Latest news with #HB2704
NBC Sports
24-06-2025
- Business
- NBC Sports
Arizona legislature approves bill that would provide up to $500 million for Chase Field renovations
PHOENIX — The Arizona Diamondbacks are one small step from securing up to $500 million to help with renovations to the team's downtown home Chase Field. The Arizona House of Representatives voted to approve House Bill 2704 by a 35-20 margin. It would recapture sales taxes from the stadium and other adjacent buildings over the next 30 years and reinvest them into infrastructure at the retractable roof structure, which has been home to the D-backs since 1998 and is owned by the Maricopa County Stadium District. The only remaining hurdle is for Gov. Katie Hobbs to sign the legislation, and she's been publicly supportive of the bill. 'I'm thrilled that the legislature has passed a bill that will keep the Diamondbacks in Phoenix and create good-paying jobs,' Hobbs said on social media. 'This is a huge win for every Arizonan. I appreciate the bipartisan elected officials and the business and labor leaders who came to the table and worked with my office to make this moment possible.' The Diamondbacks say they will also contribute $250 million of the team's money to help fund renovations. Team president Derrick Hall has said the nearly 30-year-old stadium needs several upgrades, most notably to its air conditioning system, which keeps the stadium cool during Phoenix's brutally hot summer months. The team's current lease with the county expires in 2027. 'We are ecstatic over the legislative approval of HB2704,' Hall said in a statement. 'This will be a monumental victory for baseball and Diamondbacks fans when signed by Governor Katie Hobbs. We could then shift our focus to a proper lease extension negotiation with the Maricopa County Board of Supervisors in hopes of modernizing and renovating this public asset to a level those fans deserve.'
Hamilton Spectator
24-06-2025
- Business
- Hamilton Spectator
Arizona legislature approves bill that would provide up to $500 million for Chase Field renovations
PHOENIX (AP) — The Arizona Diamondbacks are one small step from securing up to $500 million to help with renovations to the team's downtown home Chase Field. The Arizona House of Representatives voted to approve House Bill 2704 by a 35-20 margin on Monday. It would recapture sales taxes from the stadium and other adjacent buildings over the next 30 years and reinvest them into infrastructure at the retractable roof structure, which has been home to the D-backs since 1998 and is owned by the Maricopa County Stadium District. The only remaining hurdle is for Gov. Katie Hobbs to sign the legistation, and she's been publicly supportive of the bill. 'I'm thrilled that the legislature has passed a bill that will keep the Diamondbacks in Phoenix and create good-paying jobs,' Hobbs said on social media Monday . 'This is a huge win for every Arizonan. I appreciate the bipartisan elected officials and the business and labor leaders who came to the table and worked with my office to make this moment possible.' The Diamondbacks say they will also contribute $250 million of the team's money to help fund renovations. Team president Derrick Hall has said the nearly 30-year-old stadium needs several upgrades, most notably to its air conditioning system, which keeps the stadium cool during Phoenix's brutally hot summer months. The team's current lease with the county expires in 2027. 'We are ecstatic over the legislative approval of HB2704,' Hall said in a statement. 'This will be a monumental victory for baseball and Diamondbacks fans when signed by Governor Katie Hobbs. We could then shift our focus to a proper lease extension negotiation with the Maricopa County Board of Supervisors in hopes of modernizing and renovating this public asset to a level those fans deserve.' ___ AP MLB:
Fox Sports
24-06-2025
- Business
- Fox Sports
Arizona legislature approves bill that would provide up to $500 million for Chase Field renovations
Associated Press PHOENIX (AP) — The Arizona Diamondbacks are one small step from securing up to $500 million to help with renovations to the team's downtown home Chase Field. The Arizona House of Representatives voted to approve House Bill 2704 by a 35-20 margin on Monday. It would recapture sales taxes from the stadium and other adjacent buildings over the next 30 years and reinvest them into infrastructure at the retractable roof structure, which has been home to the D-backs since 1998 and is owned by the Maricopa County Stadium District. The only remaining hurdle is for Gov. Katie Hobbs to sign the legistation, and she's been publicly supportive of the bill. 'I'm thrilled that the legislature has passed a bill that will keep the Diamondbacks in Phoenix and create good-paying jobs,' Hobbs said on social media Monday. 'This is a huge win for every Arizonan. I appreciate the bipartisan elected officials and the business and labor leaders who came to the table and worked with my office to make this moment possible.' The Diamondbacks say they will also contribute $250 million of the team's money to help fund renovations. Team president Derrick Hall has said the nearly 30-year-old stadium needs several upgrades, most notably to its air conditioning system, which keeps the stadium cool during Phoenix's brutally hot summer months. The team's current lease with the county expires in 2027. 'We are ecstatic over the legislative approval of HB2704,' Hall said in a statement. 'This will be a monumental victory for baseball and Diamondbacks fans when signed by Governor Katie Hobbs. We could then shift our focus to a proper lease extension negotiation with the Maricopa County Board of Supervisors in hopes of modernizing and renovating this public asset to a level those fans deserve." ___ AP MLB: recommended in this topic
Winnipeg Free Press
24-06-2025
- Business
- Winnipeg Free Press
Arizona legislature approves bill that would provide up to $500 million for Chase Field renovations
