AB438: Bill Text

AB438,20,21 229.68 (7) Mortgage Subject to s. 229.682 (10), mortgage, pledge, or otherwise encumber the district's property or funds.

AB438,35 Section 35. 229.68 (8) (d) of the statutes is created to read:

AB438,20,24 229.68 (8) (d) The bonds are issued before the effective date of this paragraph .... [LRB inserts date].

AB438,36 Section 36. 229.68 (8m) of the statutes is created to read:

AB438,21,4 229.68 (8m) Obtain loans under s. 16.09 (5) for purposes described under s. 229.687 (2). Any moneys borrowed or accepted under this subsection shall be deposited into the baseball park facilities improvement segregated fund under s. 229.687.

AB438,37 Section 37. 229.68 (9) of the statutes is amended to read:

AB438,21,9 229.68 (9) Maintain funds and invest the funds in any investment that the district board considers appropriate. After the effective date of this subsection .... [LRB inserts date], to the extent feasible, a district shall contract with the investment board to invest funds held in trust under this subchapter.

AB438,38 Section 38. 229.68 (11) of the statutes is repealed.

AB438,39 Section 39. 229.68 (12) of the statutes is amended to read:

AB438,21,14 229.68 (12) Set standards governing the use of, and the conduct within, its the baseball park facilities in order to promote public safety and convenience and to maintain order.

AB438,40 Section 40. 229.68 (13) of the statutes is amended to read:

AB438,21,18 229.68 (13) Establish and collect fees, and establish shared revenue arrangements or other charges for the use of its the baseball park facilities or for services rendered by the district.

AB438,41 Section 41. 229.68 (15) of the statutes is repealed.

AB438,42 Section 42. 229.68 (16) (intro.) of the statutes is amended to read:

AB438,21,22 229.68 (16) (intro.) Accept Subject to s. 229.682 (10) accept gifts, loans, grants, and other aid, which may be used only for the following purposes:

AB438,43 Section 43. 229.68 (16) (a) of the statutes is amended to read:

AB438,21,25 229.68 (16) (a) Retiring the bonds or other debt used to develop, construct the, improve, repair, or maintain baseball park facilities.

AB438,44 Section 44. 229.6802 of the statutes is created to read:

AB438,22,4 229.6802 Lease and nonrelocation agreements required. The grant under s. 16.09 (3) may not be awarded unless the secretary of administration determines that all of the following apply:

AB438,22,6 (1) Lease. The district has entered into a customary lease arrangement with a professional baseball team that satisfies all of the following:

AB438,22,7 (a) Has a standard term that expires no earlier than December 31, 2050.

AB438,22,10 (b) Requires the professional baseball team to make at least 27 annual deposits in the amount of $300,000 into the baseball park facilities improvement segregated fund under s. 229.687 beginning in 2024.

AB438,22,14 (c) In addition to the deposits under par. (b), requires the professional baseball team to make at least 27 annual deposits in the amount of $1,851,852 into the baseball park facilities improvement segregated fund under s. 229.687 beginning in 2024.

AB438,22,17 (d) In addition to the deposits under pars. (b) and (c), requires the professional baseball team to make at least 27 annual payments in the amount of $1,208,401 to the district beginning in 2024.

AB438,22,24 (e) In addition to the deposits and payments under pars. (b), (c), and (d), requires the professional baseball team, or a 3rd party on the professional baseball team's behalf, to make financial contributions in connection with the development, construction, improvement, repair, and maintenance of the baseball park facilities during the term of the lease in an amount that totals $50,000,000, of which $25,000,000 must be so contributed before January 1, 2037, and requires the team to regularly report to the district all expenditures under this paragraph.

AB438,23,9 (f) Requires the professional baseball team, upon expiration of the lease or termination of the lease as a result of breach by the professional baseball team, to disclaim any interest in moneys of the baseball park facilities improvement segregated fund under s. 229.687 and, upon request of the district, convey and transfer to the district for consideration not to exceed $1 all of the professional baseball team's right and title to the baseball park facilities, except for ancillary improvements constructed or developed by the professional baseball team after the effective date of this paragraph .... [LRB inserts date], without financial contribution from the state or the district.

