SB483,,137137229.682 (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.

SB483,,139139229.682 (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:

SB483,,140140(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.

SB483,,141141(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.

SB483,,143143229.682 (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).

SB483,,145145229.682 (11) Bonding limitations. Except as provided in s. 229.68 (8), the district may not issue bonds.

SB483,,147147229.685 (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.

SB483,,149149229.685 (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:

SB483,,150150(a) Through 2039, $2,200,000.

SB483,,151151(b) The amount deposited under s. 20.395 (5) (ij).

SB483,,153153229.687 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:

SB483,,154154(a) Moneys borrowed or accepted and deposited under s. 229.68 (8m).

SB483,,155155(b) Moneys transferred from other district funds under s. 229.685 (3).

SB483,,156156(c) Moneys deposited by a county or 1st class city under 229.695 and payments made by the department of administration under s. 79.037 (4).

SB483,,157157(d) Moneys received from the department of administration under s. 16.09.

SB483,,158158(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).

SB483,,159159(f) All income or interest earned by the investment of moneys of the fund.

SB483,,160160(2) (a) Subject to par. (b), the district may use moneys deposited into the fund under sub. (1) only for the following purposes:

SB483,,1611611. The development, construction, improvement, repair, and maintenance of baseball park facilities.

SB483,,1621622. The district’s performance of obligations under any lease with a professional baseball team with respect to baseball park facilities.