District of Columbia Convention Center and Sports Arena Authorization Act of 1995

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``District of 
Columbia Convention Center and Sports Arena Authorization Act of 
1995''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:
Sec. 1. Short title; table of contents.

                       TITLE I--CONVENTION CENTER

Sec. 101. Permitting Washington Convention Center Authority to expend 
          revenues for convention center activities.

                         TITLE II--SPORTS ARENA

Sec. 201. Permitting designated authority to borrow funds for 
          preconstruction activities relating to Gallery Place sports 
          arena.
Sec. 202. Permitting certain District revenues to be pledged as security 
          for borrowing.
Sec. 203. No appropriation necessary for arena preconstruction 
          activities.
Sec. 204. Arena preconstruction activities described.

                TITLE III--WAIVER OF CONGRESSIONAL REVIEW

Sec. 301. Waiver of Congressional review of Arena Tax Payment and Use 
          Amendment Act of 1995.
                       TITLE I--CONVENTION CENTER

SEC. 101. PERMITTING WASHINGTON CONVENTION CENTER AUTHORITY TO EXPEND 
              REVENUES FOR CONVENTION CENTER ACTIVITIES.

    (a) Permitting Expenditure Without Appropriation.--The fourth 
sentence of section 446 of the District of Columbia Self-Government and 
Governmental Reorganization Act (sec. 47-304, D.C. Code) shall not 
apply with respect to any revenues of the District of Columbia which 
are attributable to the enactment of title III of the Washington 
Convention Center Authority Act of 1994 (D.C. Law 10-188) and which are 
obligated or expended for the activities described in subsection (b).
    (b) Activities Described.--The activities described in this 
paragraph are--
        (1) the operation and maintenance of the existing Washington 
    Convention Center; and
        (2) preconstruction activities with respect to a new convention 
    center in the District of Columbia, including land acquisition and 
    the conducting of environmental impact studies, architecture and 
    design studies, surveys, and site acquisition.

                         TITLE II--SPORTS ARENA

SEC. 201. PERMITTING DESIGNATED AUTHORITY TO BORROW FUNDS FOR 
              PRECONSTRUCTION ACTIVITIES RELATING TO GALLERY PLACE 
              SPORTS ARENA.

    (a) Permitting Borrowing.--
        (1) In general.--The designated authority may borrow funds 
    through the issuance of revenue bonds, notes, or other obligations 
    which are secured by revenues pledged in accordance with paragraph 
    (2) to finance, refinance, or reimburse the costs of arena 
    preconstruction activities described in section 204 if the 
    designated authority is granted the authority to borrow funds for 
    such purposes by the District of Columbia government.
        (2) Revenue required to secure borrowing.--The designated 
    authority may borrow funds under paragraph (1) to finance, 
    refinance, or reimburse the costs of arena preconstruction 
    activities described in section 204 only if such borrowing is 
    secured (in whole or in part) by the pledge of revenues of the 
    District of Columbia which are attributable to the sports arena tax 
    imposed as a result of the enactment of D.C. Law 10-128 (as amended 
    by the Arena Tax Amendment Act of 1994 (D.C. Act 10-315)) and which 
    are transferred by the Mayor of the District of Columbia to the 
    designated authority pursuant to section 302(a-1)(3) of the Omnibus 
    Budget Support Act of 1994 (sec. 47-2752(a-1)(3), D.C. Code) (as 
    amended by section 2(b) of the Arena Tax Payment and Use Amendment 
    Act of 1995).
    (b) Treatment of Debt Created.--Any debt created pursuant to 
subsection (a) shall not--
        (1) be considered general obligation debt of the District of 
    Columbia for any purpose, including the limitation on the annual 
    aggregate limit on debt of the District of Columbia under section 
    603(b) of the District of Columbia Self-Government and Governmental 
    Reorganization Act (sec. 47-313(b), D.C. Code);
        (2) constitute the lending of the public credit for private 
    undertakings for purposes of section 602(a)(2) of such Act (sec. 1-
    233(a)(2), D.C. Code); or
        (3) be a pledge of or involve the full faith and credit of the 
    District of Columbia.
    (c) Designated Authority Defined.--The term ``designated 
authority'' means the Redevelopment Land Agency or such other District 
of Columbia government
agency or instrumentality designated by the Mayor of the District of 
Columbia for purposes of carrying out any arena preconstruction 
activities.

SEC. 202. PERMITTING CERTAIN DISTRICT REVENUES TO BE PLEDGED AS 
              SECURITY FOR BORROWING.

    (a) In General.--The District of Columbia (including the designated 
authority described in section 201(c)) may pledge as security for any 
borrowing undertaken pursuant to section 201(a) any revenues of the 
District of Columbia which are attributable to the sports arena tax 
imposed as a result of the enactment of D.C. Act 10-128 (as amended by 
the Arena Tax Amendment Act of 1994 (D.C. Law 10-315)), upon the 
transfer of such revenues
by the Mayor of the District of Columbia to the designated authority 
pursuant to section 302(a-1)(3) of the Omnibus Budget Support Act of 
1994 (sec. 47-2752(a-1)(3), D.C. Code) (as amended by section 2(b) of 
the Arena Tax Payment and Use Amendment Act of 1995).
    (b) Exclusion of Pledged Revenues From Calculation of Annual 
Aggregate Limit on Debt.--Any revenues pledged as security by the 
District of Columbia pursuant to subsection (a) shall be excluded from 
the determination of the dollar amount equivalent to 14 percent of 
District revenues under section 603(b)(3)(A) of the District of 
Columbia Self-Government and Governmental Reorganization Act (sec. 47-
313(b)(3)(A), D.C. Code).

