5/9/2012, 9:03 PM

Preliminary - Stadium Conference Committee Report (HF 2958)
Note: Negative number represent revenue losses (tax expenditures) or appropriations, positive numbers represent revenue gains or appropriation reductions 2012-13 Fund FY 2013 Biennium FY 2014 FY 2015 1 REVENUES 2 3 Lawful Gambling Taxes 4 Expansion to E-Pulltabs, E-Bingo with New Net Receipts Tax Rate/Structure Changes GF 35,200 35,200 57,900 57,900 5 Subtotal GF 35,200 35,200 57,900 57,900 6 7 8 Sales & Use Tax 9 Exemption Stadium Construction Materials GF (180) (180) (4,700) (8,900) 10 Exemption for Capital Projects for Cities of the First Class for Projects $40 Million or more GF TBD TBD TBD 11 Exemption Stadium Construction Materials Legacy (10) (10) (270) (510) 12 Exemption for Capital Projects for Cities of the First Class Legacy TBD TBD TBD 13 Subtotal GF (180) (180) (4,700) (8,900) 14 Subtotal Legacy (10) (10) (270) (510) 15 16 Gambling Control Board 17 Additional Fees Collected from E- Devices with Increased Gambling Volume SR 1,362 1,362 1,362 1,362 18 Additional Fees Collected with Sports-Themed Tip boards SR 560 560 560 560 19 Subtotal SR 1,922 1,922 1,922 1,922 20 21 22 Public Safety 23 Reimbursement for Background Investigations - Linked Bingo & Sports-Themed Tipboard SR 50 50 24 Subtotal SR 50 50 25 26 Convention Center Taxes & Stadium Authority Operations/Reserve 27 State Recapture of $150 million Debt Service - Minneapolis Share (Revenue Starts FY 2021) GF 28 State Recapture of Operations/Reserve to Stadium Authority (Revenue Starts FY 2021) GF 29 Subtotal 30 31 Other 32 Sales of Commemorative Bricks GF TBD TBD TBD 33 Subtotal GF 34 35 Total General Fund Revenue 35,020 35,020 53,200 49,000 36 Total Special Revenue Fund 1,972 1,972 1,922 1,922 37 Total Legacy Fund (10) (10) (270) (510) 38 Total All Funds 36,982 36,982 54,852 50,412 39 EXPENDITURES 40 41 MMB Debt Service on State Share of Vikings Stadium 42 MMB Debt Service on Appropriation Bonds ($498 million over 30 years) 43 Subtotal 44 45 46 Other 47 Required (0.5%) Dedication for Compulsive Gambling Treatment Grants (DHS) 48 Required (0.5%) Dedication to Gambling Control Board (DHS) 49 Property Tax Exemption for Stadium Site - State Paid PTR (Impact starts in FY19) 50 Grants to the City of St. Paul 51 Gambling Control Board Regulatory Oversight 52 Dept. of Public Safety - Oversight Expenses for Electronic Pull-tabs & Electronic Linked Bingo 53 Subtotal 54 Subtotal 55 56 Convention Center Taxes & Stadium Authority Operations/Reserve 57 Advancement of the Stadium Authority Operations/Reserve (FY 2016 to FY 2020) 58 Subtotal 59 60 Total General Fund 61 Total Special Revenue Fund 62 Total All Funds 63 64 65 66 2014-15 Biennium

115,800 115,800

(13,600) (780) (13,600) (780)

2,724 1,120 3,844

-

-

102,200 3,844 (780) 105,264

GF

0 0

0 0

(30,200) (30,200)

(33,510) (33,510)

(63,710) (63,710)

GF GF GF GF SR SR GF SR

(360) (360) (2,700) (1,219) (250) (3,420) (1,469)

(360) (360) (2,700) (1,219) (250) (3,420) (1,469)

(470) (470) (2,700) (1,219) (250) (3,640) (1,469)

(470) (470) (2,700) (1,219) (250) (3,640) (1,469)

(940) (940) (5,400) (2,438) (500) (7,280) (2,938)

GF (3,420) (1,469) (4,889) (31,600)

(3,420) (1,469) (4,889) (31,600)

(33,840) (1,469) (35,309) (19,360)

(37,150) (1,469) (38,619) (11,850)

(70,990) (2,938) (73,928) (31,210)

TRANSFERS
Deposit into a General Reserve Account

Net Balance (Revenues + Expenditures + Transfers)
503 (10) 503 503 (10) 503 453 (270) 453 453 (510) 453 906 (780) 906

67 General Fund 68 Special Revenue Fund 69 Legacy Fund 70 Total All Funds NOTES : Before bonds are issued, grants may be made to the Stadium Authority for Stadium Costs TBD denotes "To Be Determined".

Prepared by House and Senate Fiscal Staff [file G:\FISCAL\TAXES FOLDER\Stadium\!Vikings 2012\Stadium Agreement_4]

Preliminary - Stadium Conference Committee Report (HF 2958)
Estimated Annual Revenue

Stadium Blink-On Revenues
(1) Gross Receipts Tax on Luxury boxes in the NFL Stadium at 10% ^^^ (2) Sports-Themed Lottery Game 1,000 2,100

Total Blink-On Sources

3,100

^^^Based on the revenue estimate for HF 2810-1E, the gross receipts tax on luxury boxes in the NFL Stadium at 10% is estimated to raise about $1 million/year.

The tax revenue from the following taxes could only be enacted when the new stadium is operational: (1) Gross Receipts Tax on Luxury boxes; and (2) the Stadium Admissions Tax. TBD denotes "To be determined"

Prepared by House and Sente Fiscal Staff 5/9/2012

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