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NJ A2354
NJ A2354Facilitates the cooperation between certain major sports and entertainment venues.
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
2010-2011 Regular Session
Bill Summary
This bill facilitates the cooperation between certain major sports and entertainment venues The bill is intended to promote cooperation between the Izod Center in the Meadowlands and the Prudential Center in Newark by allowing them to implement an agreed upon resolution of certain ongoing disputes between them. The venues currently have the authority to increase their charges if they find doing so necessary to preserve and protect employment opportunities in the vicinity of both venues and the region as a whole, and to ensure a funding source for important activities. While the bill does not require these venues to impose any joint venture service charge, the bill does clarify that if the venues determine to impose joint venture service charges, then the amount of any such charge (not to exceed $3 per admission) will, if separately stated, not be subject to sales and use tax.
AI Summary
This bill allows for cooperation between major sports and entertainment venues, specifically the Izod Center in the Meadowlands and the Prudential Center in Newark, by enabling them to establish a separate limited liability company to jointly sponsor and schedule events at both arenas. This joint venture is intended to resolve ongoing disputes and ensure funding for important activities, with the bill clarifying that any "joint venture service charge" imposed on admissions, not exceeding $3 per ticket, will not be subject to sales and use tax if it is separately stated on the purchase document.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Tourism and the Arts Committee (on 02/25/2010)
bill text
bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| Bill | https://www.njleg.state.nj.us/2010/Bills/A2500/2354_I1.HTM | 05/28/2012 |
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