SEC. 203. NO APPROPRIATION NECESSARY FOR ARENA PRECONSTRUCTION 
              ACTIVITIES.

    The fourth sentence of section 446 of the District of Columbia 
Self-Government and Governmental Reorganization Act (sec. 47-304, D.C. 
Code) shall not apply with respect to any of the following obligations 
or expenditures:
        (1) Borrowing conducted pursuant to section 201(a).
        (2) The pledging of revenues as security for such borrowing 
    pursuant to section 202(a).
        (3) The payment of principal, interest, premium, debt 
    servicing, contributions to reserves, or other costs associated 
    with such borrowing.
        (4) Other obligations or expenditures made to carry out any 
    arena preconstruction activity described in section 204.

SEC. 204. ARENA PRECONSTRUCTION ACTIVITIES DESCRIBED.

    The arena preconstruction activities described in this section are 
as follows:
        (1) The acquisition of real property (or rights in real 
    property) to serve as the site of the sports arena and related 
    facilities.
        (2) The clearance, preparation, grading, and development of the 
    site of the sports arena and related facilities, including the 
    demolition of existing buildings.
        (3) The provision of sewer, water, and other utility facilities 
    and infrastructure related to the sports arena.
        (4) The financing of a Metrorail connection to the site and 
    other Metrorail modifications related to the sports arena.
        (5) The relocation of employees and facilities of the District 
    of Columbia government displaced by the construction of the sports 
    arena and related facilities.
        (6) The use of environmental, legal, and consulting services 
    (including services to obtain regulatory approvals) for the 
    construction of the sports arena.
        (7) The financing of administrative and transaction costs 
    incurred in borrowing funds pursuant to section 201(a), including 
    costs incurred in connection with the issuance, sale, and delivery 
    of bonds, notes, or other obligations.
        (8) The financing of other activities of the District of 
    Columbia government associated with the development and 
    construction of the sports arena, including the reimbursement of 
    the District of Columbia government or others for costs incurred 
    prior to the date of the enactment of this Act which were related 
    to the sports arena, so long as the designated authority determines 
    that such costs are adequately documented and that the incurring of 
    such costs was reasonable.

               TITLE III--WAIVER OF CONGRESSIONAL REVIEW

SEC. 301. WAIVER OF CONGRESSIONAL REVIEW OF ARENA TAX PAYMENT AND USE 
              AMENDMENT ACT OF 1995.

    Notwithstanding section 602(c)(1) of the District of Columbia Self-
Government and Governmental Reorganization Act, the Arena Tax Payment 
and Use Amendment Act of 1995 (D.C. Act 11-115) shall take effect on 
the date of the enactment of this Act.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.

Summary: TABLE OF CONTENTS: Title I: Convention Center Title II: Sports Arena Title III: Waiver of Congressional Review District of Columbia Convention Center and Sports Arena Authorization Act of 1995 - Title I: Convention Center - Allows revenues of the District of Columbia to be obligated or expended for operation and maintenance of the existing Washington Convention Center and pre-construction activities with respect to a new convention center in the District of Columbia without prior approval of the Congress. Title II: Sports Arena - Authorizes the designated authority to borrow funds through obligations which are secured by revenues pledged to finance, refinance, or reimburse the costs of specified arena preconstruction activities if it is granted such authority by the District government. Provides that the borrowing of funds must be secured by such pledged revenues of the District which are attributable to the sports arena tax and which are transferred by the Mayor to the designated authority pursuant to the Omnibus Budget Support Act of 1994. Prohibits such debt from: (1) being considered a general obligation debt of the District. (2) constituting the lending of the public credit for private undertakings for purposes of the District of Columbia Self-Government and Governmental Reorganization Act. And (3) being a pledge of, or involve the full faith and credit of, the District. Permits the District and the designated authority to pledge as security for any borrowing undertaken pursuant to this Act any District revenues which are attributable to the sports arena tax, upon the transfer of such revenues by the Mayor to such authority pursuant to the Omnibus Budget Support Act of 1994. Excludes such pledged revenues from the formula used to calculate the annual aggregate limit on the District's debt. Allows the following activities to be carried out without the enactment of appropriations by the Congress: (1) borrowing conducted pursuant to this Act, (2) pledging of revenues as security for such borrowing. (3) payment of principal, interest, premium, debt servicing, contributions to reserves, or other costs associated with such borrowing. And (4) other obligations or expenditures made to carry out any arena preconstruction activity described in this Act. Title III: Waiver of Congressional Review - Makes the Arena Tax Payment and Use Amendment Act of 1995 effective on this Act's enactment .