Bill > HB1408

This bill establishes funding for community preservation and development authorities, which are entities created to address negative impacts from major public facilities. Starting January 1, 2026, and continuing through January 1, 2027, 30 percent of the state sales tax revenue collected from retail sales at "qualified facilities" will be deposited into a dedicated account for these authorities. A "qualified facility" is defined as an open-air stadium with at least 68,000 seats and 300,000 square feet of event space, or a stadium with at least 47,000 seats for its main use and a retractable roof. The revenue will be split equally between operating and capital subaccounts. The bill also mandates that these authorities report biennially on their plans and impacts, and a legislative review will assess their effectiveness in promoting economic vitality, improving community livability, and addressing housing needs, with the potential to extend the funding if positive outcomes are demonstrated. This act is declared an emergency measure and will expire on January 1, 2037.