. The district has contracted with a 3rd party approved by a two-thirds vote of all current members appointed to the board and eligible to vote on the matter to represent the district in connection with negotiation of the lease and nonrelocation agreements under this section.
40,51Section 51. 229.6805 of the statutes is created to read: 229.6805 Facility management. During the term of any lease between the district and a professional baseball team with respect to baseball park facilities, the district shall, at the district’s expense, contract with a facility management company or employ an executive director with expertise in managing and operating professional sports facilities and venues similar to the baseball park facilities. The contract shall require the facility management company or executive director to have primary responsibility to manage and supervise the development, construction, improvement, repair, and maintenance of the baseball park facilities.
40,52Section 52. 229.682 (1) of the statutes is amended to read: 229.682 (1) Gifts and donations. The district board shall explore and consider ways to solicit and encourage gifts and donations for the development, construction, improvement, repair, and maintenance of baseball park facilities and, to the extent feasible, implement means to solicit such gifts and donations.
40,53Section 53. 229.682 (3) of the statutes is repealed. 40,54Section 54. 229.682 (4) of the statutes is amended to read: 229.682 (4) Special ticket provisions. A major league professional baseball team that uses as its home field baseball park facilities that are developed, constructed, improved, repaired, or maintained under this subchapter shall annually designate, for each county that is in the district’s jurisdiction, at least one of the team’s home games in each of April, May, June, July, August, and September as a discount ticket day for that county, for which residents of that county the state may purchase discounted admission tickets.
40,55Section 55. 229.682 (7) of the statutes is amended to read: 229.682 (7) Youth sports organizations. A major league professional baseball team that uses as its home field baseball park facilities that are developed, constructed, improved, repaired, or maintained under this subchapter shall make an annual contribution of at least $20,000 $40,000 to youth sports organizations in this state for the purchase of equipment or the rental or maintenance of athletic facilities that are used by such organizations. The contributions that are required under this subsection may be made in cash or equipment.
40,56Section 56. 229.682 (9) of the statutes is created to read: 229.682 (9) Capital spending limitations. After 2045, the district may not initiate any capital project that has an expected life span that exceeds the remaining term of the lease arrangement with a professional baseball team with respect to the district’s baseball park facilities. This subsection does not restrict any of the following capital spending:
(a) An amount that does not exceed the amount of the professional baseball team’s deposits under s. 229.6802 (1) (b) and (c) after 2045 into the baseball park facilities improvement segregated fund under s. 229.687.
(b) For purposes related to maintaining the safety of the baseball park facilities or the improvement, repair, maintenance, or replacement of the components and systems necessary to operate the baseball park facilities or to comply with applicable law, insurance requirements, or standards imposed by the professional baseball league of which the professional baseball team is a member.
40,57Section 57. 229.682 (10) of the statutes is created to read: 229.682 (10) Borrowing limitations. After the effective date of this subsection .... [LRB inserts date], the district may not borrow moneys except as provided under s. 229.68 (8m). Notwithstanding anything in this subsection to the contrary, nothing in this subsection precludes the district from entering into long-term performance or service contracts, capital leases, lease purchase agreements utilizing 3rd-party financing, or similar arrangements with respect to the equipping, repair, maintenance, or improvement of baseball park facilities.
40,58Section 58. 229.682 (11) of the statutes is created to read: 229.682 (11) Bonding limitations. Except as provided in s. 229.68 (8), the district may not issue bonds.
40,59Section 59. 229.682 (12) of the statutes is created to read: 229.682 (12) Ticket surcharge. (a) Except as provided in par. (b), the district board shall require that the sponsor of an event held at the baseball park facilities of the district, other than a baseball game involving a professional baseball team that uses the baseball park facilities as its home field, or an exhibition, “All Star,” or other similar event involving professional baseball teams or representatives of other professional baseball teams that are members of the same league as the professional baseball team that uses the baseball park facilities as its home field, impose the following ticket surcharges and deliver the surcharge moneys to the district board:
1. Except as provided in subd. 2., for each ticket that is sold to the event:
a. From 2024 to 2032, a $2 surcharge.
b. From 2033 to 2041, a $3 surcharge.
c. From 2042 to 2050, a $4 surcharge.
2. For each ticket sold that entitles the holder to access a stadium luxury box or suite:
a. From 2024 to 2032, an $8 surcharge.
b. From 2033 to 2041, a $9 surcharge.
c. From 2042 to 2050, a $10 surcharge.
