Post by pavel on Apr 22, 2016 6:57:33 GMT -6
Nathan Deal signs tax break aimed at landing a Super Bowl for Atlanta
Gov. Nathan Deal signed legislation Thursday aimed at bringing the Super Bowl and other big-ticket events to Atlanta, despite criticism from lawmakers who raised questions about giving sports leagues a lucrative tax break.
House Bill 951 also gives Georgia back-to-school shoppers a sales tax break for a late July weekend and restores an incentive to buy energy efficient products. But the provision that helped splashy sporting events and their team owners sparked the most debate.
Supporters cast the measure, which exempts state and local sales taxes on tickets for the major sporting events, as a necessity to land the Super Bowl and showcase the nearly $1.5 billion Mercedes-Benz Stadium under construction in downtown Atlanta. It also extends a similar break for all-star games, college championships and any other game deemed to qualify as a “major sporting event” by top Deal deputies.
The Atlanta Sports Council, Atlanta Mayor Kasim Reed and Deal said the $10 million or so in Super Bowl ticket revenues it would cost the city and state in tax revenue was a pittance compared to the economic impact of more than $400 million, along with $30 million in direct sales tax revenue, that the big game would generate.
Read more: politics.blog.ajc.com/2016/04/21/nathan-deal-signs-tax-break-aimed-at-landing-a-super-bowl-for-atlanta/
Gov. Nathan Deal signed legislation Thursday aimed at bringing the Super Bowl and other big-ticket events to Atlanta, despite criticism from lawmakers who raised questions about giving sports leagues a lucrative tax break.
House Bill 951 also gives Georgia back-to-school shoppers a sales tax break for a late July weekend and restores an incentive to buy energy efficient products. But the provision that helped splashy sporting events and their team owners sparked the most debate.
Supporters cast the measure, which exempts state and local sales taxes on tickets for the major sporting events, as a necessity to land the Super Bowl and showcase the nearly $1.5 billion Mercedes-Benz Stadium under construction in downtown Atlanta. It also extends a similar break for all-star games, college championships and any other game deemed to qualify as a “major sporting event” by top Deal deputies.
The Atlanta Sports Council, Atlanta Mayor Kasim Reed and Deal said the $10 million or so in Super Bowl ticket revenues it would cost the city and state in tax revenue was a pittance compared to the economic impact of more than $400 million, along with $30 million in direct sales tax revenue, that the big game would generate.
Read more: politics.blog.ajc.com/2016/04/21/nathan-deal-signs-tax-break-aimed-at-landing-a-super-bowl-for-atlanta/