Amend CSHB 92, Section 334.041, by adding a new subsection
(g) to read as follows:
(g) The municipality or county shall provide that funding
for an approved venue project will derive as follows:
(1) 50% of the funds shall derive from:
(i) Subchapters F, G, and I, Chapter 334 of this Code;
(ii) the naming of an arena, coliseum, stadium, or
other type of area or facility;
(iii) innovative funding concepts such as the sale or
lease of luxury boxes or the sale of licenses for personal seats;
(iv) any other revenue derived from the approved venue
project, including stadium rental payments and revenue from
concessions and parking; and
(v) any dedication or grant of revenue under Section
335.075 of this Code.
(2) 25% of the funds shall derive from Subchapters D, E, and
H, Chapter 334 of this Code and any pledge of tax revenue under
Section 321.508, Tax Code.
(3) at least 25% of funds shall derive from other private
funding sources. If more than 25% of the funds are provided by
private funding sources, the percentages mandated in (g)(1) and
(g)(2) shall be reduced accordingly to total 100% of the funding
for the venue project.
Amend Section 335.071, to add a new subsection (g) to read as
follows:
(g) The district shall provide that funding for an approved
venue project will derive as follows:
(1) 50% of the funds shall derive from:
(i) Subchapters F, G, and I, Chapter 334 of the Code;
(ii) the naming of an arena, coliseum, stadium, or
other type of area or facility;
(iii) innovative funding concepts such as the sale or
lease of luxury boxes or the sale of licenses for personal seats;
(iv) any other revenue derived from the approved venue
project, including stadium rental payments and revenue from
concessions and parking; and
(v) any dedication or grant of revenue under Section
335.075 of this Code.
(2) 25% of the funds shall derive from Subchapters D, E, and
H, Chapter 334 of this Code and any pledge of tax revenue under
Section 321.508, Tax Code.
(3) At least 25% of funds shall derive from other private
funding sources. If more than 25% of the funds are provided by
private funding sources, the percentages mandated in (g)(1) and
(g)(2) shall be reduced accordingly to total 100% of the funding
for the venue project.