(b) No ticket surcharge under par. (a) may be charged for any of the following categories of events:
1. Events for which the sponsor is a professional baseball team that uses the baseball park facilities as its home field.
2. Events that are not ticketed.
3. Events for which tickets are provided at no charge.
4. Events held to benefit or honor military or law enforcement or other emergency response personnel.
5. Political conventions.
6. Charitable events.
7. Events for which tickets were made available for presale or sale before the effective date of this subdivision .... [LRB inserts date].
(c) The district board shall deposit all surcharge moneys received under par. (a) into the baseball park facilities improvement segregated fund under s. 229.687.
(d) Annually, the district board shall certify to the secretary of administration the amount of surcharge moneys received under par. (a) in the preceding year.
40,60Section 60. 229.685 (1) of the statutes is amended to read: 229.685 (1) The district board shall maintain a special fund into which it deposits only the revenue received from the department of revenue, that is derived from the taxes imposed under subch. V of ch. 77, 2021 stats., and may use this revenue only for purposes related to baseball park facilities.
40,61Section 61. 229.685 (3) of the statutes is created to read: 229.685 (3) Annually, the district board shall transfer from a fund funded under sub. (2) to the baseball park facilities improvement segregated fund under s. 229.687 not less than all of the following amounts:
(a) Through 2039, $2,200,000.
(b) The amount deposited under s. 20.395 (5) (ij).
40,62Section 62. 229.687 of the statutes is created to read: 229.687 Baseball park facilities improvement segregated fund. (1) The district shall establish and maintain a baseball park facilities improvement segregated fund. The fund shall consist of all of the following:
(a) Moneys borrowed or accepted and deposited under s. 229.68 (8m).
(b) Moneys transferred from other district funds under s. 229.685 (3).
(c) Moneys deposited by a county under s. 229.695 and payments made by the department of administration under s. 79.037 (4).
(d) Moneys received from the department of administration under s. 16.09.
(e) Payments required to be deposited by a professional baseball team under a lease agreement, as specified in s. 229.6802 (1) (b) and (c), and the moneys required to be deposited by the district under s. 229.6802 (1) (d).
(f) All income or interest earned by the investment of moneys of the fund.
(g) Ticket surcharge receipts deposited under s. 229.682 (12) (c).
(2) (a) Subject to par. (b), the district may use moneys deposited into the fund under sub. (1) only for the following purposes:
1. The development, construction, improvement, repair, and maintenance of baseball park facilities.
2. The district’s performance of obligations under any lease with a professional baseball team with respect to baseball park facilities.
3. Repayment of loans or moneys accepted under s. 229.68 (8m).
4. The district’s retention of a 3rd-party negotiator under s. 229.6802 (3).
5. After 2030, payment of annual insurance premiums with respect to the ballpark facilities upon the affirmative vote of the district board and solely to the extent that the district board determines that funds held by the district in accounts, other than the baseball park facilities improvement segregated fund under this section, are insufficient to pay the premium in full.
(am) Notwithstanding par. (a), annually on March 3, beginning in the year after the district receives a notification under s. 16.09 (3) (c) 6., the board shall pay from the fund under sub. (1) to the secretary of administration for deposit into the general fund an amount equal to the amount of surcharge moneys received under s. 229.682 (12) (a) in the preceding year.
(b) The district may not use moneys deposited into the fund under sub. (1) for the development, construction, improvement, repair, or maintenance of any physical structure that was not owned, in whole or in part, operated, or leased by the district on the effective date of this paragraph .... [LRB inserts date].
(3) If, for any reason, the professional baseball team notifies the district that the team intends to terminate the lease agreement or the lease is otherwise terminated, no moneys deposited into the fund under sub. (1) may be expended with respect to the baseball park facilities after the date the district receives that notice, except any of the following:
(a) Moneys encumbered before receipt of the notice of termination.
(b) Moneys expended to maintain the safety of the baseball park facilities or for the improvement, repair, maintenance, or replacement of the components and systems necessary to operate the baseball park facilities or comply with applicable law, insurance requirements, or standards imposed by the professional baseball league of which the professional baseball team is a member.
(c) Moneys expended to make interest payments and principal repayments of loans accepted under s. 229.68 (8m).
