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RE: LeoThread 2025-02-01 15:16

in LeoFinance8 days ago

Part 5/9:

Amidst this backdrop, House Bill 2704 emerged as a potential solution. This bill proposes to capture sales tax revenue generated at the stadium—including from merchandise sales, food, and beverages—as well as income tax from employees, including players. Instead of these tax revenues going into the general funds of local government, they would be redirected to a fund dedicated solely to the upkeep and improvement of Chase Field.

The estimated funds from this initiative could range from $15 to $20 million each year, aggregating over time to a significant sum dedicated to renovations. Notably, the funds can't be used for operational costs such as player salaries—only for renovations that ensure the ballpark's longevity.

Tax Redistribution: Implications of the Bill