PHOENIX (AP) — The Arizona Diamondbacks are one small step from securing up to $500 million to help with renovations to the team's downtown home Chase Field. The Arizona House of Representatives voted to approve House Bill 2704 by a 35-20 margin on Monday. It would recapture sales taxes from the stadium and other adjacent buildings over the next 30 years and reinvest them into infrastructure at the retractable roof structure, which has been home to the D-backs since 1998 and is owned by the Maricopa County Stadium District. The only remaining hurdle is for Gov. Katie Hobbs to sign the legistation, and she's been publicly supportive of the bill. 'I'm thrilled that the legislature has passed a bill that will keep the Diamondbacks in Phoenix and create good-paying jobs,' Hobbs said on social media Monday. 'This is a huge win for every Arizonan. I appreciate the bipartisan elected officials and the business and labor leaders who came to the table and worked with my office to make this moment possible.' The Diamondbacks say they will also contribute $250 million of the team's money to help fund renovations. Team president Derrick Hall has said the nearly 30-year-old stadium needs several upgrades, most notably to its air conditioning system, which keeps the stadium cool during Phoenix's brutally hot summer months. The team's current lease with the county expires in 2027. 'We are ecstatic over the legislative approval of HB2704,' Hall said in a statement. 'This will be a monumental victory for baseball and Diamondbacks fans when signed by Governor Katie Hobbs. We could then shift our focus to a proper lease extension negotiation with the Maricopa County Board of Supervisors in hopes of modernizing and renovating this public asset to a level those fans deserve.' Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. ___ AP MLB:
Yahoo
27-02-2025
- Business
- Yahoo
Arizona lawmakers work to recapture taxes at Chase Field to pay for repairs, upgrades
The Brief Arizona Rep. Jeff Weninger introduced HB 2704 in January, and if passed, would recapture sales and income taxes associated with Chase Field and the Arizona Diamondbacks, and use the money to pay for upgrades and repairs. "Today was a first step victory in this much-needed public/private partnership. It shows the momentum that has been behind this bill …," said Derrick Hall, president and CEO of the Arizona Diamondbacks. PHOENIX - Arizona Lawmakers at the capitol are discussing ways to fund upgrades at Chase Field in downtown Phoenix. What we know HB 2704, introduced by Rep. Jeff Weninger, would recapture sales and income taxes associated with the field and the Arizona Diamondbacks, and direct them to funding repairs and upgrades. Not everyone's on board with the proposed plans. If you're a Diamondbacks fan, you know Chase Field is old and needs a lot of repairs, and in order for this bill to pass, the city, county, and state all have to come to an agreement. The backstory Chase Field is one step closer to getting $500 million worth of repairs after the House passed it 35-25. It now moves on to the Senate. Rep. Weninger introduced the bill in January and has since made revisions after negotiations with the city and county. "Recapture of revenue generated at Chase Field does not go to the team or ownership. These dollars go to the county for critical improvements, repairs and construction at the publicly owned Chase Field," Rep. Weninger explained. Derrick Hall, president and CEO of the Arizona Diamondbacks, is calling this a first step victory in this much-needed public-private partnership. His full statement reads, "Today was a first step victory in this much-needed public/private partnership. It shows the momentum that has been behind this bill and we are grateful to Representative Wenninger and Governor Hobbs for the leadership and encouragement, as well as all House Representatives who supported it. Allowing this proud franchise to remain at Chase Field for continued economic and community impact is in the best interest of the City, County, State, and Major League Baseball." "There's an intent clause in the bill that the team will contribute $250 million of their own to the repairs and construction of the stadium, that again, the stadium that they do not own," Rep. Weninger said. The other side Phoenix Mayor Kate Gallego posted on X on Feb. 25 explaining why she's in opposition. "Today, the State House will consider H.B. 2704, which subsidizes renovations to Chase Field with hundreds of millions hard-earned tax dollars. It takes $200 million from the City of Phoenix alone, which will have a real impact on our ability to pay for police and fire services," she said, in part, before the House ultimately passed the bill. Big picture view Rep. Weninger says he's been working closely with the city. "With the county, we did not touch the .2% county jail portion of the tax and what the city were did not touch the .3% that goes with first responders," he explained. "We're not pulling from the education, but the rest of the tax and income tax from within the envelope of the stadium would go into a fund that then would go back into the maintenance and improvements of that publicly owned asset." If passed, the deal would be good for 30 years. The bill states that if the Diamondbacks leave in the first ten years, the team will have to pay a $10 million penalty and all funds left in the Maricopa County-controlled account revert back to the appropriate government entity. "I support a solution that keeps Major League Baseball and the Diamondbacks here in Arizona, and I am really hopeful that the point of disagreement between the city, county and the state can get worked out so that we can get the deal done," Arizona Gov. Kaite Hobbs said. In a previous commerce committee, those in opposition explained why this bill isn't beneficial to taxpayers. "According to the team's own estimates, the bill would take away 15 to 20 million dollars yearly from state and local general funds, diverting funds away from parks, roads and affordable housing," said Margaret Schultz with Worker Power. Diamondbacks fans say they're ready to see improvements made at Chase Field this upcoming season.