AB438,23,15 (2) Nonrelocation agreement. The district has entered into a nonrelocation agreement with the professional baseball team that, except as required by the league of professional baseball teams of which the team is a member, requires the professional baseball team to play all of its home games at the baseball park facilities and prohibits the professional baseball team from relocating until expiration or termination of the lease according to its terms.

AB438,23,19 (3) Third-party negotiator. The district has contracted with a 3rd party approved by a two-thirds vote of all current members appointed to the board and eligible to vote on the matter to represent the district in connection with negotiation of the lease and nonrelocation agreements under this section.

AB438,45 Section 45. 229.6805 of the statutes is created to read:

AB438,24,3 229.6805 Facility management. During the term of any lease between the district and a professional baseball team with respect to baseball park facilities, the district shall, at the district's expense, contract with a facility management company or employ an executive director with expertise in managing and operating professional sports facilities and venues similar to the baseball park facilities. The contract shall require the facility management company or executive director to have primary responsibility to manage and supervise the development, construction, improvement, repair, and maintenance of the baseball park facilities.

AB438,46 Section 46. 229.682 (1) of the statutes is amended to read:

AB438,24,8 229.682 (1) Gifts and donations. The district board shall explore and consider ways to solicit and encourage gifts and donations for the development, construction, improvement, repair, and maintenance of baseball park facilities and, to the extent feasible, implement means to solicit such gifts and donations.

AB438,47 Section 47. 229.682 (3) of the statutes is repealed.

AB438,48 Section 48. 229.682 (4) of the statutes is amended to read:

AB438,24,17 229.682 (4) Special ticket provisions. A major league professional baseball team that uses as its home field baseball park facilities that are developed, constructed, improved, repaired, or maintained under this subchapter shall annually designate, for each county that is in the district's jurisdiction, at least one of the team's home games in each of April, May, June, July, August, and September as a discount ticket day for that county, for which residents of that county the state may purchase discounted admission tickets.

AB438,49 Section 49. 229.682 (7) of the statutes is amended to read:

AB438,24,25 229.682 (7) Youth sports organizations. A major league professional baseball team that uses as its home field baseball park facilities that are developed, constructed, improved, repaired, or maintained under this subchapter shall make an annual contribution of at least $20,000 $40,000 to youth sports organizations in this state for the purchase of equipment or the rental or maintenance of athletic facilities that are used by such organizations. The contributions that are required under this subsection may be made in cash or equipment.

AB438,50 Section 50. 229.682 (9) of the statutes is created to read:

AB438,25,6 229.682 (9) Capital spending limitations. After 2045, the district may not initiate any capital project that has an expected life span that exceeds the remaining term of the lease arrangement with a professional baseball team with respect to the district's baseball park facilities. This subsection does not restrict any of the following capital spending:

AB438,25,9 (a) An amount that does not exceed the amount of the professional baseball team's deposits under s. 229.6802 (1) (b) and (c) after 2045 into the baseball park facilities improvement segregated fund under s. 229.687.

AB438,25,14 (b) For purposes related to maintaining the safety of the baseball park facilities or the improvement, repair, maintenance, or replacement of the components and systems necessary to operate the baseball park facilities or to comply with applicable law, insurance requirements, or standards imposed by the professional baseball league of which the professional baseball team is a member.

AB438,51 Section 51. 229.682 (10) of the statutes is created to read:

AB438,25,18 229.682 (10) Borrowing limitations. After the effective date of this subsection ..... [LRB inserts date], the district may not borrow moneys except as provided under s. 229.68 (8m).

AB438,52 Section 52. 229.682 (11) of the statutes is created to read:

AB438,25,21 229.682 (11) Bonding limitations. Except as provided in s. 229.68 (8), the district may not issue bonds.

