Some of the provisions of the bill are subject to a vote of the registered electors of the district. Therefore, the bill is assessed as having a state and statutory public entity conditional fiscal impact. This bill allows the Metropolitan Football Stadium District to receive state funds from the Colorado Economic Development Fund under the authority of the Economic Development Commission in the Department of Local Affairs. Under current law the commission is authorized to loan or grant moneys from the fund to public or private persons or entities. These loans or grants are not subject to appropriation by the General Assembly.
Any interest earned from loans is to be credited to a special revolving account within the fund.
The amounts of these loans or grants to the district are unknown. The bill allows the board to provide the counties within the district and the City and County of Denver with a benefit of a portion of the revenues other than sales tax revenues and admissions tax revenues during the time the district is collecting the sales or admissions taxes, or for as long as the board determines to be appropriate. Current law limits the time period to the time during which the district is collecting the sales tax. Metropolitan Football Stadium District Impact District revenue. The bill requires the board to enter into an agreement with the franchise requiring the franchise to pay for all costs of the district associated with the election at which the question, as provided in this bill, is submitted to the voters.