Vikings Stadium Bill to be Introduced at Capitol Next Week
The Minnesota Vikings will introduce a bill for a new stadium next week at the state capitol.
Two Minnesota lawmakers, Senator Julie Rosen of Fairmont and Representative Morrie Lanning of Moorhead, sent the letter of the stadium details to the Minnesota legislature on Thursday night.
The Vikings only have to play one more season in the Metrodome. The current condition of the Dome also put a sense of urgency on getting the bill passed. While there is still no specific location for a new stadium, wherever(if) it is built, it must have a roof according to the letter.
Here are some of the key elements of the bill-
The state would create revenues sufficient to cover $250 million to $300 million in bonds, which would be sold by local governments — or the Metropolitan Council. In addition, the State of Minnesota would pay for its share with stadium naming rights, a sports memorabilia tax and a pro football player income tax surcharge
Local governments can bid for a new stadium, and cities or counties can raise sales taxes by 0.5 percent.
The Vikings would pay 30% of the cost of building the stadium, and are required to make up any remainder, including cost overruns.