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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-9-150 SO AS TO PROVIDE DEFINITIONS AND TO PROVIDE THAT THE STATE MAY NOT PROVIDE OR OFFER TO PROVIDE PUBLIC FUNDING FOR CERTAIN CONSTRUCTION OR MAINTENANCE OF PROFESSIONAL SPORTS STADIUMS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 9, Title 11 of the 1976 Code is amended by adding:
"Section 11-9-150. (A) For purposes of this section:
(1) 'Professional sports stadium' means a venue that hosts two or more events or practices featuring professional sports teams in a calendar year or practice and development facilities, office space, merchandising facilities, restaurants, or lodging for professional sports teams.
(2) 'Professional sports team' means any team consisting of athletes that receive monetary compensation for participating in sporting events. 'Professional sports team' does not include high school or collegiate teams or teams funded exclusively by organizations holding tax-exempt status under U.S.C. Section 501(c)(3).
(3) 'Public funding' means:
(a) tax incentives that reduce the burden of state or local taxes, including deductions, subtractions, modifications, credits, and exemptions from taxation;
(b) state or local grants, appropriations, authorizations, or expenditures, including the issuance of any state or locally supported debt or any conduit debt issued by a state or local authority;
(c) state or local loans; or
(d) financial assistance in the construction of private infrastructure.
(B) After December 31, 2021, the State or any political subdivision thereof may not:
(1) provide or offer to provide public funding for the construction of a professional sports stadium unless the public funding is otherwise available to all development projects or business entities located in the locality;
(2) utilize public funding for the construction or maintenance of facilities for a professional sports team;
(3) utilize public funding for infrastructure improvements required by a newly constructed professional sports stadium; or
(4) lease or donate land to a professional sports team or an entity affiliated with a professional sports team.
(C) Nothing in this section may be construed to prohibit the State or any political subdivision thereof from constructing, maintaining, or charging reasonable fees for the use of public infrastructure related to a professional sports stadium, including water and sewer systems, electricity generation facilities, and transportation facilities.
(D) Nothing in this section may be construed to repeal any existing contractual obligation incurred by the State or any political subdivision thereof before January 1, 2022."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on January 27, 2021 at 4:49 PM