AB438,53 Section 53. 229.685 (1) of the statutes is amended to read:

AB438,26,2 229.685 (1) The district board shall maintain a special fund into which it deposits only the revenue received from the department of revenue, that is derived from the taxes imposed under subch. V of ch. 77, 2021 stats., and may use this revenue only for purposes related to baseball park facilities.

AB438,54 Section 54. 229.685 (3) of the statutes is created to read:

AB438,26,6 229.685 (3) Annually, the district board shall transfer from a fund funded under sub. (2) to the baseball park facilities improvement segregated fund under s. 229.687 not less than all of the following amounts:

AB438,26,7 (a) Through 2039, $2,200,000.

AB438,26,8 (b) The amount deposited under s. 20.395 (5) (ij).

AB438,55 Section 55. 229.687 of the statutes is created to read:

AB438,26,12 229.687 Baseball park facilities improvement segregated fund. (1) The district shall establish and maintain a baseball park facilities improvement segregated fund. The fund shall consist of all of the following:

AB438,26,13 (a) Moneys borrowed or accepted and deposited under s. 229.68 (8m).

AB438,26,14 (b) Moneys transferred from other district funds under s. 229.685 (3).

AB438,26,16 (c) Moneys deposited by a county or 1st class city under 229.695 and payments made by the department of administration under s. 79.037 (4).

AB438,26,17 (d) Moneys received from the department of administration under s. 16.09.

AB438,26,19 (e) Payments required to be deposited by a professional baseball team under a lease agreement, as specified in s. 229.6802 (1) (b) and (c).

AB438,26,20 (f) All income or interest earned by the investment of moneys of the fund.

AB438,26,22 (2) (a) Subject to par. (b), the district may use moneys deposited into the fund under sub. (1) only for the following purposes:

AB438,26,24 1. The development, construction, improvement, repair, and maintenance of baseball park facilities.

AB438,27,2 2. The district's performance of obligations under any lease with a professional baseball team with respect to baseball park facilities.

AB438,27,3 3. Repayment of loans or moneys accepted under s. 229.68 (8m).

AB438,27,4 4. The district's retention of a 3rd-party negotiator under s. 229.6802 (3).

AB438,27,9 5. After 2030, payment of annual insurance premiums with respect to the ballpark facilities upon the affirmative vote of the district board and solely to the extent that the district board determines that funds held by the district in accounts, other than the baseball park facilities improvement segregated fund under this section, are insufficient to pay the premium in full.

AB438,27,13 (b) The district may not use moneys deposited into the fund under sub. (1) for the development, construction, improvement, repair, or maintenance of any physical structure that was not owned, in whole or in part, operated, or leased by the district on the effective date of this paragraph .... [LRB inserts date].

AB438,27,18 (3) If, for any reason, the professional baseball team notifies the district that the team intends to terminate the lease agreement or the lease is otherwise terminated, no moneys deposited into the fund under sub. (1) may be expended with respect to the baseball park facilities after the date the district receives that notice, except any of the following:

AB438,27,19 (a) Moneys encumbered before receipt of the notice of termination.

AB438,27,24 (b) Moneys expended to maintain the safety of the baseball park facilities or for the improvement, repair, maintenance, or replacement of the components and systems necessary to operate the baseball park facilities or comply with applicable law, insurance requirements, or standards imposed by the professional baseball league of which the professional baseball team is a member.

AB438,28,2 (c) Moneys expended to make interest payments and principal repayments of loans accepted under s. 229.68 (8m).

AB438,28,6 (d) An amount of moneys that does not exceed the amount of the professional baseball team's deposits into the baseball park facilities improvement segregated fund under s. 229.6802 (1) (b) and (c) between the date of any notice of lease termination and the effective date of the termination.

AB438,56 Section 56. 229.69 (4) of the statutes is amended to read:

AB438,28,9 229.69 (4) Grant to the state land or other property, especially dedicated by the grant to use for a professional baseball park facilities.

