Amendment SSA1-AB439

AB439-SSA1,10 Section 10 . 229.68 (intro.) of the statutes is amended to read:

AB439-SSA1,7,22 229.68 Powers of a district. (intro.) A district has all of the powers necessary or convenient to carry out the purposes and provisions of this subchapter, except that it may not incur any new obligations after the date on which the district may no longer collect the tax under s. 77.707 (1), if such an obligation could not be paid out of the district's revenues or assets once the tax under s. 77.707 (1) is no longer collected. The district may not incur costs or any obligations for signage related to a change in naming rights for the baseball park facilities. In addition to all other powers granted by this subchapter, a district may do all of the following:

AB439-SSA1,11 Section 11. 229.68 (7) of the statutes is amended to read:

AB439-SSA1,7,25 229.68 (7) Mortgage Subject to s. 229.682 (10), mortgage, pledge, or otherwise encumber the district's property or funds.

AB439-SSA1,12 Section 12. 229.68 (8) (d) of the statutes is created to read:

AB439-SSA1,8,3 229.68 (8) (d) The bonds are issued before the effective date of this paragraph .... [LRB inserts date].

AB439-SSA1,13 Section 13. 229.68 (11) of the statutes is repealed.

AB439-SSA1,14 Section 14 . 229.68 (12) of the statutes is amended to read:

AB439-SSA1,8,8 229.68 (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.

AB439-SSA1,15 Section 15 . 229.68 (13) of the statutes is amended to read:

AB439-SSA1,8,12 229.68 (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.

AB439-SSA1,16 Section 16 . 229.68 (15) of the statutes is repealed.

AB439-SSA1,17 Section 17. 229.68 (16) (intro.) of the statutes is amended to read:

AB439-SSA1,8,16 229.68 (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:

AB439-SSA1,18 Section 18. 229.68 (16) (a) of the statutes is amended to read:

AB439-SSA1,8,19 229.68 (16) (a) Retiring the bonds or other debt used to develop, construct the, improve, repair, or maintain baseball park facilities.

AB439-SSA1,19 Section 19. 229.6802 of the statutes is created to read:

AB439-SSA1,9,3 229.6802 Contracting requirement. No later than the first day of the 4th month beginning after the effective date of this section .... [LRB inserts date], the district shall enter into an agreement with the professional baseball team under which the professional baseball team assumes the rights, privileges, and responsibilities of ownership of the district's baseball stadium and stadium parking lots, including maintenance, upkeep, and repairs of the baseball stadium and parking lots. The agreement shall provide that if the professional baseball team relocates, the professional baseball team shall do all of the following:

AB439-SSA1,9,5 (1) Relinquish the rights, privileges, and responsibilities of ownership of the baseball stadium and stadium parking lots.

AB439-SSA1,9,7 (2) Convey and transfer to the district all of the professional baseball team's right and title to any baseball park facilities.

AB439-SSA1,9,9 (3) Pay for the cost of demolition of the baseball stadium and other baseball park facilities.

AB439-SSA1,20 Section 20. 229.682 (3) of the statutes is repealed.

AB439-SSA1,21 Section 21. 229.682 (11) of the statutes is created to read:

AB439-SSA1,9,13 229.682 (11) Bonding limitations. Except as provided in s. 229.68 (8), the district may not issue bonds.

AB439-SSA1,22 Section 22. 229.685 (1) of the statutes is amended to read:

AB439-SSA1,9,18 229.685 (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.

AB439-SSA1,23 Section 23 . 229.71 of the statutes is amended to read:

AB439-SSA1,9,25 229.71 Dissolution of a district. Subject Upon or after the expiration or termination of the contract required under s. 229.6802, or if the professional baseball team refuses that contract, subject to providing for the payment of its bonds, including interest on the bonds, and the performance of its other contractual obligations, a district may shall be dissolved by the action of the district board. If the district is dissolved under this section or by action of the legislature, the property of the district shall be transferred to the counties in the jurisdiction, based on the tax revenues derived from each county, as determined by the secretary of administration state.

AB439-SSA1,24 Section 24 . 229.75 (3) of the statutes is amended to read:

AB439-SSA1,10,12 229.75 (3) Bonds issued by the district shall be secured only by the district's interest in any baseball park facilities, including any interest in a lease with the department of administration under s. 16.82 (7); by income from these facilities; by proceeds of bonds issued by the district and other amounts placed in a special redemption fund and investment earnings on such these amounts; and by the taxes imposed by the district under subch. V of ch. 77, 2021 stats. The district may not pledge its full faith and credit on the bonds and the bonds are not a liability of the district.

AB439-SSA1,25 Section 25. Nonstatutory provisions.

AB439-SSA1,10,15 (1) No later than 30 days after the effective date of this subsection, the legislature shall take action to repeal 2023 Assembly Bill 438.

AB439-SSA1,26 Section 26. Effective dates. This act takes effect on the day after publication, except as follows:

AB439-SSA1,10,19 (1) The treatment of s. 77.707 (2) and the repeal of s. 77.707 (1) take effect on January 1, 2025.

AB439-SSA1,10,20 (End)