The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.
Oct. 5 — Nevada Gov. Brian Sandoval (R) has set Oct. 10 as the date for the Legislature to discuss and possibly vote on a financing plan for a $1.9 billion, 65,000-seat domed football stadium for Las Vegas, according to a statement issued by his office.
State lawmakers will consider one bill that includes recommendations for financing both the stadium and a $1.4 billion convention center expansion.
Construction of the stadium is regarded as essential if the state wishes to carry out its bid to relocate a National Football League team to Las Vegas. The team most prominently mentioned in that discussion is the Oakland Raiders.
The financing plan for the stadium includes a request for $750 million in public funds through a 0.88 percentage-point increase in Clark County’s 12 percent hotel and motel room tax. The recommendation for the convention center expansion includes a 0.5 percentage-point increase in the room tax.
“My staff and I have had extensive discussions with legislative leadership and it’s time for the full body to begin its deliberations on the recommendations” of the committee, Sandoval said in the statement.
“Now is the time to capitalize on the opportunity before us to invest in Nevada’s most foundational industry, tourism, by providing for the infrastructure and public safety needs of the 21st century,” he said.
The governor's office will release a proclamation detailing the agenda on Oct. 9. Issues regarding education and public safety are also expected to be on the agenda.
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