House OKs
rebates to promote tourism
Bill would give back some taxes produced by projects like arena
Associated Press
The state House approved a plan that would allow local governments to receive tax rebates for building sports arenas, civic centers and other tourism-related projects.
The bill, approved by an 82-34 vote, now goes to the Senate for consideration.
The proposal would create a state committee to pass out $20 million in grants to cities and counties to help pay off arenas, convention centers and museums. The grants would be based on the sales and privilege taxes generated by the facilities.
Critics say the bill would put state money toward projects that would be built anyway, creating a hole in future budgets.
"I don't know where all this is going to stop, but we cannot come down here and keep raiding our future revenues," said Rep. Martin Nesbitt, D-Buncombe. "Are we now going to say that it is our priority to build sports arenas and civic centers in the middle of a recession?"
Rep. Beverly Earle, D-Mecklenburg, a primary sponsor of the bill, said the projects it encourages would spur economic growth in the form of surrounding businesses.
"It may cost us some money, but these projects will have to generate money first before they get some money back," Earle said.
The bill caps the total any project could get at $2 million.
The grants would be 25-40 percent of sales and privilege taxes generated by the facilities. The money would have to be used to pay off building costs.
Critics had called earlier versions of the bill, which didn't set the $2 million cap, a way to help Charlotte pay for an NBA arena.
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