HB 906

Abstract

Entitlement to sales tax revenues from certain public facilities; authorized localities and facilities; sunset. Adds the City of Chesapeake to the list of localities that are authorized to issue bonds for the construction of public facilities and retain sales and use tax revenue generated within such facilities to pay off such bonds. The bill adds outdoor amphitheater to the list of authorized public facilities, provided that a locality owns, wholly or partly, and contributes to the construction of such amphitheater, and extends until July 1, 2024, the period of time during which authorized localities may issue bonds for the construction of public facilities and retain sales and use tax revenue generated within such facilities to pay off such bonds. Under current law, such authority expires on July 1, 2020. This bill is identical to SB 163.