AB438,57 Section 57. 229.695 of the statutes is created to read:

AB438,28,17 229.695 Obligations of certain political subdivisions. Beginning in 2024, annually, no later than July 1, a county within a district's jurisdiction shall deposit $5,000,000 into the baseball park facilities improvement segregated fund under s. 229.687 and each 1st class city within a district's jurisdiction shall deposit $2,500,000 into the baseball park facilities improvement segregated fund under s. 229.687. This section does not apply after December 31, 2050, or after the aggregate amount of deposits under this section equals $202,500,000, whichever is earlier.

AB438,58 Section 58. 229.71 of the statutes is amended to read:

AB438,29,2 229.71 Dissolution of a district. Subject Upon or after the expiration or termination of all lease arrangements between the district and a professional baseball team with respect to the baseball park facilities, and subject to providing for the payment of its bonds, including interest on the bonds, and the performance of its other contractual obligations, a district may be dissolved by the action of the district board. If the district is dissolved under this section or by action of the legislature, the property of the district shall be transferred to the counties in the jurisdiction, based on the tax revenues derived from each county, as determined by the secretary of administration state.

AB438,59 Section 59. 229.75 (3) of the statutes is amended to read:

AB438,29,11 229.75 (3) Bonds issued by the district shall be secured only by the district's interest in any baseball park facilities, including any interest in a lease with the department of administration under s. 16.82 (7); by income from these facilities; by proceeds of bonds issued by the district and other amounts placed in a special redemption fund and investment earnings on such these amounts; and by the taxes imposed by the district under subch. V of ch. 77, 2021 stats. The district may not pledge its full faith and credit on the bonds and the bonds are not a liability of the district.

AB438,60 Section 60. 229.76 of the statutes is amended to read:

AB438,29,22 229.76 State pledge. The state pledges to and agrees with the bondholders, and persons that enter into contracts with a district under this subchapter, that the state will not limit or alter the rights and powers vested in a district by this subchapter, including the rights and powers under s. 229.68 (15) power to obtain a loan from the department of administration upon the request of the district under s. 16.09 (5), before the district has fully met and discharged the bonds, and any interest due on the bonds, and has fully performed its contracts, including any lease agreement with a professional baseball team with respect to baseball park facilities, unless adequate provision is made by law for the protection of the bondholders or those entering into contracts with a district.

AB438,61 Section 61. 229.80 of the statutes is created to read:

AB438,30,2 229.80 Reporting. The district shall provide on an ongoing basis to the department of administration, the legislative fiscal bureau, and the legislative audit bureau project reports relating to all baseball park facilities and all financial reports of the district.

AB438,62 Section 62. 341.14 (6r) (b) 13. b. of the statutes is amended to read:

AB438,30,13 341.14 (6r) (b) 13. b. Until the date on which the local professional baseball park district board makes a certification to the department under s. 229.685 (2), the remainder after crediting the appropriation account as provided in subd. 13. a. shall be credited to the appropriation account under s. 20.835 (4) (gb). After the date on which the local professional baseball park district board makes a certification to the department under s. 229.685 (2), the The remainder after crediting the appropriation account as provided in subd. 13. a. shall be credited to the appropriation account under s. 20.395 (5) (ij). The department of transportation shall identify and record the percentage of moneys that are attributable to each professional baseball team represented by a plate under par. (f) 60.

AB438,63 Section 63. Nonstatutory provisions.

AB438,30,15 (1) Professional baseball park district board transition.

AB438,30,18 (a) Notwithstanding s. 229.66, the terms of all existing members of a district board of a professional baseball park district created under subch. III of ch. 229 expire on the effective date of this paragraph.

AB438,30,22 (b) Not later than 30 days after the effective date of this paragraph, each appointing authority under s. 229.66 (2) shall appoint the specified members of the district board of a professional baseball park district created under subch. III of ch. 229.